Antea Group USA Releases Water Risk Assessment Methodology
April 27th, 2023: Inogen Alliance Associate Antea Group USA published its methodology for conducting Water Risk Assessments, intended to help organizations identify and evaluate water-related risks at a portfolio level with more transparency to create an equitable sustainable future for all businesses. The assessed risks include physical, regulatory, and reputational risks categories, and can be applied to identify a company’s operational water risks within their facilities, shared water challenges at the watershed level across their supply chains, and the organization’s enterprise water footprint due to their overall water management practices. Identifying, assessing, prioritizing, and mitigating these risks is crucial to help ensure business continuity on multiple levels.
What is a Water Risk Assessment?
Water Risk Assessments identify potential water-related risks for a company and its operations, which can serve as a baseline in setting water-related goals and determining mitigation actions. These assessments evaluate the relationship between water-related issues and how these issues translate into business risks. The results of a Water Risk Assessment allow companies to make informed decisions based upon a fuller understanding of vulnerability, hazards, and opportunities. Starting with a water risk assessment allows a company to be strategic, proactive, and agile in their policymaking and planning from both a local and global perspective. We will soon be sharing more information on the local water perspectives through the global Water Working group with a publication on SVAs (source vulnerability assessments).
How is Antea Group’s Water Risk Assessment Unique?
Water is a globally shared resource, yet it is used at a hyper local level. A unique differentiator for Antea Group’s Water Services is access to the extensive network of subject matter experts and partners through founding membership in the Inogen Alliance, a coalition of 6,000 ESG consultants with offices in 200 countries and projects completed in over 150 countries around the globe. Through this worldwide network of resources “on the ground", Antea Group is uniquely positioned to validate the data obtained from WRI and other publicly accessible tools with a level of granularity that may often be overlooked by large databases without local curation or validation. When addressing global water risks, looking through a local lens to understand the watershed and community context is crucial. Partnering with Inogen Alliance, founded by Antea Group, can provide multinational organizations with consistent quality and local coverage in any location.
“This methodology helps move the needle and empower clients to complete a water risk assessment themselves,” says Erica Pann, Senior Project Manager and Water Stewardship Service Co-Lead. “Water is a globally shared resource, but intense pressures from global water scarcity, urbanization, and population growth are straining supplies. Without water, businesses wouldn’t be able to operate. That’s why every business, big and small, should conduct a water risk assessment to evaluate their water risk both as a business and for the betterment of the surrounding communities.”
“A Water Risk Assessment can be leveraged to provide a multitude of insights,” says Natalya Holm, Senior Project Manager and Water Stewardship Service Co-Lead. “It can be used to safeguard operations in the near term, help inform business objectives in the medium term, and begin water stewardship strategy development for the future. While our methodology highlights that a Water Risk Assessment can be a flexible and customizable tool to answer the most pressing water risk questions our clients have, our primary mission is to showcase the value of a Water Risk Assessment as a first step to water stewardship strategy.”
The Water Risk Assessment Methodology is available for download here on Antea Group USA Water Stewardship services page. Watch for more to come from the global Water Working Group.
Global Presence of our Water Working Group
Inogen Alliance is an official sponsor this year of AWS Forum (Alliance for Water Stewardship), 16-17 May in Edinburgh, Scotland. Members of our global Water Working Group from 8 countries will be present at the event to meet in-person and discuss more of our global water services, including sponsorship presence from Antea Group Brazil, Antea Group USA, Chola Risk MS India, denkstatt Austria, and HPC Italy.
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