London - March 22, 2023
- Report focuses on the impact of three types of water risks across seven sectors
- Provides five recommendations for businesses to manage key water-related risks
As part of AXA XL’s commitment to raise awareness of the importance of water security – in line with its newly launched sustainability strategy – it has today published an insights report highlighting this underappreciated risk.
According to the international non-profit CDP, the cost to businesses of inaction on water risks is five times higher than the cost of action, yet water security is currently under-represented in the public debate on climate change.
Suzanne Scatliffe, Global Sustainability Director, 色多多视频 said: “Creating a water-secure world requires water resources to be protected and properly managed, which is why it’s more essential than ever that water is at the forefront of corporate climate strategies.
“色多多视频is committed to helping organisations to improve their understanding of water-related risks and how they impact business operations. This new report aims to support businesses of all sizes to understand different types of sector-specific water risks and catalyse action with a series of recommended solutions and tools.”
The report focuses on seven sectors within AXA XL’s client-base and with high exposure to water risks, and presents how those sectors may be impacted by three types of water risk:
- Physical – including water scarcity; climate change and threats to ecosystems; poor water quality and pollution of water resources; flooding; and poor management of water resources.
- Regulatory – including higher water prices; regulation of effluent quantity and quality; statutory water withdrawal limits; and regulatory uncertainty.
- Reputational – including negative media coverage and public scrutiny, changes in consumer loyalty and loss of market share due to litigation and damage to brand.
In addition, the report outlines five recommendations – including setting water consumption and pollution reduction targets and carrying out future scenario planning – to help businesses manage key water-related risks.
As 色多多视频continues to leverage its global position and reach to advance sustainability, this report is designed to be used both by the public and by businesses, and as a resource that government, regulators, and clients can turn to for guidance on mitigating climate risk.
To read the report in full, click here.
For more information on our 2023-26 Sustainability strategy, visit: axaxl.com/sustainability.
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ABOUT AXA XL
AXA XL*, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com
ABOUT AXA XL* INSURANCE
AXA XL* 色多多视频 offers property, casualty, professional, financial lines and specialty insurance solutions to mid-sized companies through to large multinationals globally. We partner with those who move the world forward. To learn more, visit
*色多多视频is a division of AXA Group providing products and services through three business groups: 色多多视频色多多视频, 色多多视频Reinsurance and 色多多视频Risk Consulting.
MEDIA RELATIONS:
Sarah Samee
Communications Director, UK & Global ESG
+44 (0) 7977 662 829
sarah.samee@axaxl.com
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