Global Water Report 2020: a wave of change - the role of companies in building a water-secure world
When it comes to water security, businesses cannot afford to wait. In 2020, companies reported maximum financial impacts of water risks at US$301 billion – five times higher than the cost of addressing them (US$55 billion). Beyond risk management, there are also business opportunities when investing in water security – estimated at US$711 billion. In 2020, almost 70 percent of the companies are now reporting their overall water consumption – a strong increase since just last year. This report shows that the cost of mitigating water risks for companies is usually much lower than their potential financial impact. Moreover, it demonstrates that the cost of inaction on water risks is up to five times the cost of action. With huge business opportunities to seize, companies need to rethink their strategies and transform their business models to build a water-secure world.
