The oil industry continues to be named and shamed like a laggard in global efforts to improve investment to tackle water scarcity.
Royal Nederlander Covering and Exxon Mobil were both name-checked because the worst offenders for “persistently” neglecting to reveal water data for their investors via global disclosure group CPD.
The report discovered that only 37 from the 138 energy companies decided to disclose their investments in water projects, despite growing curiosity about water scarcity within the boardrooms of other industries.
Over the global economy 70pc of companies reported their oversight water issues this season, while purchase of water projects for example desalination plants, reclaiming waste water or improved irrigation to prevent droughts boomed to $23.4bn of investment across 1,000 projects in 91 countries.
But based on the United nations $6.4 trillion (£4.9 trillion) of investment is required globally by 2030.
CPD gave an “A” rating to greater than 70 firms this season, including companies for example drinks giant Diageo, Colgate Palmolive and Nestle.
In Colgate’s investor disclosures the tooth paste maker estimates the ‘true’ price of water might be 2.5 occasions the present retail cost when the requirement for extra investment is taken into consideration.
Exxon claims the gas and oil industry uses “far less” compared to agriculture or power generation sectors, even though this is concentrated in crude refining.
A spokeswoman for Covering declined to comment