June 2014: The CEO Water Mandate and the World Wildlife Fund (WWF) have released a discussion paper on the role of business in water policy and development. The brief, titled ‘Shared Water Challenges and Interests: The Case for Private Sector Engagement in Water Policy and Management,’ advocates a corporate water stewardship agenda and responds to critiques that such strategies subvert the public interest and invite corporate policy capture.

The brief makes a business case for investing in sustainable water management based on the shared risk unsustainable water governance poses for both private and public users. It argues that coherent and consistent water regulation serves both business and society and that the public can benefit from private sector involvement. Examples of public-private engagement outlined in the report include: facilitating water-use efficiency; advocating for sustainable water policies and practices; sharing information; investing in public infrastructure; and using internal company facilities, resources and infrastructure in local water management.

The brief also recognizes potential shortcomings of private sector involvement in water governance, such as greenwashing, response to short-pressures over long-term drivers of sustainability and privileging private water access over basic human needs.

The brief concludes with a series of questions facing the corporate water stewardship community, such as on balancing public versus private investment and facilitating democratic engagement.

The CEO Water Mandate is a public-private partnership established by the UN Secretary General in 2007, with a joint Secretariat between the UN Global Compact and Pacific Institute. [Publication: Shared Water Challenges and Interests] [IISD RS story on UN Global Compact Briefs]