Despite the importance of water to life and business, corporations continue to undervalue it, according to a recent article in ESG Investor. Now, a group of long-term investors is trying to escalate action through the Valuing Water Finance Initiative.
From the article:
Belaina Negash, ESG Manager at South Africa’s Government Employees Pension Fund (GEPF), says the economic system treats water like its abundant and has no intrinsic value. Conor Constable, researcher at PIRC, which does corporate engagement work on behalf of the UK’s Local Authority Pension Fund Forum (LAPFF), says water is significantly undervalued “by almost all companies given how vital it is to business and to generating value."
Both GEPF and LAPFF are members of the Valuing Water Finance Initiative (VWFI), a new effort to engage with companies with a high water footprint to value and act on water as a financial risk.
