Measure and minimize risks and impacts related to water and climate change
List of participants will be added in due course
BAFWAC is jointly managed by the CEO Water Mandate, CDP, and the World Business Council for Sustainable Development (WBCSD) on behalf of the companies who sign its declaration.
The Business Alliance for Water and Climate aims at achieving 100 signatories by 2018 (global stocktake) representing $1 trillion revenues compared to 44 signatories in 2016 representing $680 billion.
Companies have the opportunity to be at the forefront of an important movement within the sphere of corporate responsibility. Early action and leadership will be beneficial to companies’ bottom lines, as well as the communities and environmental systems upon which they depend and impact. Adopting this commitment will promote their work to institutional investors whilst giving these important stakeholders confidence that the company understands the risks, is taking effective action, and increasing business resilience.
Therefore, the initiative aims to:
Increase the number of companies committing to one of the three actions outlined by the BAFWAC commitment – thus ensuring broad uptake and action on improving water security from the private sector;
Track progress from the committed companies as to their progress on each of the three actions – thus ensuring appropriate and meaningful action is taken to safeguard water resources enabling the low carbon transition the Paris Agreements and accompanying NDCs outline.
By 2020 we will be able to report on the total number of companies that committed to action, the number of actions committed too and progress on each action.
Roadmap and work plan
1. First milestone: secure 100 corporate signatories by 2018 representing $1 trillion in revenues.
- To date, more than 30 companies across 5 continents representing $680 billion in revenues have joined BAFWAC and committed to take action
- We have partnered with We Mean Business through its Commit to Action campaign to launch the first water-related commitment that will increase the number of signatories
2. Second milestone: to catalyze and facilitate effective water action
- Technical workshops and webinars have been held
- Best practice information and dissemination platforms have been created
- Monitoring and tracking of progress against commitments is underway
- Collaborative action opportunity identification is underway
Since COP21, the Business Alliance for Water and Climate made several progress:
- Advocacy: participation to the Technical Expert Meeting on Adaptation in Bonn on May 26th following SUEZ contribution in response to paragraph 126 of the Paris Agreement declaration. This event focused on enhancing the implementation of adaptation action, with emphasis on gaps, needs, challenges, options and opportunities for implementation on the ground; means of implementation, including for the improvement of climate information services and understanding of scientific information at the national level; and good practices for reducing vulnerability.
- Exchange of best practices: webinars hosted by CDP and CEO Water Mandate and covering, amongst other topics: how to use the Alliance for Water Stewardship standard to reduce impact; how to assess exposure to water risk using WRI’s aqueduct tool; and how to use the Water Action Hub to find partners for action.
- Organization of events: 2 major events organized by the founding partners of the Business Alliance for Water and Climate
1) SUEZ convened together with the French Ministry of Environment a high level luncheon on water action & climate change which gathered various French companies from water-intensive sectors: the objective was to raise awareness among CEOs on water related risks and to incentivize them to commit to the Business Alliance for Water and Climate.
2) The CEO Water Mandate convened a working session during Stockholm World Water Week on August 28th: the 2016/2017 orientations of the Business Alliance for Water and Climate were presented to the public, as well as the introduction of the We Mean Business Water Commitment. Furthermore, 3 case study were presented by three companies that have not yet joined the BAFWAC (Olam International / IFC, Dow Chemicals and OCP) in order to foster interest of new companies.
- Integration of the Business Alliance for Water and Climate within the We Mean Business Take Action commitment campaign, through the label "Commit to Water Security" under the Resilience section. It is the first private-sector led commitment focusing on water and climate.
Not assessed yet
There are currently 30 companies that have signed BAFWAC, we will track progress against commitment actions:
Via their CDP water response (deadline for response 30th June)
Via direct engagement with the company
Via sustainability reports
Results will be compiled and analyzed for sharing at COP22.
The aggregate revenue of BAFWAC declaration signatories since COP21 is equal to $120 billion.
Sébastien Pellion, SUEZ, Tour CB21 - 16 place de l’Iris, 92040 Paris La Défense, France
+33 (0)1 58 81 55 51