Drought conditions have become a serious issues across much of the country. According to CDP, formerly the Carbon Disclosure Project, two-thirds of the world’s largest companies report exposure to water-related business risk could generate a substantive change in their business, operations or revenue, with potential losses of $225 billion. Those companies that address this risk can have a competitive advantage.
Measuring Your Water Footprint
As with their carbon footprint, businesses need to take a closer look at their water footprint to help address these issues. The water footprint, which is defined as the total amount of water used in the production or supply of goods and services, has two components: direct (operations) and indirect (supply-chain). The total water footprint is measured in three ways:
1. Blue: volume of surface and groundwater consumed as a result of the production of a good or service.
2. Green: volume of rainwater consumed during the production process.
3. Gray: volume of polluted water resulting from the making of a product.
In many cases, the supply-chain water footprint will be larger than the operational one. It’s also important to understand how the water footprint impacts the local water supply; otherwise conflict may arise with other water users in the region.
Stepping Into Water Conservation
Follow these steps to reduce the water footprint throughout your organization.
Conduct a water use assessment. You can't manage what you can't measure. This is the first step to understand water consumption patterns and where water is used the most. Check out this water footprint assessment tool, which includes a geographic assessment that is used to understand how water is allocated between different uses in a catchment or river basin.
Change water use behaviors. Educating employees on how they use water on a daily basis is key to conserving it. Get employees involved by appointing a water champion to monitor progress. Provide signage in water-use areas like bathrooms. Water conservation should become a fundamental part of business operations.
Upgrade equipment. Install low-flow fixtures, and appliances that reduce water usage, such as efficient dishwashers and laundry equipment. Use drip systems and smart controllers that use real-time weather data for irrigation.
Invest in technology. To reduce water waste, install real-time leakage detection systems to monitor water usage. Finding and preventing leaks can save gallons of water per day. Install smart water meters to understand consumption patterns.
Recycle gray water. Instead of disposing this water down the drain, use it for irrigation, toilet flushing and other non-potable applications. An onsite water treatment system for converting wastewater can also reduce costs in this area.
Replace conventional energy sources with renewables. The production of traditional fuel sources can use up to four times the amount of water than the production of renewables. Switching to renewable sources can also reduce a company’s overall water footprint throughout its supply chain.
Becoming a water steward means an organization understands and addresses all water risks – physical, reputational, financial and regulatory. Consider ISO 14046 certification, which specifies requirements and guidelines related to water footprint assessments. Addressing your water footprint can help your organization become more sustainable.
March 2024 Connections Newsletter
From industry trends and best practices to sustainability initiatives, our monthly Connections newsletter for Key Account customers provides valuable insights, updates, and resources to support our large business customers.
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