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Water Stress Is A Corporate Risk Multiplier — How Can Aquapreneurs Help?
- Clean Technica
Companies in industry have to pay more attention to the impact their operations have on water quality, its availability, and the protection of freshwater ecosystems. That’s the push coming from major companies’ investors and governing bodies. Water stress has significantly increased risk, yet, through proactive internal as well as collective action, businesses can combat the water crisis.
An emerging group of aquapreneurs — entrepreneurs in the water sector — is helping businesses to address their impact on water resources, starting with substantial amounts of data that show companies can no longer afford to ignore the risks.
Water stress is a perennial problem and is projected to worsen with the climate crisis. Alone, it is a powerful risk with the potential to upend socioeconomic and ecological systems. When compounded with other risks, such as those related to food and energy systems, politics, and infrastructure, it becomes devastating.
All industries rely on water in some way. Many companies are just now explicitly acknowledging that water stress poses risks to both their profits and sustainability performance. According to a McKinsey Sustainability analysis, a company’s water footprint can be seen in 4 key areas of its value chain: raw materials, suppliers, direct operations, and product use. Businesses can step up to mitigate water stress and limit not just their own risk but also the risk of all stakeholders, especially when they turn to aquapreneurs for guidance.