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The aim of this chapter is to determine the need for water management and accounting.

This chapter first gives an overview of water-related business risks and exposes the need for sound corporate water management and accounting; it then critically examines water-related issues from an accountability perspective. Furthermore, it gives an overview of Australian Standardised Water Accounting (SWA) and General Purpose Water Accounting (GPWA) as possible practices to strengthen water disclosure.

The present study confirms the need for, and the importance of, transparent, high-quality, credible and comparable water disclosure. Water is considered a public good and involves a public interest and, consequently, public responsibility for its usage, management and protection. Following this line of reasoning, the chapter draws attention to the need for accountability to be ‘public’ or at least shared between crucial stakeholders (government – at national and international levels, water industries, communities, environmentalists, NGOs, etc.).

Company efforts are commonly focused on internal and self-referred operations. The different and conflicting uses that may be made of water, and the fact that water is geographically and temporally sensitive, necessitate a search for more flexible and more extended forms of accountability. An implication of these findings is the need and opportunity to switch focus from a single/private perspective to a more general/public one, with benefits for all the stakeholders.

This research enhances our understanding of water management and accounting and may serve as a sound base for future studies on this challenging topic.

The research objectives of this chapter are threefold. First, we explore what is the current status of corporate water accounting tools and methodologies. Second, we develop a framework for analyzing corporate water accounting and reporting. Third, we investigate what French CAC 40 companies account for and report in relations to the water challenge.

We collected annual and sustainability reports from all CAC 40 companies as well as their water Carbon Disclosure Project (CDP) responses when available. We also collected all publically available corporate water accounting methodologies to assess the international water accounting field. We coded the data according to our designed framework via qualitative data analysis software.

Although water is seen as equally important to climate change (Association of Chartered Certified Accountants (ACCA), 2009), French multinationals have a very immature reporting on this topic. Most still do not report to the water disclosure questionnaire of CDP in 2014 and rely on basic figures such as global water consumption. We analyzed the multiple water accounting, reporting, and risk assessment frameworks that have mushroomed since 2000, and question the impact of this fragmented field on the maturity of the water performance reporting by French companies.

The developed framework for analysis of water reporting can be used for sustainability teaching at university level.

We developed the first comprehensive analytical framework for water corporate reporting assessment. Moreover, this research is the first comprehensive study of water reporting in Europe. We therefore contribute to extend our comprehension of corporate maturity in water stewardship and water performance reporting.

The purpose of this chapter is to examine the corporate water reporting of the selected South African listed food producers with regard to the activities of measuring, managing, engaging with their stakeholders, and disclosing of their water risks.

This chapter examined the sustainability and integrated reports of 14 food producer companies on the Johannesburg Stock Exchange (JSE), for the years 2013 and 2017. The company reports were examined using the Ceres Aqua Gauge™ as the framework.

The findings of this study are that there were improvements in water disclosure from 2013 to 2017. Most companies are disclosing the basic water reporting requirements. However, critical areas around stakeholder engagement and supply chain water management were found to be lacking.

This research contributes to the body of knowledge around water disclosure and increases the awareness of water scarcity and poor water quality in South Africa. Furthermore, the study highlights that the food producers could be doing a lot more with regard to water sustainability in their businesses and the country.

How water is managed is emerging as one of the core challenges of sustainable development and earth system governance (Pahl-Wostl, Gupta, & Petry, 2008a; Biermann et al., 2009). Floods and droughts already have a huge impact on human development and well-being. Adaptation to existing climate variability to reduce water insecurities is already a pressing need (Pielke, Prins, Rayner, & Sarewitz, 2007). Securing access to safe drinking water, allocating sufficient water to grow food, protecting life and property from floods, as well as maintaining river and floodplain ecosystems as countries develop economically, however, is a complex set of interlocking and dynamic challenges.

In decades since the Rio Summit, freshwater has become an increasingly prominent issue in the global arena and attention has turned to the role of the corporate sector. Various (predominantly voluntary) corporate water accounting standards currently exist, from water-related components in wide-ranging sustainability standards such as the Global Reporting Initiative through to standards specifically focused on water and/or a particular industry. While academic research on adoption of these standards is sparse, initial findings reveal generally poor water reporting in terms of both quality and quantity. In future, the major areas where reporting (and standards) could be improved are the provision of site-level water information and the assessment of water risk throughout the supply chain.

In Thailand, as in many other developing countries, a significant and coherent policy response to the challenges posed by climate change is just beginning to emerge. The initial emphasis was on meeting international reporting obligations and building a better understanding of the issues (OEPP, 2000). Most climate policy attention has focused on mitigation, in particular of the difficulties, and occasionally taking advantage of the opportunities, in decoupling growth in greenhouse gas emissions from social and economic development. While early concerns were expressed about impacts on water resources and agriculture, not much attention has been given to implementing specific adaptation measures.

In recent years, Costa Rica has experienced increasing economic loss from numerous climate disasters. To meet the challenge of reducing local vulnerabilities, it is necessary to incorporate the potential impacts of current and future climate disaster events into DRM policy, planning, and practice, both at the national and local levels. This chapter evaluates the current status of policy initiative on incorporating the climate disaster risk aspect in DRM planning at the national level in Costa Rica and discusses whether this initiative provides any answers to reduce climate disaster risk. The study applies a “checklist” as a means of evaluation.

Water insecurity is a big threat and a defining global challenge that causes social dilemma in the society. Analyzing all the previous chapters in this volume, this final chapter will discuss water use and its consequence of social dilemma, the key lessons and observations that trigger water insecurity, major challenges and success factors toward water insecurity, and how water insecurity can be minimized through the involvement of community people, and improvement of social stability in the form of common understanding. This chapter also emphasizes the linkage between local and national levels by the development of Integrated Water Resource Management both in quantity and quality aspects.

Owing to the climate change, the number of flood hazards and communities at risk is expected to rise. The increasing flood risk exposure is paralleled with an understanding that hard flood defense measures should be complemented with soft sociotechnical approaches to flood management. Among other things, this involves development of a dialogue between professionals and flood-prone communities to ensure that the decisions made correspond to the peculiarities of local socioenvironmental contexts. However, in practice, establishment of such a dialogue proves to be challenging. Flood-prone communities are often treated as mere recipients of professional knowledge and their local knowledge remains underrated. Building on an illustrative case study of one rural settlement in North-West Russia, we examine how at-risk communities develop their local knowledge and put it to use as they struggle with adverse impacts of flooding, when the existing flood protection means are insufficient. Our findings showcase that local knowledge of Russian flood-prone communities is axiomatic and tacit, acquired performatively through daily interaction of local residents with their natural and sociotechnical environments. Even if unacknowledged by both the local residents and flood management professionals as a valuable asset for long-term flood management, it is local knowledge that informs local communities' practices and enables their coexistence with the treacherous waters.

Water quality and quantity will become the principal limiting factor for sustainable development in many countries across the world. “Everything living is created from water” is an ancient quotation, which closely describes the importance of water. Water insecurity is a social dilemma in the recent decades because of several factors. Moreover, the widespread presence of arsenic in groundwater, salinity in both surface and groundwater, and the insidious disaster of drought make the water insecure and the population faces water risk in their daily life. Safe drinking water as well as health problems is an issue of concern in many countries on all continents, particularly in Southeast and South Asia. Therefore, this chapter provides water insecurity issues in a broader viewpoint especially focusing on salinity, arsenic, and drought disaster that together enhance vulnerability of water sector.