Majority of businesses in the world are affected by climate and weather, from food production (afftected by drought, rain..), global logistic system(sea freight, air freight affected by storm, hurricanes), to paint-production(heavily reliant on water for production) and more.
Even big business conglomerates are not exempt from such effects, and here we will briefly look at the beverage industry and paint-producing industry.
“In 2021, Coca-Cola withdrew 298 million cubic meters (million m3) of water, an increase of 6% over 2020”
There were many news articles and debates about how Coca-Cola production alone would affect a water table of a specific location, as they draw 298million cubic meters of water in a single year for production. And that is assuming the effects on the water table when rain-fall is stable, what if there was a drought? Good corporate governance dictates that companies need to anticipate these 2nd order impacts of their operations and work to minimize the impacts of their operations.
The verge has covered Coca Cola water sustainability and the recycling controversy, but our focus is different. As we know that it isnt possible to recycle 100%, so if a large company such as Coca Cola needs to plan for a new plant, then taking in the effects of changing climate, and weather impact will also be important.
https://www.statista.com/statistics/1234225/water-use-ratio-coca-cola-company-globally/
Other than the beverage industry, there are many other industries that uses a lot of water, such as paint-producting. The paint-producting industry uses large volumes of water, about 284-321 million liters per day. Just like the beverage industry, being able to forecast ahead of time of the water level for planing new location, and affects by the current weather trend would be critical.
Last but not least, Irrigated agriculture uses about 60-70% of the water available for human use! Drought and change of water table level would heavily impact food production. Hence, a monitoring structure and system would greatly benefit such industry, to forecast and plan ahead of time such as observing the trend and potential change and future water level, and possibility to plan ahead of time. By using forecasting system to estimate the crop’s production yield, revenue would benefits such companies in their operations.
https://www.oecd.org/agriculture/topics/water-and-agriculture/
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