True Cost of Water: monetization of water risks, shared value creation, and local acceptability of extractive projects

Abstract

Among industrial sectors, water-related risks are undoubtedly most closely associated with the extractive industries. To date, the response by the sector has been limited to funding philanthropic projects and implementing Corporate Social Responsibility. However, Veolia has developed a decision-making tool that monetizes water risks, with a view to not only reducing costs and preventing risks, but also creating new business and social opportunities.

Keywords

• Extractive sector
• Water-related risks
• Monetization of water costs
• Creation of shared value