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Canadian Water Summit Reporting on Water Management Issues June 17, 2010
REGULATIONS & GUIDANCE United States SEC’s Interpretive Guidance on climate change disclosure: Changes in the availability or quality of water … can have material effects on companies Companies to disclose material impacts of:
REGULATIONS & GUIDANCE Canada NI 51-102 requires communication of environmental matters in continuous disclosure documents OSC to issue guidance on environmental disclosure requirements by Dec 2010 CICA provides related MD&A guidance
VOLUNTARY REPORTING Carbon Disclosure Project Water Disclosure request to be sent to 302 companies in high risk or water‐intensive sectors
VOLUNTARY REPORTING Global Reporting Initiative EN8 Water withdrawal by source EN9 Water sources affected by withdrawal of water EN10 Percentage/volume of water recycled/reused EN21 Water discharge by quality and destination EN25 Identity, size, protected status, and biodiversity value of water bodies and related habitats significantly affected by the organization’s water discharges/runoff
VOLUNTARY REPORTING Global Reporting Initiative EN8 Water withdrawal by source Water Recycled (000 m3) In 2009, we recycled 83% of all water used in our processes.
PROSPECTIVE DISCLOSURE Suncor – 2009 Sustainability Report “Suncor recently adopted a 10-year water management plan designed to recycle and reuse larger amounts of wastewater and tailings water, reducing our need to withdraw river water. This plan identifies costs greater than $500 million to execute…”
RECENT DEVELOPMENTS Integrated Reporting GRI: Standardized Integrated Reporting should be developed, tested, and commonly adopted by 2020 MOU signed by IFAC and Accounting for Sustainability International Integrated Reporting Committee formed