Water Scarcity Is a Huge Business Challenge and Opportunity
CO2? Try H2O. Water scarcity will confront business with both its greatest challenges and most compelling opportunities in the next decade. Changing millennia of human behavior and assumptions will not be easy: most consumers in the developed world are used to paying almost nothing for access to water. In other countries, the lack of access to clean water is a huge burden, just at a point at which more companies are investing there to find new sources and new markets outside of North America, Europe, and East Asia. So what are companies doing about it? Campbell Soup Company, for example, provides a template by which food and agricultural firms can work with everyone from farmers to consumers to optimize their water usage. But all sectors must take a hard look at their water use. semiconductor manufacturers, the textile and fashion industries, and even energy efficient companies that manufacture hybrid cars, are all large consumers of water. Many are partnering with WWF to address the challenges due to current and future water scarcity. Now professional services firms are getting into the game. Deloitte, for example, is bolstering its staff in order to advise more clients on how to confront water issues. Read my article on how businesses are becoming aware of their water footprint on Triple Pundit.