95% of Colgate sites use Rutgers Business School 'True Cost of Water Toolkit', reported CDP

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Date: 
Monday, November 6, 2017
Location: 
Mumbai, India

CDP

Big business is investing in water security at record levels, according to the annual Global Water Report published today by CDP (the non-profit global environmental disclosure platform).

A group of 53 companies (7%) are establishing internal values on water that account for social and environmental costs and benefits that are often absent from pricing and decision making. The report states that when water is undervalued, the business case for action is often misunderstood or difficult to see.

Those placing an internal price on water include Colgate Palmolive Company and Diageo Plc. On average, Colgate has found that the 'true' cost of water is 2.5 times more than the purchase cost. The company uses a 'True Cost of Water Toolkit', developed with Rutgers University Business School and its Supply Chain Management Program. Used by 95% of Colgate sites, the tool was designed to quantify some of the hidden costs of water such as pre-treatment, pumping and wastewater treatment.

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TAGS: Corporate Partners Corporate Social Responsibility Supply Chain Management