DAVOS 2011: Nestlé Chairman Peter Brabeck-Letmathe discusses the water security crisis at the World Economic Forum.
Nestlé Chairman Peter Brabeck-Letmathe joined government leaders and CEOs to discuss the water security crisis at the World Economic Forum (WEF) Annual Meeting 2011 summit today.
Heads of international organisations and businesses came together at the ‘Addressing the Water Security Crisis: Actions in 2011’ press conference to examine why water security is a cornerstone for economic growth and what public-private actions are now being undertaken to tackle the problem; while outlining decisions and progress made since last year.
As part of the five-day WEF summit in Davos, Switzerland, Mr Brabeck-Letmathe was joined by a number of leading figures including Imad Fakhoury, Minister of State for Mega Projects of the Hashemite Kingdom of Jordan; and Rachel Kyte, Vice President of the International Finance Corporation (IFC).
During the press conference, Mr Brabeck-Letmathe stated that he believed that water scarcity is already happening and voiced his concerns that should the current use of water continue to 2030, there will be insufficient resources.
He also announced that the 2030 Water Resources Group (WRG) would look at a new institutional framework and that its toolkit would be further developed to include the nexus water-energy.
Nestlé’s focus on water security follows on from its involvement with the 2030 WRG – which was formed in 2008 to contribute new insights to the increasingly critical issue of water resource scarcity.
The 2030 WRG released the Charting Our Water Future report last year following a year-long collaboration. Members include McKinsey & Company, the World Bank Group, and a consortium of business partners including Nestlé S.A., The Barilla Group, The Coca Cola Company, New Holland Agriculture, SAB Miller PLC, Standard Chartered and Syngenta AG.
Mr Brabeck-Letmathe is joined in Davos by Nestlé CEO Paul Bulcke who will appear in a panel debate on ‘The Future of Enterprise’ tomorrow at 18.00 CET on Friday 28 January.
World Economic Forum website
Charting our water future