Water scarcity is one of the biggest crisis faced by the world today, and the condition is only going to worsen in the coming years. According to World Bank, more than 600 million people lack access to clean drinking water today. The United Nations has predicted the world will face a 40% freshwater shortfall by 2030, if nothing changes.
Now a new survey conducted by Ecolab Inc., a water, hygiene and energy technology company, and GreenBiz has found that although water scarcity is soon going to be a huge business risk, almost half of all companies don’t have a plan to achieve their water reduction targets.
This is a growing issue for corporate water users, who consume more than 40% of all water used in industrialized economies and an increasing share in developing nations.
“Saving water is the smart play for the future,” said Emilio Tenuta, Ecolab vice president of Corporate Sustainability. “Companies can reduce costs and save energy, and become more resilient to water scarcity and climate change.”