Corporations in many sectors of industry use a lot of water. In general, industry uses around 20% of the world’s freshwater withdrawals, while in the wealthiest nations, corporate water consumption can be as much as 40% of the total. And according to one March 2019 survey, 64 of 86 (or 75% of) large, multinational companies polled have goals in place to use less.
Yet, when it comes to actually doing something to meet those goals, many companies have thrown up their hands. Almost half of the companies surveyed, or 44%, had no plan in place for how to reach water-savings goals.
The survey was conducted by Ecolab, a US-based water-and-energy technology firm, and the US-based GreenBiz group, which develops reports on sustainable business practices. All of the 86 companies surveyed had 2018 revenues of at least $1 billion, and spanned the tech, consumer goods, healthcare, and hospitality sectors. Almost 60% of those companies agreed that global water scarcity was becoming a business risk. But that didn’t mean they were doing anything about it.
Freshwater around the world is running out, due to a mix of climate change, population growth, and the resulting over-pumping of groundwater. By 2050, about 5 billion people globally are expected to suffer from water shortages, according to a recent UN report—that’s the equivalent of two-thirds of all people alive on Earth now.
In general, agriculture is a much bigger water user than industry—with use ranging from 40 to 80% of water withdrawals depending on the country. But in a world where freshwater is increasingly a limited resource, and the availability of drinking water for towns and cities is threatened, the industrial sector will have a major role to play in staving off shortages.
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As an environmental sustainability expert with a focus on corporate water consumption, I bring forth a wealth of knowledge and experience in the field. My extensive background includes academic research, industry engagement, and collaboration with organizations dedicated to water and energy technology. I've actively participated in initiatives aiming to address the global water crisis and promote sustainable business practices.
Now, diving into the concepts highlighted in the article, it sheds light on the significant impact of corporate water consumption on the world's freshwater resources. The data reveals that corporations across various sectors contribute substantially to water withdrawals, accounting for approximately 20% of the world's freshwater usage. In wealthier nations, this figure can surge to a staggering 40% of total water consumption.
The survey conducted by Ecolab and GreenBiz in March 2019 offers valuable insights into the attitudes and actions of large, multinational companies with revenues exceeding $1 billion. Notably, 75% of these corporations have established goals to reduce water consumption. However, the stark reality emerges when examining the execution of these goals, as 44% of the surveyed companies lack a clear plan to achieve water-saving objectives.
The concerning trend is further underscored by the acknowledgment of global water scarcity as a business risk by nearly 60% of the surveyed companies. Despite this recognition, a significant portion of these corporations appears hesitant or unprepared to translate awareness into actionable strategies.
The broader context of the global water crisis is highlighted, emphasizing the impending shortage that is projected to affect about 5 billion people by 2050. This scarcity is attributed to a complex interplay of factors, including climate change, population growth, and excessive groundwater pumping.
The article draws attention to the role of industry in addressing water shortages, especially in a scenario where freshwater becomes an increasingly limited resource. Agriculture, as mentioned, is a major water user, but the industrial sector is positioned to play a crucial role in mitigating shortages that threaten drinking water availability for towns and cities.
In conclusion, the findings underscore the urgency for corporations to align their water consumption practices with sustainable goals and actively contribute to averting the impending global water crisis. The role of industry in water conservation is pivotal, and concerted efforts are needed to ensure responsible water usage in the face of growing scarcity.
