DEAD IN THE WATER Ethical ownership and water management in the Norwegian Government Pension Fund Global 1 Coverphoto: Photography of ‘Thirsty’ poster by Sharad Haksar, Chennai, 2004. Report written and published by FIVAS – The Association of International Water Studies, 2014/2015. With Support from Norad. A special thanks to India Resource Center, http://www.indiaresource.org/, and Amit Srivastava for the help with this report and for longstanding advocacy and activism. Kolstadgata 1, N-0652 Oslo, Norway.
[email protected] www.fivas.org 2 3 Content 5 Introduction 6 The global water crisis 8 The Government Pension Fund Global 11 The Fund and responsible water management 13 Water in the Fund’s Ethical guidelines 14 Case studies - Corporate depletion of water resources Coca-Cola in India 16 Mehdiganj, Uttar Pradesh 19 Plachimada, Kerala 22 Kala Dera, Rajasthan 24 Nestlé 25 Discussion – Active and responsible ownership? 29 Leveraging the Ethical guidelines on unsustainable water management 32 Recommendations 33 The Coca-Cola Company, Nestlé 34 References 4 Introduction The world is facing a serious water crisis with However, as far as we can see, there have been few, increasing water scarcity and overuse globally. or none, external and critical analyses of the strategy The demand for water resources is growing rap- on water management and the ethical guidelines in idly mainly due to industrial use1, and beverage relation to the practice of water-intensive companies companies are one of the major industrial con- included in the investment portfolio. The main sumers2. Giant corporations such as Coca-Cola objective of this report is therefore to critically and Nestlé are currently expanding its production investigate and analyse the Fund’s guidelines and and sale of soft drinks and bottled water, especially practises on water management.