In light of the pressing water crisis in Bengaluru, a stark reminder has been served to corporate India about the critical need for sustainable water management. On World Water Day, a closer examination of the water consumption patterns of India's top corporations reveals a significant shift towards more responsible usage. According to the latest business responsibility and sustainability reporting (BRSR) data, there's been a commendable 16% reduction in water consumption among the top 1000 listed companies, from 5 billion kilolitres in FY22 to 4.2 billion kilolitres in FY23.

The collective effort of major corporations like NTPC, Reliance Industries, and IOCL has been noteworthy, with a slight increase of 2.6% in their water consumption, indicating a more conscious approach towards water usage. Notably, companies such as Vedanta, Reliance Industries, and IOCL have successfully reduced their year-on-year water consumption, showcasing their commitment to sustainability.

Understanding a company's water consumption involves recognizing the total water used that is no longer available for use by the ecosystem. This includes water stored for future use or discharge. The report also highlights a nearly 7% decrease in total water withdrawal by all companies, with a significant portion being sourced from surface water. Interestingly, there has been a sharp 64% decline in groundwater withdrawal, aligning with increased efforts to source water more sustainably.

However, the journey towards accurate and meaningful sustainability reporting is still in its infancy, as evidenced by the challenges faced in the first year of mandatory BRSR disclosures. A recent white paper points out inconsistencies in reporting, especially in measuring water intensity, which hampers the comparability of data across industries. Despite these challenges, there's a growing awareness and effort among companies to enhance water efficiency and reduce wastage.

In conclusion, as corporations strive to navigate the complexities of sustainable water management, tools like Probz.ai emerge as invaluable allies. Probz.ai, an AI-powered platform, offers qualitative and quantitative insights collection, enabling businesses to make informed decisions and adopt more sustainable practices. As we move forward, leveraging technology to enhance corporate sustainability will undoubtedly play a pivotal role in conserving our planet's precious resources.