UK-based carbon management and reduction company, Carbon Trust, has announced the launch of an international award that will recognise efforts made by companies to measure, manage and reduce use of water.
The award is part of a scheme put forth by the company to encourage businesses across the world to take up water wastage as a serious issue and urge companies to monitor and reduce water consumption and increase sustainability.
According to Carbon Trust, businesses across the world are not acting in accordance with the estimation that the demand for freshwater will exceed by 40% than water supply by 2030 and could lead to water scarcity down the years, resulting in increased costs.
The company said that carbon reduction is not sufficient, while water management is vital for the battle against climate change and devastating effects of depleting natural resources.
The company has worked closely with Sainsbury's, Coca-Cola Enterprises, Sunlight and Branston to develop the new methodology, while the four companies have adopted the Carbon Trust Water Standard.
Carbon Trust chief executive Tom Delay said that water management is not a priority for many businesses.
"However, the harsh realities of future water scarcity mean this needs to change and fast. We've launched the Water Standard to help companies to monitor and manage their water usage and build resource efficiency into future business plans," Delay added.
"We know from our extensive experience helping companies to manage carbon reduction that a stringent approach to use of resources can lead to new commercial opportunities and thriving businesses, particularly for those who take the lead here and set the benchmark for others to follow."
In order to achieve the Carbon Trust Water Standard, organisations will have to measure water input from mains supply, surface water abstraction, groundwater abstraction and rainwater collection, and measure water output as a trade effluent.
In addition, the companies will have to reduce water usage over time either in absolute terms or in water intensity reduction, in relation to turnover or product.
Businesses should also achieve a passing score of 60% on a qualitative assessment of water governance, measurement and management.
Image: UK Carbon Trust is encouraging businesses across the world to manage water. Photo: Courtesy of Graham Horn.