Posted on 27 May 2021
WWF Water Risk Filter will partner with CDC Group, the UK’s development finance institution, to mobilize greater corporate awareness and action to address water risk in the face of climate change through the upcoming and enhanced Water Risk Filter 6.0.
Launched in 2012, the first version of the WWF Water Risk Filter was co-developed with the German Development Bank DEG and it was one of the first online water risk tools for companies and investors to assess water risks in their operations, supply chain and investments.
Over the past nine years, the WWF Water Risk Filter
has continuously evolved and become a leading tool to help companies and investors across the world better assess and respond to their water risk.
With the support of CDC Plus – CDC’s technical assistance facility funded by UK Aid from the British people – the WWF Water Risk Filter will be enhanced even further and the release of its new version 6.0 is aimed for October 2021.
Along with improvements to the website’s interface, the enhanced tool will more comprehensively integrate climate and socio-economic pathway scenarios of water risks, thus enabling users to perform scenario analysis across their portfolio of sites as recommended by the Task Force on Climate-related Financial Disclosures (TCFD).
“By providing forward-looking assessments of climate-water risks under different scenarios, the enhanced Water Risk Filter 6.0 will support companies and investors to make better informed strategic and investment decisions contributing towards a water-secure and climate resilient future,” said Ariane Laporte-Bisquit, WWF Water Risk Filter Project Lead.
CDC’s target markets are among the world’s most at risk to water-related challenges driven by climate change. As part of this partnership, the WWF Water Risk Filter scenarios will be applied to CDC’s portfolio to assess climate-water risks and identify opportunities for further collaboration to increase resilience.
Given the general lack of experience amongst private sector actors on how to apply climate scenario analysis of water risks as recommended by the TCFD, CDC will be the first financial institution to demonstrate its applications using the Water Risk Filter and how it can help incorporate climate-water risk and opportunities into investment decisions to build resilience.
Nikolas Stone, Director ESG at CDC Group, said “CDC is excited to be a lead partner for the enhanced Water Risk Filter tool as it strongly aligns with the adaptation and resilience pillars of our climate strategy. This partnership will help drive greater awareness and action amongst investors and companies on climate-water risk and help set the stage for further collaboration that will promote climate adaptation and resilience across our portfolio and throughout our markets”.