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.
The retail sector is one of the major contributors to the world water crisis. According to the World Bank, the apparel and textile industry consumes a huge amount of water and is a major polluter of water at all stages of its value chain.
Starbucks Corp (Starbucks) is a specialty coffee retailer. It roasts, markets, and retails specialty coffee. The company, through its stores, offers several blends of coffee, handcrafted beverages, merchandise, and food items. Starbucks also offers whole bean and ground coffee, readymade drinks, snacks, and other beverages. Its brands include Teavana, Evolution Fresh, Starbucks Reserve, Princi, Seattle’s Best Coffee, and Ethos.
In the financial year (FY) ending 2021, Starbucks’ total water withdrawal was 24.18 million cubic meters of water, a decrease of around 10.71% over FY2019. The company withdrew 3,807.91 million cubic meters of water from indirect sources- packaging and agricultural commodities, 24.18 million cubic meters of water from direct operations, and 13.27 million cubic meters of water from licensed stores.
Starbucks aims to cut its water footprint by half by 2030. To achieve this goal Starbucks has set a target of 50% of water withdrawals to be conserved or replenished across Starbucks’ direct operations, stores, packaging and agricultural supply chain, prioritizing action in high-risk water basins while supporting watershed health, ecosystem resilience and water equity.
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