Nestlé highlights global water shortfall at Economic Forum
Nestlé chairman, Peter Brabeck-Letmathe, has highlighted the global water shortage in a speech at the World Economic Forum in Davos, Switzerland.
Brabeck-Letmathe warned that the water shortfall over the next two decades will reduce global cereal production by a third and could trigger social unrest. The water shortage would intensify competition between countries for access to water, he said. To help tackle the issue, Mr Brabeck-Letmathe announced that the 2030 Water Resources Group (WRG) is being scaled up.
The WRG is a public-private initiative that provides guidance and new policy ideas on water resource scarcity. It was formed in 2008 following the United Nations’ call for businesses and governments to address the issue of water security. Nestlé is part of the group working alongside other members such as McKinsey & Company and the World Bank Group.
Brabeck-Letmathe, chairman of the WRG, said that the group will benefit from funding from the International Finance Corporation and the Swiss Agency for Development Corporation. It will also receive support from the Inter-American Development Bank and other global companies.
Two documents from the WRG that demonstrate the need for political leadership on the water shortage issue, especially from countries such as India, Jordan and Mongolia, will be published for members of the International Business Council (IBC).
Source: Nestlé
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