Challenge #1: Textile Industry Tracking
The textile industry uses a vast amount of water throughout the dyeing and finishing processes and is among the largest consumers of water among all industries. Moreover, the textile industry also draws attention with its high consumption of chemical substances applied into different processes (pre-finishing, dyeing, finishing, sizing and others). Therefore, WWF has a long history of engagement with this sector.
For WWF to effectively approach this sector and promote global strategies for the sustainable management of water, a comprehensive global analysis is crucial. The main aim of challenge #1 is to map the global supply-chain of the textile industry and define a plan of action for WWF, which should include a cross-correlation between the mapped textile operations and the most vulnerable geographies in terms of water: water scarcity, pollution, important ecosystem services, threatened species, and any additional relevant (-water related) layer.
Challenge #2: Water Risk Exposure
One of the most suitable angles for approaching corporates is to talk about water risks. Usually, water risks are calculated according to 3 different aspects: physical, regulatory and reputational. This approach provides companies and investors a complete overview of the multitude of aspects that might influence the risks that they face.
From the 3 categories, the reputational is the most challenging one, since there is little agreement and literature that covers the main aspects that affect a company’s reputation. Therefore the aim of challenge #2 is to propose a framework of (-water related) reputational risk exposure. Such framework might include existing approaches (i.e. media coverage, cultural importance of water and biodiversity richness) and/or aggregate innovative ways of informing corporates about their reputational risks due to their operations and locations.