Ambuja Cement Foundation and Samhita, a CSR consultancy, brought together key stakeholders in India’s development sector, primarily the water sector, on a single platform, to heighten the need for investment in this critical area at a special event.
The event witnessed the launch of Making a Case for Corporate Action in Water – a report that analysed companies on the NIFTY 50 to study their water risk exposure and map areas of interest and challenges in water for the corporate sector, across business, CSR, sustainability and share value.
- 84% of the companies reported CSR programs in Water
- 31 of the 50 stocks are in water intensive sectors
- Close to 65% of the water intensive stocks have operations in highly water stressed regions of India such as Gujarat and Rajasthan among other states
It also profiled projects of companies investing in water. This snapshot of the NIFTY 50’s water exposure provided insights into the national economy’s dependence on water. There was an evident urgency for companies to look at holistic and collective strategies that address all aspects of their involvement with water.
The report helps companies achieve this by identifying a continuum of responsible actions that companies can develop initiatives around; and the water value chain framework, which helps identify various means for corporate engagement in Water from a circular, life cycle perspective.
Priya Naik, Samhita’s Founder and CEO said, “As an ecosystem we need to move towards embracing more collaborative models if we are to make an effective impact in addressing the water crisis. The urgency and the immediacy of the water crisis, while grim, nonetheless present an opportunity for all actors in the ecosystem to come together, create and collaborate”.
More than 50 different funders, companies, social organizations, governments and communities convened to explore collaborations to address water scarcity, among other issues. Amit Chandra, MD, Bain Capital; Jayamala Subramaniam, CEO, Arghyam; Nimesh Sumati, Co-Founder, Caring Friends, and representatives from L&T, Yes Bank, MullenLowe Lintas, NABARD and Tata Water Mission accepted the invite from ACF and Samhita and explored how stakeholders could collectively navigate and mitigate the water crisis.
Speaking at the event, ACF Director & CEO, Pearl Tiwari said, “It’s encouraging that several stakeholders are serious about the issue and willing to act.”