Ecolab has updated key data within its Water Risk Monetizer tool to reflect current water trends. The tool, which enables businesses to factor current and future water risks into business strategy, is increasingly being used by companies as they plan action steps to support sustainable growth.
The latest version of the Water Risk Monetizer, developed by Ecolab in partnership with Microsoft and Trucost, part of S&P Global, reflects the changing landscape in water risk analysis, ensuring the tool continues to leverage best-in-class information and scientific methodologies.
“The Water Risk Monetizer provides companies with a comprehensive tool to deepen their understanding of the financial implications associated with water risks,” said Paul Reig, director of Aqueduct and Corporate Water Stewardship at the World Resources Institute. “Tools like this can empower organizations to prioritize and invest in water conservation.”
With research from the United Nations predicting that global demand for water will exceed supply by 40% by 2030, the Water Risk Monetizer’s latest update supports the advancement of corporate water management in an increasingly water-scarce world.
The tool uses water basin datasets, economic techniques and scientific methodologies developed by Trucost, the experts in natural capital evaluation, to give companies the insights needed to make more informed decisions about their operations. The latest update includes the newly released water stress dataset from the World Resources Institute’s Aqueduct Water Risk Atlas, updated global water pricing data and an updated global GDP population model.
The Water Risk Monetizer quantifies the full value of incoming and outgoing water to a specific location based on basin-level quantity and quality considerations, considering tangible factors such as scarcity and quality as well as potential human health and environmental impacts of water use. Risk levels for individual facilities are displayed in comparison to current water costs.
Planned expansions for the tool in 2020 include:
- Facility-level action planning for smart water management practices
- Additional context-based approaches to local water challenges
- Industry benchmarking
“Additional advancements to the Water Risk Monetizer later this year will amplify the tool’s ability to geographically differentiate watersheds and provide applicable, actionable insights suited to a facility’s location,” said Emilio Tenuta, Ecolab senior vice president of Corporate Sustainability. “The Water Risk Monetizer enables users to view water as a shared resource and consider the way they use water in their operations – as well as their supply chain and within their community.”