Global Push for Unified Water Tracking Standards Gains Momentum
The lack of consistent water use tracking worldwide hinders risk assessment amid climate and population challenges. A new initiative, supported by major environmental bodies, seeks to establish a common reporting framework for water use in value chains, offering clearer insights for stakeholders like investors and communities.
A global inconsistency in tracking water usage is creating obstacles in assessing risks as climate change and population growth stress freshwater supplies. This has led to an initiative promoting a unified accounting approach for water.
According to Lauren Enright, program manager at SCS Global, the varied definitions and terms used in water reporting create challenges for investors, auditors, and communities trying to gauge corporate water usage.
Supported by the World Resources Institute, WWF, and the U.N.-backed CEO Water Mandate, the initiative is set to launch soon, named Corporate Guidance for Assessing Water Scopes 1-3 in Value Chains, aiming to offer a universal set of definitions and concepts.
(With inputs from agencies.)
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