Bisleri to Introduce Water Credits for Beverage Industry
Mumbai: In a groundbreaking move, packaged water maker Bisleri is set to introduce water credits for the beverage industry, similar to carbon credits, to enhance accountability for water usage. The company has partnered with the TERI School of Advanced Studies to conduct a study that will establish a benchmark for water conservation in the beverage industry.
The initiative comes at a time when several large beverage makers have faced criticism for extracting water from water-stressed areas. Many companies have started reporting efforts to replenish the water used in their manufacturing processes.
Bisleri plans to share the findings of the study with the central government to facilitate discussions and develop a framework for implementing water credits in the beverages industry. This concept will allow companies to generate green credits through water conservation, water harvesting, and water use efficiency, similar to how companies purchase credits to offset their carbon emissions.
Angelo George, CEO of Bisleri International, emphasized the importance of creating a platform for water credits, stating, “This report is about proposing a model to the government—they can use and craft it. So, we are requesting the government to set up a platform as quickly as possible, similar to carbon credits, using this as a template.”
The study conducted by Bisleri and TERI School of Advanced Studies reviewed national and international practices in water trading, water credits, and fiscal instruments. It also developed a methodological framework to estimate the water footprint of production units, taking into account factors such as rainfall and consumption at a watershed level.
With water scarcity becoming a pressing issue in India, initiatives like the Green Credit Program (GCP) have been introduced to incentivize environmental actions, including water conservation and afforestation. However, challenges may arise in implementing the water credits system, as companies in the beverage industry are already subject to regulations governing groundwater usage.
Despite potential challenges, industry experts believe that the introduction of water credits will promote sustainable and environmentally friendly practices among companies. Nitin Bassi, senior programme lead for the sustainable water team at the Council on Energy, Environment and Water (CEEW), highlighted the benefits of efficient water use practices, including reducing water footprints and regulatory risks.
While creating a baseline water footprint for the industry may pose challenges, especially for smaller water units, the move towards water credits signifies a significant step towards promoting environmental conservation and responsible water usage in the beverage industry.