For a company like Goldman Sachs, water represents a potential risk lurking in its investment portfolio. ForGE, it may also offer a potential business opportunity to help its clients overcome their challenges.
Both companies joined the World Resources Institute to launch the Aqueduct Alliance. They've just addedBloomberg, The Dow Chemical Company, Talisman Energy and United Technologies in a bid to develop a new database and mapping tool that will help companies and governments make more informed water-related decisions.
Interviews with sustainability leaders at WRI and its partner companies spelled out just how complex water issues are for industry.
"There's more to water risk than just supply," said Robert Kimball, the Aqueduct Project's communications and outreach coordinator.
Kimball pointed to the reputational risks that may arise from the perception that a company is a poor environmental steward, in addition to the potential risks from litigation or costs associated with regulatory changes.
"A lot of those risks aren't being properly captured, measured or managed," Kimball said.
Every sector is water dependent in some way, although some more so than others. Water-intensive industries include oil & gas, food & beverage, agribusiness, power generation and semiconductor manufacturing, to name a few.
To continue reading about the Aqueduct Alliance, click here.
About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Citizenship at GE is more than a program or a set of good intentions - it is a full-time commitment built upon cultural behaviors and actions. These actions are integrated with business strategy and have defined goals, strategies and metrics that make it actionable and accountable.
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