On average, food companies improved their management of water by 10 percent compared to 2015, according to the report Feeding Ourselves Thirsty, published by the nonprofit investor coalition Ceres.
“The sector is still getting its feet wet, however: the average score for the largest global 42 food and agriculture companies in the report was only 31 points out of 100,” says Greenbiz. “Meat and agricultural producers lagged behind the packaged food and beverage industries.”
The agriculture sector consumes 70 percent of the global water supply.
In the report, Ceres looked at the largest 42 publically traded food companies, analyzing public data available on the firms’ governance and strategy around water, manufacturing supply chain and agricultural supply chain.
“The top-scoring brands were Nestle (82 points, up from 64 in 2015); Coca-Cola (72 points, up from 67); meat manufacturer Smithfield Foods (33 points, no change from 2015) and Olam, a newcomer to the report,” says Greenbiz. “Campbell’s, Coca-Cola, Diageo and Nestle are the only four companies that hold regular briefings on water issues, where the CEO and board are informed on environmental metrics such as water usage.”