The TriplePundit Flash, World Water Day Edition: Ecolab
We as a global community are facing an impending water crisis. The planet will experience a 40 percent shortfall in fresh water by 2030 unless we “dramatically” improve water supply management, according to the United Nations Educational, Scientific and Cultural Organization (UNESCO).
Highly publicized crises—such as the historic California drought of 2014 and 2015 and the massive water shortfall that struck Cape Town, South Africa, last year—make the world's water woes abundantly clear. Climate change further exacerbates water shortage risks, and a rising global population and accelerated industrialization around the world mean we'll soon have to do more with less.
Considering that industry uses around 20 percent of all fresh water globally, the private sector has an undeniable role to play. But although more companies are disclosing their water risk and setting reduction targets, they still struggle to translate those ambitions at the local level, according to the 2019 State of Green Business report, produced by GreenBiz and environmental risk analysis firm Trucost.
A new tool developed by Ecolab, a global company focused on water, hygiene and energy technologies, may provide a solution. Launched this week during an event at the New York Stock Exchange, the Ecolab Smart Water Navigator was designed as a resource to help companies measure—and mitigate—water risk at the facility level.
Company decision-makers simply complete a 13-question assessment—informed by leading corporate water stewardship experts like Trucost—to see how their facilities perform compared to industry-leading water management practices. The tool places each facility on a Water Maturity Curve and generates an industry- and location-specific guide with practical action steps to help companies improve.
Read more about this new technology on TriplePundit.