In recent years, the business implications of climate change have gained considerable recognition among companies and investors. However, much of this attention has focused on energy policy and greenhouse gas (GHG) emissions, while neglecting the implications of changing precipitation patterns and resulting water scarcity and water quality risks. Despite a growing consensus among climate experts that freshwater is one of the resources most vulnerable to long-term climate change (Figure 1), there is little awareness and discussion about the potential consequences for businesses and their shareowners. Indeed, climate-related impacts on water resources are already being documented, causing real and imminent.
