Water is a potential business risk for extractives projects if not managed effectively. Recognizing the risks and opportunities associated with water management across the life cycle of oil and gas activities and ultimately gaining a broader understanding of the ‘value’ of water can aid business decision making. Effective water management also presents opportunities, for example, by acting as a mechanism to build trust with local communities, to help maintain social license to operate, and to contribute to long-term benefit sharing.
Understanding the ‘value’ of water to stakeholders, beyond the immediate boundaries of oil and gas operations, and how these diverse values translate into business risks and opportunities, is a potentially useful approach to managing water effectively.
IFC has been exploring the connection between water risk and value, and during this webinar will give an overview of their work to date. The webinar will outline the business case for water stewardship, and provide an overview of tools that IFC have developed to aid companies in this journey.