More than 50 different funders, companies, social organizations, governments and communities convened to explore collaborations to address water scarcity, at the recent ACF and Samhita event 'Investing in Water: For Today & The Future.
Philanthropists, changemakers, and CSR leaders including Amit Chandra, MD, Bain Capital; Jayamala Subramaniam, CEO, Arghyam; Nimesh Sumati, Co-Founder, Caring Friends; and representatives from L&T, Yes Bank, MullenLowe Lintas, NABARD and Tata Water Mission, were among the key stakeholders at the event which aimed to heighten the need for investment in water. These experts also provided solutions to the burgeoning water problems different target groups face.
The event witnessed the launch of Making a Case for Corporate Action in Water - a report that analysed companies on the NIFTY 50 to study their water risk exposure and map areas of interest and challenges in water for the corporate sector, across business, CSR, sustainability and share value.
· 84% of the companies reported CSR programs in Water
· 31 of the 50 stocks are in water-intensive sectors
· Close to 65% of the water-intensive stocks have operations in highly water-stressed regions of India such as Gujarat and Rajasthan among other states
It also profiled projects of companies investing in water. This snapshot of the NIFTY 50's water exposure provided insights into the national economy's dependence on water. There was an evident urgency for companies to look at holistic and collective strategies that address all aspects of their involvement with water. The report helps companies achieve this by identifying a continuum of responsible actions that companies can develop initiatives around; and the water value chain framework, which helps identify various means for corporate engagement in Water from a circular, life cycle perspective.
Speaking at the event, ACF Director & CEO, Pearl Tiwari said, "Water Scarcity has been a burning issue for quite some time. With several cities in India now standing at the verge of facing a severe water crisis, it's a matter of urgent priority that strategic and collective action be taken. It's encouraging that several stakeholders are serious about the issue and willing to act."
Further, she added, "We strongly believe in the power of collaboration. With over 25 years of focussed work in water management, ACF has joined hands with various organisations, government and agencies. And the results speak for themselves. Events like this open up opportunities for organisations to learn from each other and explore ways to increase the amplify impact through joint efforts. I am sure that with a focussed approach and sharing knowledge & expertise, organisations can work miracles in building a water sufficient society."
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