“This report shows that while water risks are complex, companies are making tangible progress,” said Kirsten James, senior program director for water at Ceres and report co-author. “By offering data-driven insights into how businesses are embedding water risk into operations, supply chains, governance, and strategy, this benchmark can serve as a reference point and catalyst for more ambitious water stewardship across industries.”
The benchmark, in pinpointing where water stewardship gaps persist and emerging best practices and innovations that are driving progress, is a key resource for investors who are engaging with portfolio companies on water risks through the Valuing Water Finance Initiative.
“Ceres’ latest water benchmark is a critical tool for investors to understand how companies are managing material risk posed by growing water scarcity and pollution across the globe,” said Illinois State Treasurer Michael Frerichs. “It provides us the context we need to assess and mitigate risk in our portfolios while supporting companies in realizing opportunities for improvement and collaborations to strengthen water stewardship and resiliency across their value chains.”
“This report provides a unique and much-needed line of sight into how corporate water stewardship strategies are evolving and how we as investors can meaningfully engage with companies to build strategies that address all aspects of water risk and build long-term business resilience,” said Matt Crossman, Stewardship Director, Rathbones Group Plc
The benchmark can be a valuable tool for companies to draw inspiration and lessons from peers, including successes and challenges within and across industries, to accelerate implementation of best practices and get ahead of setbacks others have experienced.
“Water is at the heart of sustainable food production and resilient supply chains,” said Nici Bush, Chief Innovation, Science and Technology Officer at Mars. “The Valuing Water Finance Initiative Benchmark helps guide and unite businesses in taking meaningful, science-based action on water stewardship where it matters most – in agriculture.”
“Water challenges and climate impacts continue to increase and addressing the risks is central to business, environment and community resilience. Water is an integral part of our sustainability and business strategy at Diageo, and it has been for many years,” said Michael Alexander, Global Head of Environment at Diageo. “This report supports the importance of this work and provides valuable insights for businesses and other stakeholders to inform strategies and manage risk across all aspects of water stewardship.”
“We’re honored that Gap Inc. has once again been recognized as the top apparel company—and among the top ten global leaders—on Ceres’ water stewardship benchmark. This recognition reflects the strength of our comprehensive water strategy and our leadership in advancing water access, replenishment, and supplier engagement to reduce impacts on freshwater. As we continue to bridge the climate gap, protecting water resources is essential to building resilience across our business and the communities we serve. We’re proud to lead with action that delivers measurable benefits for people and the planet,” said Dan Fibiger, Vice President of Global Sustainability, Gap Inc.
This report highlights protection of freshwater resources as a strategic imperative for companies — critical for building business resilience and helping ensure the well-being of people and nature throughout their value chains.
“Water security is essential to operating within planetary boundaries, yet it remains under serious threat from climate change and insufficient governance,” said Sara Traubel, Nature Lead Quantis Switzerland. “The 2025 benchmark shows that while some companies are making progress, most are still far from achieving water security by 2030. Only by properly valuing water can companies strengthen their resilience to climate change.”
Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and resilient economy. With data-driven research and expert analysis, we inspire investors and companies to act on the world’s sustainability challenges and advocate for market and policy solutions. Together, our efforts transform industries, unlock new business opportunities and foster innovation and job growth – proving that sustainability is the bottom line. For more information, visit https://ceres.org