The inexorable rise in demand for water to grow food, supply industries and sustain urban and rural populations has led to a growing scarcity of freshwater in many parts of the world. It is quite likely that after tax audits and mandatory corporate social responsibility norms, the Government of India is planning to introduce water audit and yearly water footprint disclosures in annual reports a mandatory feature for companies. The move is aimed at encouraging companies registered in India to adopt the best international practices on water use efficiency. Government of India will make it mandatory for companies to disclose the volume of fresh water used by them in their production activities and the volume of recycled water use per year. The Government will also make comprehensive water auditsand water footprint a recurring feature of industrial activity.
Many companies are adopting water audit and water conservation as part of their work culture at their respective manufacturing units, a mandatory including of water auditing and disclosure of water footprint in annual reports will go a long way in making corporate India improve its accountability towards reducing waste of fresh water.
What is Water Audit/Water Footprint?
A water audit is a “Systematic approach of identifying, Measuring, Monitoring and Reducing the Water Consumption by various activities in an Industry”
The water footprint of a product is the volume of freshwater used directly or indirectly to produce the product, and to run and support a business.