Six Steps to a Successful Water Strategy
Nick Martin
August 20, 2018
Although much of the most innovative work continues to be guarded due to competitive advantage, there are many leading companies and/or sector examples to learn from. From my experience, I would point to the beverage industry and most notably the Beverage Industry Environmental Roundtable as a prime example.
Having accepted water as a core business issue, how do companies develop a corporate water strategy given the fact that comprehensive, standardized methodologies may be years away? Successful companies have followed a common process:
Step 1: Know your water sources, use, consumption and discharge for all operations. Benchmark operations, set targets and drive efficiency. "Walking-the-walk" is a prerequisite for a successful corporate water strategy.
Step 2: Establish a cross-functional water team to define a viable three-to-five-year water stewardship vision that is measurable and aligned with overall business goals.
Step 3: Complete a baseline water risk assessment to understand and compare local watershed conditions beyond the four walls of each facility. Examine risks and opportunities including physical, regulatory and reputational.
Step 4: Develop, implement and maintain local water management plans (e.g., location or site specific) based upon Step 3 results. Incorporate performance monitoring systems and issue escalation processes.
Step 5: Engage with supply chain partners to understand your company's broader water footprint, impact and opportunities.
Step 6: Strategically engage with external stakeholders through partnerships, reporting and other related efforts.
A word of caution: Water issues are highly localized and dynamic. Successful companies have addressed the following types of questions to apply their resources to greatest advantage:
- Are your facilities among the largest water users in a given community? How does your efficiency compare to peers and other local industries?
- Can water issues limit growth aspirations?
- Could individual sites face water restrictions in the next 5, 10, or 15 years? If so, are there viable back-up supply and/or treatment options?
- Can you meet current and future regulatory limits? What level of investment may be required and when?
- How intense is media or political attention to water in communities where you operate?
- Can you justify water-related business expenditures and strategically allocate resources?
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About the Author
Nick Martin
Antea Group
Nick Martin is the Sustainability Practice Lead for Antea Group and supports organizations with assessing, prioritizing and managing sustainability and ESG-related business risks and opportunities.
nick.martin@anteagroup.us | +1 303-615-3115
nick.martin@anteagroup.us | +1 303-615-3115