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.
Groundwater is withdrawn by industries such as manufacturing, mining, oil and gas, energy and utilities, and construction. Apparel and food & beverage industries are highly dependent on groundwater through supply chains. According to Aquastat, 19% of global freshwater withdrawals come from industry and energy.
In terms of water withdrawal, the beverage and bottled mineral water sectors need to be careful because groundwater is a raw material for them. Globally, food and beverage companies face disputes with local communities over the amount of groundwater that can be withdrawn without depleting local resources.
General Mills Inc (General Mills) manufactures and markets consumer-based food products. The company offers its products under Blue Buffalo, Food Should Taste Good, Fruit Roll-Ups, Blue Basics, Cheerios, Chex, Cocoa Puffs, Cookie Crisp, EPIC, Fiber One, Fruit Gushers, Gardetto's, Go-Gurt, Gold Medal, and Golden Grahams brand names.
In 2021, General Mills consumed 13.6 millio cubic meters of water, a decrease of 5% over 2020. 38.4% of the total water consumed by General Mills was from the groundwater and 61.5% was from the municipal source.
General Mills has committed to the activation of water stewardship plans for the most at-risk watersheds by 2025. As of fiscal 2021, 3 of 10 priority watersheds have active water stewardship plans in place.
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