Water security – access to a reliable supply of sufficient amounts of good quality freshwater – is fundamental to achieving our low carbon ambitions. Without improved water resources management, the transition to a low carbon future, and achievement of the UN’s 2030 Sustainable Development Goals will be jeopardized.
At the same time, climate change is expected to have direct negative impacts on the availability and quality of freshwater resources. Both situations will have spillover effects not only for global populations, but for business continuity and growth.
The Business Alliance for Water and Climate (BAFWAC), a partnership among the UN Global Compact’s CEO Water Mandate, CDP, SUEZ and WBCSD, has set out a program of actions for companies who wish to demonstrate their commitment to being responsible water stewards. It is supported by UNFCCC and was launched on December 2nd during the Resilience Day of the Lima-Paris Action Agenda.
What are the benefits?
Companies have the opportunity to be at the forefront of an important movement within the sphere of corporate responsibility. Early action and leadership will be beneficial to companies’ bottom lines, as well as the communities and environmental systems upon which they depend and impact. Adopting this commitment will promote their work to institutional investors whilst giving these important stakeholders confidence that the company understands the risks, is taking effective action, and increasing business resilience.
What is expected of companies that make this commitment?
Companies making this commitment are agreeing to carry out the following actions:
- Analyzing water-related risks and implementing collaborative response strategies
- Measuring and reporting water use data (through CDP’s water questionnaire, annual sustainability reports, Communication on Progress of the CEO Water Mandate, or your public website)
- Reducing impacts on water availability and quality in direct operations and along the value chain
Finalizing a commitment
To finalize this commitment, companies are asked to confirm via email and provide a high-resolution version of their logo to be added to the BAFWAC website.
Alliance for Water Stewardship
Business alliance for water and climate change – official UNFCCC webpage
Business alliance for water and climate change – sign the declaration
CDP’s water program
CDP’s water questionnaire – a framework for action
CEO Water Mandate: understanding key water stewardship terms
Risk assessment tools: WWF’s water risk filter, WRI’s aqueduct
Water Footprint Network
WBCSD global water tool
WBCSD WASH pledge
Natural Infrastructure for Business Platform
CDP, UN Global Compact’s CEO Water Mandate, SUEZ, and WBCSD