Establishing corporate management practices with a focus on water stewardship is critical. Risk from having too much or too little water is now a boardroom issue.
T
he CDP’s 2015 Global Water Report has found that almost two-thirds of over 1200 responding companies report exposure to water risk, with reported
Quenching industry’s thirst
financial impacts in 2015 alone totalling more than US$2.5 billion. According to the Singapore International Water Week 2016 conference proceedings, ‘Water Technology Futures: A Global Blueprint for Innovation’, the global industrial water market is expected to grow by a CAGR of 8% from US$19.9 billion in 2015 to US$26.2 billion in 2019. Clearly, for countries like Australia that
Improved water security minimises risk of climate change effects for Australian businesses James Currie*
have experienced severe drought as well as flooding over the past few decades, aligning water utility conservation goals with the business goals of industrial partners is a critical step in managing this resource. Reducing consumption is one option, while the other is identifying alternative water solutions that help close the water loop and create a more sustainable supply for commercial purposes.
Leading the pack For decades, Australia has been tackling the impact of climate change and rising commercial demands for water through some world-leading planning and development of advanced water facilities and conservation programs. The country’s journey through the Millennium Drought (circa 2001 to 2009) was remarkable, made even more so as it coincided with a period of sustained economic growth in spite of the water crisis. The water industry in Australia must continue to evolve and continue to lead sustainable thinking. Findings from ‘Black & Veatch’s 2016 Strategic Directions: Water Industry Report’ include insights from a number of Australian water leaders. Common
8 Sustainability Matters - Oct/Nov 2016
www.SustainabilityMatters.net.au