Last year we heard a chorus of "water is the new oil," including a memorable BusinessWeek cover depicting oil baron T. Boone Pickens knee-deep in H20. This year the cry is "water is the new carbon" in response to a heightened awareness that resources such as water are more critical and valuable to a company's operation (and brand value) than previously assumed. If you are a water-intensive business such as the food and beverage sector, water is now at the top of your list of sustainability issues to address.
Yes, water is a key business risk that needs to be managed just as energy and carbon are now managed. But in fact, water is not the new oil or the new carbon, and neither comparison is a constructive way to view the value and risk of water within a business context.
Water presents several unique challenges:
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