As businesses across the globe confront increasing water-related challenges impacting their operations and supply chains, company leaders are facing increased pressure from investors, customers and other stakeholders with regard to water-related performance. To meaningfully and credibly address water risk and enhance brand value, companies need to move beyond the “water management” paradigm of arbitrary water-use targets and strategize around the principles of good water stewardship.
Currently, there is a lack of common understanding in the marketplace around what constitutes credible “good corporate water stewardship.” Stakeholders are generally dissatisfied with how existing Environmental, Social and Governance (ESG) and other sustainability reporting frameworks address corporate water stewardship performance. The Water Council, learning from 10+ years of experience working with companies on water stewardship, developed the WAVE program to address this issue.
The Water Council’s WAVE program gives companies a way to improve their water stewardship and, importantly, have it independently verified. It is a six-step methodology for improving, reporting and recognizing good corporate water stewardship.
By following the six steps, companies demonstrate that they are strategically prioritizing water-related action where it matters most. This leads to more meaningful water-related goals, targets and outcomes.
The WAVE program concludes with independent verification provided by SCS Global Services. This ultimately ensures that companies can be confident that they are credibly communicating their water stewardship efforts to key stakeholders and the public.
Think the WAVE might be right for your company? Let us know!
Vice President, Water Stewardship