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Title: Time To Focus On Building A Water-Resilient Global Economy
As we navigate the complexities of a rapidly changing world, it has become increasingly clear that our focus must shift to building a water-resilient global economy. The pressure on fresh water is at an all-time high, and climate risks are intensifying these challenges.
This year alone, we have seen devastating consequences of water scarcity, with droughts and pollution posing significant threats to businesses and communities alike. It’s imperative that we take immediate action to address the pressing issue of water risk in our operations, supply chains, and investments.
Industry leaders must recognize the gravity of this situation and work together to develop innovative solutions that prioritize the protection of freshwater ecosystems. The economic value of these ecosystems is immense, equivalent to 60% of global GDP annually.
Unfortunately, our benchmark reveals that not enough companies are taking the necessary steps to address the crisis at hand. In fact, many businesses have failed to set targets for reducing water pollution and protecting ecosystems.
To move forward, we must prioritize a few key areas. Firstly, companies need to begin assessing and disclosing water risk in their supply chains. This will enable them to develop targeted solutions that reduce their impact on ecosystems and improve the quality of available water resources.
Secondly, industry leaders should engage with suppliers and provide education, technical support, and incentives for sustainable practices that minimize pollution. By working together with peers and stakeholders, we can accelerate innovation and ensure that boards and senior management are fully committed to these efforts.
Finally, it’s crucial that businesses prioritize the protection of freshwater ecosystems by setting targets to restore and conserve these vital resources. This requires a fundamental shift in our approach to water stewardship, moving from a focus on risk reduction to one of proactive conservation and restoration.
In conclusion, building a water-resilient global economy demands immediate attention. We cannot afford to ignore the downward spiral of freshwater ecosystems any longer. It’s time for companies to take responsibility and work together with stakeholders to ensure a sustainable future.
As we look to the future, it’s essential that we prioritize the development of innovative solutions that value the economic worth of these ecosystems. Our next benchmark will provide a critical assessment of progress made in this area and identify key opportunities for improvement.
Let us come together as an industry to address this pressing issue and create a better tomorrow for all.
Source: http://www.forbes.com
