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1 – 10 of over 44000Qianjin Dong, Xueshan Ai, Guangjing Cao, Yanmin Zhang and Xianjia Wang
The purpose of this paper is to obtain risk indicators of water security of drought periods in which the indices of reliability, resiliency, and vulnerability are integrated.
Abstract
Purpose
The purpose of this paper is to obtain risk indicators of water security of drought periods in which the indices of reliability, resiliency, and vulnerability are integrated.
Design/methodology/approach
It is not reasonable that weight coefficients of different risk indices are often determined subjectively in conventional procedures, so the entropy weight method is introduced and chosen to solve the problem. Entropy weight method can get the weight coefficients of different risk indices objectively and is valid from the case study.
Findings
The feasibility and validity of entropy weight methods to determine weight coefficients of different risk indices objectively are recognized.
Research limitations/implications
Accessibility and availability of data are the main limitations.
Practical implications
The paper provides a more objective risk indicator of water security of drought periods for water resources managers.
Originality/value
This paper determines the weight coefficients of different risk indices for risk assessment of water security of drought periods based on hazard entropy. The paper is aimed at water resources managers and relative researchers, especially those who deal with risk assessment of water security of drought periods.
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Silvana Signori and Gerald Avondo Bodino
The aim of this chapter is to determine the need for water management and accounting.
Abstract
Purpose
The aim of this chapter is to determine the need for water management and accounting.
Design/methodology/approach
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.
Findings
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.).
Practical and social implications
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.
Originality/value
This research enhances our understanding of water management and accounting and may serve as a sound base for future studies on this challenging topic.
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The purpose of this study is to examine the relationships between changes in water efficiency, profit and risk for firms in the global Consumer Packaged Goods industry. This study…
Abstract
Purpose
The purpose of this study is to examine the relationships between changes in water efficiency, profit and risk for firms in the global Consumer Packaged Goods industry. This study also aims to consider the moderating effect of operational efficiency on those relationships.
Design/methodology/approach
Using a sample of 155 firms with annual corporate social performance and financial performance data from Bloomberg for the years 2010–2019, this study employs first-differencing panel regression models to obtain our results.
Findings
This study finds strong evidence that operational efficiency moderates the relationships between water efficiency, profit and risk. For operationally efficient firms, increasing water efficiency increases profit and reduces risk. But for firms that are not operationally efficient, this study finds the opposite effects. These findings suggest a threshold level of operational efficiency that firms should achieve before they can reap financial benefits from increases in water efficiency.
Originality/value
Despite the increasing importance of water efficiency as a measure of corporate social performance, its effects on financial performance are not well studied. The relationship between operational efficiency and water efficiency has also not been examined. This work provides empirical evidence to better understand these important relationships. The major implication for managers is that operational efficiency is a foundational capability that should be developed before focusing on efforts to improve water efficiency. For operationally efficient firms, improvements in water efficiency can be an important mechanism to increase profitability and reduce risk.
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Dushyanthi Hewawithana, James Hazelton, Greg Walkerden and Edward Tello
This paper aims to examine whether the disclosure obligations in areas of water stress required under the revised Global Reporting Initiative standard (GRI) 303 Water and…
Abstract
Purpose
This paper aims to examine whether the disclosure obligations in areas of water stress required under the revised Global Reporting Initiative standard (GRI) 303 Water and Effluents, 2018 will improve the quality of corporate water reporting. As a key new requirement is to disclose the impact of water withdrawals from (and discharges to) areas experiencing water stress, the authors examine the ambiguity of the term “water stress” and the extent to which following the GRI’s guidance to use the Aqueduct Water Risk Atlas and/or the Water Risk Filter will enable quality corporate water reporting.
Design/methodology/approach
The study is informed by the notion of public interest reporting, on the basis that the provision of contextual water information is in the public interest. To explore the ambiguity of the term “water stress”, the authors conduct a semi-systematic review of hydrology literature on water stress and water stress indices. To explore the efficacy of using the Aqueduct Water Risk Atlas and/or the Water Risk Filter, the authors review the operation and underlying data sources of both databases.
Findings
The term “water stress” has a range of definitions and the indicators of water stress encompass a wide variety of differing factors. The Aqueduct Water Risk Atlas and the Water Risk Filter use a combination of different risk indicators and are based on source data of varying quality and granularity. Further, different weightings of water risk information are available to the user, which yield different evaluations of water stress. A variety of approaches are permitted under GRI 303.
Practical implications
Effective implementation of GRI 303 may be impeded by the ambiguity of the term “water stress”, varying quality and availability of the water stress information and the fact that different water stress calculation options are offered by the water databases. The authors suggest that the GRI closely monitor compliance, implementation approaches and scientific developments in relation to the water stress requirements with a view to providing further guidance and improving future iterations of the standard.
Originality/value
Whilst there have been many calls for improved contextual water reporting, few previous studies have explored the challenges to implementing reporting requirements related to the determination of “water stress”.
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The purpose of this paper is to reduce the potential for litigation by improving valuers’ awareness of water risks. As part of a valuer’s due diligence, the paper provides…
Abstract
Purpose
The purpose of this paper is to reduce the potential for litigation by improving valuers’ awareness of water risks. As part of a valuer’s due diligence, the paper provides guidance as to how to identify such risks by explaining the different types and examining how online search tools can be used in conjunction with more traditional methods to evaluate the probability of these risks occurring.
Design/methodology/approach
The paper builds on prior research, which examined the impact of water to and for valuations. By means of legal/doctrinal analysis, this paper considers relevant issues from the perspective of managing client expectations and needs. In so doing it identifies online tools available to assist in identifying at risk properties and better informing clients.
Findings
While the internet provides a variety of tools to gain access to relevant information, this information most commonly is only provided subject to disclaimer. Valuers need to ensure that blind reliance is not given to use of these tools but that the tools are used in conjunction with individual property inspections.
Research limitations/implications
Although the examples considered primarily are Australian, increasing water risks generally make the issues considered relevant for any jurisdiction. The research will be of particular interests to practitioners in coastal or riverine areas.
Practical implications
Valuation reports are sought for a variety of purposes from a variety of clients. These range from the experienced, knowledgeable developer looking to maximise available equity to the inexperienced, uneducated individual looking to acquire their home and thinking more often than not with their heart not their head. More informed practices by valuers will lead to valuation reports being more easily understood by clients, thus lessening the likelihood of litigation against the valuer for negligence.
Originality/value
The paper highlights the issue of water risks; the need for valuers to properly address potential and actual risks in their reports; and the corresponding need to undertake all appropriate searches and enquiries of the property to be valued. It reinforces the importance of access to the internet as a tool in the valuation process.
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Matthias Buchholz and Oliver Musshoff
Increasing environmental concerns have placed the need for an enhanced water resources management on the policy agenda. In this context, a restrictive regulation of water…
Abstract
Purpose
Increasing environmental concerns have placed the need for an enhanced water resources management on the policy agenda. In this context, a restrictive regulation of water withdrawals for irrigation has gained in importance. The purpose of this paper is to investigate how a reduction in water quotas and increased water prices affect risk‐efficient crop choices and the related economic implications for northern German farmers.
Design/methodology/approach
The authors apply a whole‐farm risk programming approach to a typical arable farm in northern Germany. By using irrigation field trials, production activities with varying irrigation intensities and inherently incorporated crop yield uncertainty are defined.
Findings
In contrast to increased water prices, a reduction in water quotas leads to higher water savings and lower economic disadvantages for farmers. Due to an adjusted portfolio crop choice, as well as irrigation intensity, the reduction in the expected total gross margin is partially offset.
Research limitations/implications
This example ensures volumetric water monitoring at the farm level which, however, remains a major pitfall in many other countries. From a methodological perspective, the crop yield distribution choice might affect the findings. Likewise, the consideration of downside risk in an irrigation context appears to be interesting for future research.
Originality/value
This is the first paper to compare the implications of differentiated water quotas and water pricing schemes suggested by the European Water Framework Directive, while taking risk‐efficient crop portfolio considerations into account. This approach facilitates water reallocation not only between crops, but also in terms of the crop‐specific irrigation intensity. Crop yields are based on a unique panel of micro data rather than expert opinions or simulations.
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Ernest Effah Ameyaw and Albert P.C. Chan
This paper aims to report on the partial findings of a research project on risk allocation in public–private partnership (PPP) water projects. It identifies risk factors…
Abstract
Purpose
This paper aims to report on the partial findings of a research project on risk allocation in public–private partnership (PPP) water projects. It identifies risk factors encountered in PPP water infrastructure projects, evaluates their associated risk levels and presents an authoritative risk factor list to assist the sector institutions to understand the important risks associated with such projects in Ghana.
Design/methodology/approach
A ranking-type Delphi survey was conducted to develop a rank-order list of critical risk factors.
Findings
Twenty critical risk factors with high impact on water PPPs were established. The top-five risks relate to foreign exchange rate, corruption, water theft, non-payment of bills and political interference.
Originality/value
Being the pioneering study, it holds implications for practitioners. By prioritising the risks according to their relative impacts on the success of water PPP projects, public and private participants will become more aware of and leverage efforts and scarce resources to address those significant factors with serious consequences on projects objectives. The paper adopts a research approach that can be used by future researchers in similar environments where PPP is novel and experts are hard to find.
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Marta Álvarez and Javier Rodriguez
The purpose of this paper is to investigate the relationship between single-state municipal bond fund risk and water scarcity in the USA.
Abstract
Purpose
The purpose of this paper is to investigate the relationship between single-state municipal bond fund risk and water scarcity in the USA.
Design/methodology/approach
The authors compare the risk profiles of funds from states with limited water resources with those from states without this issue.
Findings
The authors find that, as expected, funds from southern and western states, which suffer from water scarcity, are riskier than funds from other regions within the mainland USA. Although this study is concerned with which funds are riskier, it is noted that funds from the northeast are significantly less risky than funds from other regions.
Originality/value
Due to limited water resources, crumbling water infrastructure and continuous water-rights legal battles, water resources in the USA have become a highly sought-after commodity. In this study, we contribute to the discussion on the many repercussions of water scarcity on financial assets.
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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…
Abstract
Purpose
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.
Methodology/approach
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.
Findings
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.
Practical implications
The developed framework for analysis of water reporting can be used for sustainability teaching at university level.
Originality/value
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.
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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…
Abstract
Purpose
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.
Design/Methodology/Approach
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.
Findings
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.
Originality/Value
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.
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