One of the worst droughts in living memory could see an improvement in the dismal level of reporting on water consumption by JSE-listed companies. At present, only one-third of listed companies provide shareholders with details of their water consumption. This despite the fact severe water restrictions have been experienced or are being contemplated across the country. Michael Rea, who compiles a detailed analysis of listed companies’ reporting on environmental, social and governance issues, says the poor levels of disclosure are worrying given the materiality of the issue. Access to reliable energy and water has been identified as the 11th most material issue facing listed companies in SA. "Consider how many companies had to install bulk water storage infrastructure to manage ‘flow shedding’ at their operations in places like the north coast of Durban, costing in one case more than R500,000 a month for a hotel to stock up when the municipality couldn’t turn on the pipes," said Rea....
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