What Is Water Security & Why Should Businesses Care 

Water security is a relatively new term, but it’s a growing concern, for both individuals and businesses. 

Here, we’ll define the issue, and talk about why it’s relevant to the corporate world too.

You’re probably aware of water as an essential part of everyday life. It profoundly impacts agriculture, transport, agriculture, manufacturing, the technology industry and, of course, the environment.

The phrase ‘water security’ has been used and described in numerous ways in recent years, but the Sustainable Water Partnership (SWP) gives a clear, concise description. They describe it as “the adaptive capacity to safeguard the sustainable availability of, access to, and safe use of an adequate, reliable and resilient quantity and quality of water for health, livelihoods, ecosystems and productive economies”.

In short, water security is reliable access to clean water. This is something many of us take for granted, but due to a number of factors – especially climate change – water security is a growing concern. Droughts, unpredictable weather and changing water levels are impacting the world population’s access to water.

However, like many social and environmental concerns, there are actions and steps that can be taken to make a positive difference.

While it might not always feel like it, every one of us is connected.

Every business relies on the planet to survive and thrive. This is most obvious in industries like agriculture, but climate change and water security have an impact in every business.

More than two billion people worldwide still lack access to safe drinking water. This lack of access is unsurprisingly dangerous, as dehydration and water-borne diseases become real concerns in water-unsafe environments. But it has an economic impact too. Access to clean water reduces mortality, frees time, and allows communities to flourish.

As The World Bank reports, investing in infrastructure in low- and middle-income countries could save $4.2 trillion over the lifetime of this infrastructure. It’s a return of $4 of benefit for every $1 invested.

“To improve livelihoods, significant reforms and investments are needed to provide efficiently managed water and sanitation services to those without access, and to strengthen resilience against hydro-climatic risks,” said World Bank Vice President for East Asia and the Pacific Manuela V. Ferro.

Globalisation is nothing new. Indeed, trade and inter-dependent economies date back to Marco Polo. But the past two decades has seen an unprecedented growth in businesses going global, on small and large scales. From a sole programmer in Thailand making a world-conquering videogame, to India emerging as one of the world's fastest growing economies, the digital economy has led to more inter-dependence than ever before.

The old adage used to be that if the US sneezed, the world caught a cold. Now, as economies in Asia, South America, Europe, Africa, the Middle East and India become more interconnected, we should all be economically healthy.

And water security is not just a symptom of a healthy infrastructure and economy, but also a cause. As this paper argues, water security impacts an entire region’s agricultural, energy and industrial sectors.

There are several steps businesses can take to improve water security, regardless of the organisation’s size. We talk about this in detail in our blog, How to Reduce Your Business Water Footprint, but here are some steps to get started.

• Maintain your company’s water footprint

Look at water consumption across your company, not just in your operations, but in supply chains. Look for ways to reduce and re-use water on your main premises. We discuss this further in our blog, Top Water Conservation Tips for Urban SMEs.

• Carry out an audit

Audit your company’s water use. Is it inefficient? Wasteful? Are there aspects that could be modernized, repaired or updated? Be especially mindful of water leaks, which can add up.

• Install efficient water fixtures

Low-flow taps, modern equipment like water-efficient dishwashers, and water-reclaiming technology (like water buttes) can all have a positive impact.

• Instill a culture of water awareness

Communicate with your employees the importance of water security. Carry out a survey to gauge awareness, and engage in campaigns to encourage responsible use of water both at work and at home. For more on this, read our blog on Training Your Team on Water Conservation Best Practices.

As the importance of water security continues to grow, so too should awareness. We have a range of resources at our Water Hub, including blogs about reducing business water footprint, accessing funding for water projects, and much more.

As part of our commitment to supporting businesses globally, we also offer International Health Insurance Plans tailored to SMEs. These plans are designed to protect your employees’ health and wellbeing, ensuring access to quality healthcare no matter where they work.