Thirsty business: why water is vital to climate action - 2016 annual report of corporate water disclosure

Drought, flooding, and water-related regulations cost leading multinationals $14bn last year, according to a new report from CDP which argues many corporations are failing to do enough to address water risks. Released on the sidelines of the Marrakesh Summit, the report, entitled Thirsty business: Why water is vital to climate action, draws on water-related information disclosures provided to the NGO by leading multinationals. It found that disclosed water-related costs rose five-fold last year for the companies responding to CDP's information requests, soaring from $2.6bn to $14bn.The large increase was largely driven by one company, with Japanese power giant TEPCO reporting nearly $10bn was spent in the past financial year addressing groundwater pollution from the Daiichi nuclear power plant following the 2011 tsunami. But a host of other high profile multinationals also reported significant water-related costs.