Image via ACCA
Carbon emissions accounting and reporting is a practice already underway, or at least under discussion, in most entities. But how about water footprint accounting? It seems the Association of Chartered Certified Accountants (ACCA) wants to get a jump on things and is calling for accountants to brush up on methodologies for water consumption. Business Green lets us know that yesterday the ACCA released a report called Water: the next carbon? , and is being proactive in getting accountants to look at how water footprints can be measured and reported. The group is already working with WWF-UK on assessing current UK water accounting and reporting processes.
The two organizations both agree that water accountability is every bit as important to the environment as carbon accountability, and it is in both companies' and the planet's best interest to get on top of accounting practices now.
The report states that not accounting for water footprints puts businesses at risk not only for physical issues associated with water scarcity, but also financial, regulatory and reputational. It's encouraging to see a major industry association taking a proactive role in water issues. The report is short and well worth a read.