Why should I use the Water Risk Filter?
It’s too easy not to do. Designed for non-water experts, this tool provides a highly structured set of risk indicators with very limited information needed from you. The Water Risk Filter covers all relevant elements of water risks, all industries (standard classifications) and all countries of the world. It interprets the best available scientific data for you and translates it into risk numbers based on the questionnaire. Then, you can map your assessed facilities or investments on numerous water related map overlays. Finally, a structured set of responses and up-to-date case studies will give you a flying start in mitigating risk and developing a water stewardship strategy.
When should I use the Water Risk Filter?
For a company, the Water Risk Filter can be used to assess water related risks for your own operations, suppliers or growth plans. Regular re-assessments (annually) can show positive or negative trends. Also, it can be used to make strategic (long term) choices on your supply chain. The results of the risk assessment and the provided possible mitigation responses will provide you with guidance on where to focus on, including actions and programmes that can be initiated with suppliers, or other companies. For an investor or creditor, a risk assessment can help identify potentially significant risks for your client and therefore your return on investment. This can be done at both the due diligence phase as well as once the client company is part of the portfolio. This information can lead to technical advice to clients on how to better manage waster risk as well as pre-conditions for loans and investments and improvements for less risky investments.
Is this another separate water tool?
The Water Risk Filter combines the functionality of some of the existing tools into one tool, and provides input for other tools. For example, it uses the detailed river scarcity data from WFN, while providing answers to >80% of the questions of the CDP Water questionnaire.
What is the difference with other water tools?
Comparison with other water tools
Will it take much of my time?
No. In a couple of seconds you provide three parameters in the Quick View to perform a high level risk assessment: the name of the facility, the industry (from a list) and the location. To make the assessment facility specific, a questionnaire needs to filled in, which can be send in a secured way to facility managers if necessary.
Has the Water Risk Filter been tested?
Yes, thoroughly. It has been reviewed a number of times during the 20 month development process, by peer reviews of water experts, by risk management experts from financial institutions and consultancies, and the early Excel model and online tool have been tested with more than 10 financial institutions and businesses.
Are the risk methodology and the used underlying data sources sound?
Yes. The risk methodology has been tested by risk management experts from financial institutions and consultancies. It is based on a multiple-choice system with simple 1-5 scorings and tailored weightings. The underlying data is the best available global data source for each single risk indicator.
Does the Water Risk Filter assess business risks for the user, or risks for the ecosystem?
The risk indicators cover all elements of water related risks that can have a financial impact on the user. The idea is that because of the direct relationship between most companies and water, helping companies better understand water risks and provide them with guidance for action will ultimately help improve freshwater ecosystems.
Is my data secure? Is WWF or DEG able to use your data?
We take data security very seriously, as this is vital for the users of the Risk Filter. WWF is administrating the Water Risk Filter, not DEG. DEG will not be able to see any data outside their own data, just like any other user company. WWF will be able to monitor the usage of the tool and the results of assessments, but not able to use this or any company input data unless specifically agreed by that company. The security of the servers on which the Water Risk Filter is hosted is of the highest level.
Is long term maintenance of the Water Risk Filter secured?
Yes. DEG and WWF have arranged the financial support of the maintenance of the content of the underlying model and databases, and of the IT infrastructure and highly secured hosting. There are multiple ideas to perform further research some aspects of water related risks, such as local regulatory frameworks and enforcement, agricultural supply chain risks, and improvement of the industry specific weightings.