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The Corporate Water Disclosure Guidelines
2015-03-31Global Reporting Initiativeadmin0010
The UN Global Compact’s CEO Water Mandate initiative has released the finalized Corporate Water Disclosure Guidelines – a common approach for companies to effectively disclose the many elements of their corporate water management practice to key stakeholders. The Guidelines are available as a PDF report and a web-based tool (Refer to the links at the end of the article).
The new guidance – developed by the CEO Water Mandate and its Co-Secretariat, the Pacific Institute, in collaboration with CDP, Global Reporting Initiative, PricewaterhouseCoopers, and World Resources Institute – aims to harmonize reporting approaches, and minimize reporting burdens so companies spend more time actively managing water. This work is the product of a multi-year, highly-collaborative effort, informed not only by project partners with expertise in water resources and corporate reporting, but also by business representatives, civil society organizations, and UN agencies.
According to Peter Schulte of the Pacific Institute and lead author, the Corporate Water Disclosure Guidelines “accomplish two necessary objectives: advance metrics and qualitative approaches that provide meaningful information about corporate water practice and drive convergence among company reporting so that they are more comparable and easier for report audiences to understand. The collaborative, iterative process in which they were developed also help to ensure the guidance is accessible and feasible for companies, while remaining meaningful for their stakeholders”.
In response to the growing importance to businesses of water management and water disclosure more specifically, the Guidelines address the ways companies:
• Measure their water performance
• Assess conditions in the river basins where they operate
• Understand their water-related risks, impacts, and opportunities
• Develop effective water management strategies
• Communicate these issues to stakeholders
GRI served as a strategic partner throughout the development of these Guidelines and provided advice on how they could be built on the existing GRI reporting guidance. In particular, GRI actively contributed to the section on defining report content for water disclosure, which is largely aligned with the guidance provided in the G4 Sustainability Reporting Guidelines. This will help reporters integrate this specific water disclosure guidance into their existing GRI reporting efforts and GRI-based Communications on Progress (COPs).
“The Corporate Water Disclosure Guidelines constitute a very much needed step towards consolidating a wealth of knowledge and experience on corporate water management practice and disclosure. They have been aligned with other disclosure frameworks and standards such as the GRI G4 Guidelines or the CDP water questionnaire – this is extremely valuable for reporting companies and report readers alike, and pave the way for a common approach towards water disclosure. The metrics and information put forth in these Guidelines will prove very helpful in the development of future water-related updates of the GRI Guidelines”, said Bastian Buck, Director Reporting Standard at GRI.
Download the PDF report: PDF report: http://ceowatermandate.org/files/Disclosure2014.pdf
The web-based tool: http://www.ceowatermandate.org/disclosure
The new guidance – developed by the CEO Water Mandate and its Co-Secretariat, the Pacific Institute, in collaboration with CDP, Global Reporting Initiative, PricewaterhouseCoopers, and World Resources Institute – aims to harmonize reporting approaches, and minimize reporting burdens so companies spend more time actively managing water. This work is the product of a multi-year, highly-collaborative effort, informed not only by project partners with expertise in water resources and corporate reporting, but also by business representatives, civil society organizations, and UN agencies.
According to Peter Schulte of the Pacific Institute and lead author, the Corporate Water Disclosure Guidelines “accomplish two necessary objectives: advance metrics and qualitative approaches that provide meaningful information about corporate water practice and drive convergence among company reporting so that they are more comparable and easier for report audiences to understand. The collaborative, iterative process in which they were developed also help to ensure the guidance is accessible and feasible for companies, while remaining meaningful for their stakeholders”.
In response to the growing importance to businesses of water management and water disclosure more specifically, the Guidelines address the ways companies:
• Measure their water performance
• Assess conditions in the river basins where they operate
• Understand their water-related risks, impacts, and opportunities
• Develop effective water management strategies
• Communicate these issues to stakeholders
GRI served as a strategic partner throughout the development of these Guidelines and provided advice on how they could be built on the existing GRI reporting guidance. In particular, GRI actively contributed to the section on defining report content for water disclosure, which is largely aligned with the guidance provided in the G4 Sustainability Reporting Guidelines. This will help reporters integrate this specific water disclosure guidance into their existing GRI reporting efforts and GRI-based Communications on Progress (COPs).
“The Corporate Water Disclosure Guidelines constitute a very much needed step towards consolidating a wealth of knowledge and experience on corporate water management practice and disclosure. They have been aligned with other disclosure frameworks and standards such as the GRI G4 Guidelines or the CDP water questionnaire – this is extremely valuable for reporting companies and report readers alike, and pave the way for a common approach towards water disclosure. The metrics and information put forth in these Guidelines will prove very helpful in the development of future water-related updates of the GRI Guidelines”, said Bastian Buck, Director Reporting Standard at GRI.
Download the PDF report: PDF report: http://ceowatermandate.org/files/Disclosure2014.pdf
The web-based tool: http://www.ceowatermandate.org/disclosure
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