The Freshwater Accountability Accelerator aims to merge frameworks into one place so that companies have clear guidance on the requirements for setting effective water targets.
Quantis is proud to announce our collaboration with the World Business Council for Sustainable Development (WBCSD) in developing a new effort to accelerate corporate freshwater accountability. The Freshwater Accountability Accelerator will support businesses by streamlining application guidance as it relates to setting water targets and disclosing water-related information. The initiative will provide:
- A harmonized user journey for freshwater accounting, target-setting, disclosure, assurance and communication synthesizing information from leading frameworks
- Clarification of data requirements, choice of water accounting, risk indicators and metrics
- Technical support for WBCSD members on operationalizing the guidance
“Our global water resources are at great risk, and so are businesses that depend on and impact them. The Freshwater Accountability Accelerator will aim to provide companies with a streamlined journey to identify pressing water challenges across their value chains. It will also support them with setting ambitious targets to operate within local planetary boundaries and reporting back on actions that contribute to global water security as much as their own business continuity and resilience,” says Tatiana Fedotova, Global Water Lead at Quantis.
The integration of various frameworks and standards
With many emerging frameworks and standards — Science Based Targets for nature (the first release due later in 2023, will include freshwater methods), the Alliance for Water Stewardship (AWS) Standard, the Taskforce for Climate-related Financial Disclosures (TCFD) and the Taskforce for Nature-related Financial Disclosures (TNFD) — it can be difficult for businesses to coordinate their water-related goals to meet the outlined requirements. The Freshwater Accountability Accelerator aims to merge these frameworks into one place so that companies have clear guidance on the requirements for setting effective water targets. This initiative will be developed throughout the year to ensure that companies demonstrate their progress toward ambitious freshwater commitments.
Read the full press release here.
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