Water risk a growing concern for companies and investors
The world's largest companies are failing to improve disclosure on water issues, despite more than two thirds saying they may face commercial damage from water risks.The Carbon Disclosure Project (CDP) surveyed 174 FTSE Global 500 companies as part of its annual water report on water risk. 68% of these companies reported that they are at risk from water scarcity,
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The UK's National Drought Group (NDG) has this week agreed measures to manage the current drought and minimise risks for next year, with businesses now facing a “new normal” for water.
Investors managing $9.8trn (£8trn) in assets have joined a new campaign urging 72 of the world’s biggest corporate water users and polluters to value and act on water as a financial risk.
The Environment Agency has successfully prosecuted Southern Water for thousands of illegal raw sewage discharges that polluted rivers and coastal waters in Kent, resulting in a record £90m fine.
In Elliott-Smith v Secretary of State for Business, Energy and Industrial Strategy, the claimant applied for judicial review of the legality of the defendants’ joint decision to create the UK Emissions Trading Scheme (UK ETS) as a substitute for UK participation in the EU Emissions Trading Scheme (EU ETS).