Marrakesh, Morocco, 15 November, 2016: Drought, flooding, increased water stress fueled by climate change, tightening environmental regulation and the cost of cleaning up water pollution and fines have all resulted in US$14 billion worth of water-related financial impacts to business. This is over five times the US$2.6 billion reported last year by companies providing information to investors on their management of and impacts on water resources. These are the findings of a new report from CDP, the global non-profit tracking corporate environmental performance, published at COP22 in Marrakesh today. The report, Thirsty business: Why water is vital to climate action, is based on data provided by 607 companies in response to CDP's request for information made on behalf of 643 institutional investors with US$67 trillion in assets.
