Our latest report, Valuing water: corporate engagement with internal water pricing, is based on CDP data from the 2024 disclosure cycle. It incorporates disclosures from 426 companies across 51 countries and 12 industry groups. The report was launched at New York Climate Week 2025.

​

Our analysis highlights that companies are using internal pricing to incorporate the materiality of water, although currently only 5% of disclosing companies set an internal water price, compared to 15% who price carbon.

​

Leading adopters apply shadow water prices to inform capital allocation, operational activity, scenario planning and corporate strategy. Internal water prices vary significantly across industries and countries. 83% of companies disclose that they apply internal water pricing only to direct operations. This narrow focus contrasts with best practices in integrated water resource management and collective action.

 

Except within Food, Beverage & Agriculture, most companies apply a uniform pricing approach that does not incorporate context-specific factors such as local water stress. This presents a significant opportunity for more nuanced frameworks to be developed. 

​​​