New York, NY, Oct. 31, 2022 – KPMG LLP, the U.S. audit, tax and advisory firm, and The Water Council, a nonprofit addressing critical water challenges, today announced a strategic alliance to collaborate for and promote corporate water stewardship and Environmental, Social and Governance (ESG) reporting.
As part of this new relationship, KPMG and The Water Council will work together to help companies to identify and manage water-related business risks, understand and mitigate their adverse impacts on ecosystems and communities, and contribute to more sustainable management of shared freshwater resources using The Water Council’s WAVE: Water Stewardship Verified program. Leveraging KPMG ESG Advisory services, this alliance will help organizations assess physical, reputational, financial and regulatory water issues and implement strategies that minimize those risks and promote the business's long-term sustainability.
“We are proud and excited to work with KPMG, with a well-deserved reputation for helping companies improve ESG reporting and performance,” said Dean Amhaus, The Water Council president and CEO. “There is a natural alignment between The Water Council and KPMG that will help companies mitigate water risk and position their water stewardship goals and accomplishments within a broader ESG framework.”
The Water Council introduced WAVE: Water Stewardship Verified in early 2022. The program helps companies improve and report water stewardship performance by helping them understand water uses, impacts and risks; approve corporate policies; prioritize sites for water stewardship action; and clearly communicate plans, goals and timelines. Progress is independently verified by SCS Global Services.
KPMG has a leading reputation and capability for providing ESG advisory services. This includes risk assessment services as well as developing an understanding of clients’ water conservation practices to help them prioritize sites and facilities and build a roadmap toward water stewardship.
“The Water Council is an innovative service provider in the water stewardship space, and we look forward to working with them to help our clients not only improve their own water management and risk assessment capabilities, but also credibly tell that story to the market,” said Rob Fisher, KPMG U.S. ESG Leader.
As businesses across the globe confront increasing water-related challenges impacting their operations and supply chains, company leaders are facing increased pressure from investors, customers and other stakeholders regarding water-related performance.
“To address material risks and enhance brand value, companies need to move beyond arbitrary water-use targets and strategize around the principles of good water stewardship,” Amhaus said. “This partnership will help them accomplish that.”
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About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 144 countries and territories and has more than 236,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients. Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.
KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy. Learn more at www.kpmg.com/us.
About The Water Council
The Water Council (TWC) is a global hub dedicated to solving critical water challenges by driving innovation in freshwater technology and advancing water stewardship. Built on more than a century of innovation, TWC has coalesced one of the most concentrated and mature water technology clusters in the world from its headquarters at the Global Water Center in Milwaukee, Wisconsin, USA. Recognizing the need for smarter and more sustainable use of water worldwide, TWC also promotes water stewardship as a natural complement to water innovation in the effort to preserve freshwater resources in the Midwest and around the world. Today, The Water Council has established itself as a global leader in the water industry and one of America’s premier economic development clusters as recognized by government agencies, Brookings and the Harvard Business School.