Reporting and Disclosure
Inspecting Today
Water footprint assessments are an ideal method for companies to report on water to ESG frameworks, comply with emerging EU regulations like the Corporate Sustainability Reporting Directive (CSRD), the Due Diligence Directive (CSDDD) or to voluntarily disclose via mechanisms like CDP’s water questionnaire.
Beginning with the year 2024, publicly listed EU companies meeting certain turnover and size criteria will be required to report though the CSRD. For the first time, the directive will include the concept of double materiality, requiring companies to report not only on the ESG risks to the company but also on the company’s impacts on ESG issues.
Specifically on water, businesses will be required to report water use and pollution data, describe impacts, risks and opportunities related to water in both operations and the value chain, disclose water reduction targets, strategies and action plans, among others.
Water Footprint Implementation provides insights into water usage, helping companies set targets, reduce water-related risks, and align their practices with regulatory requirements. Ultimately, water footprint assessments enable companies to meet their reporting obligations under EU regulations while fostering responsible water stewardship and sustainability
CSRD
The CSRD builds upon the Non Financial Reporting Directive (NFRD) and is a new, important piece of European regulation requiring large publicly listed companies in the EU, fulfilling certain size and revenue criteria, to report on sustainability aspects including the environment, human rights and corporate governance. The directive will expand the number of companies subject to the EU sustainability reporting requirements to 50 000, progressively, beginning with the year 2024. For the first time, the directive will include the concept of double materiality, requiring companies to report not only on the ESG risks to the company but also on the company’s impacts on ESG issues.
Specifically on water, businesses will be required to report water use and pollution data, describe impacts, risks and opportunities related to water in both operations and the value chain, disclose water reduction targets, strategies and action plans, among others.
