According to the EY Top 10 Business Risks and Opportunities for Mining and Metals in 2025 report, water stewardship is receiving increasing scrutiny from investors. Many mining companies have set targets and commit to advancing water stewardship, including disclosure to stakeholders.
Mining companies, investors and governments now recognise water as a key constraint to the sector’s growth—whether due to water scarcity, its excess, or social opposition. As a result, there is growing momentum for mines to adopt a water stewardship approach that builds business resilience while protecting people and environment.
The International Council on Mining and Metals (ICMM) launched its Water Stewardship Maturity Framework in November 2023 to guide mining and metals companies towards more responsible water use and management. The Framework provides a standardized approach, recognizing that water connects a mining operation to its surrounding landscape and communities. It aligns with leading external guidance and reporting initiatives and help organizations manage water as a shared and vital resource.
The Framework also supports integration of water considerations into broader corporate priorities such as climate resilience, cultural heritage protection, nature-positive development, social inclusion, and operational performance. It helps companies address the growing challenges of a changing climate, increasing pressure on shared water resources, and the need to ensure equitable access to water, sanitation, and hygiene for all. Applying water stewardship principles at mine sites has demonstrated benefits beyond traditional water management.
A water stewardship integrated tracking tool has been developed by SRK to assist mining and industrial clients to electronically capture their water stewardship progression in relation to either the ICMM Water Stewardship Maturity Framework or the Alliance for Water Stewardship (AWS) International Standard.
The tool provides opportunities to generate linked documents that support the operations water stewardship initiatives, providing both an interactive site-specific tool and an audit ready system. The tool incorporates the Water Stewardship Plan, which provides the roadmap for current and future water stewardship initiatives and the tracking thereof.
Water stewardship is becoming an essential part of corporate strategy—reducing costs, improving water security, and unlocking opportunities through collaboration. Using global best-practice tools such as the ICMM Water Stewardship Maturity Framework and the AWS International Standard helps mining companies mitigate water-related risks and contribute to a more water-secure future.
