Water is one of the critical factors of ESG (Environment, Social, and Governance). Fresh and clean water is increasingly endangered despite being considered a plentiful renewable resource mainly due to population growth and economic activity leading to an increase in water demands and pollution.
According to United Nations, if current consumption and production patterns do not change, there will be a 40% shortfall in water supply by 2030. Companies are expected to face increased scrutiny such as limits on water withdrawal and tight regulations over their water use as global water resources face increased stress.
Globally, food and beverage companies face disputes with local communities over the amount of groundwater that can be withdrawn without depleting local resources.
ITC Ltd (ITC) operates a diversified conglomerate business. The company is involved in the business of fast-moving consumer goods, hotels, paperboards, specialty papers, packaging, agri-business, and information technology.
In the financial year (FY) ending 2022, the water intake of ITC was 33.7 million cubic meters, an increase of 6% over FY2021. The treated effluent discharge of the company was 22 million cubic meters which increased by 1% over FY2021.
The paperboards and specialty papers business has the most amount of water intake in FY2022 of 28.52 (cubic meters per tonne of product), a decrease of 13% over FY2021. Branded packaged food and hotel businesses had water intake of 1.83 and 1.51 cubic meters per tonne of product respectively. The company’s FMCG cigarettes business had a water intake of 3.23 cubic meters per million number cigarettes in FY2022.
ITC has set a target of a 40% reduction in water consumed per unit of production by 2030. The company also aims at the creation of rainwater harvesting potential equivalent to over 5 times the net water consumption from operations.
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