Water is fundamental to life. With competition for water continuing to grow, water dependent industries such as mining, are facing increasingly intense scrutiny, particularly when operating in water-stressed areas.
Already investors, regulators and civil society are seeking greater insights into mining companies' water management practices and risk exposure. And while many mining and metals companies are able to measure, monitor and report on water use, this reporting is often inconsistent.
Guidance and disclosure frameworks such as CDP Water, GRI and CEO Water Mandate have gone some way to creating cohesive and consistent water disclosure mechanisms, but they are not without their limitations. ICMM has developed guidance and a minimum disclosure standard to support the industry in making consistent, transparent and material water reports, based on key elements of existing disclosure and accounting systems such as the Mineral Council of Australia’s Water Accounting Framework.
Through quantifiable reporting of industry’s water footprint and disclosure of material risks and water management plans, mining and metals companies are better able to meet the information needs of different stakeholders, including company and external decision makers.
The guide is also available in Spanish.