In many regions of the world, sustainable and reliable delivery of water services has become increasingly complex and problematic. Complexities that are very likely to increase, considering the unprecedented confluence of pressures linked to demographic, economic, dietary trends, and climate change. Particularly if overall demand for freshwater exceeds supply, the delivery of water services is often less about engineering, although engineering is still required, and more about politics, governa nce, managing and protecting sources, resolving conflicts about water, ensuring rights to water are respected, and so on. It is also about understanding and monitoring the hydrological cycle at the appropriate scale of analysis. This is where water accounting and auditing can play a crucial role. The rationale behind this water accounting and auditing sourcebook is that scope exists worldwide to improve water-related sectoral and inter-sectoral decision-making at local, regional and national le vels. Water accounting and auditing are recommended by FAO and others as being fundamental to initiatives that aim to cope with water scarcity. This sourcebook aims to provide practical advice on the application and use of water accounting and auditing, helping users planning and implementing processes that best fit their needs.

This groundbreaking book examines the role that water accounting can play in resolving economic, environmental and social issues. One of the most pressing global issues of the 21st century is the scarcity of water to ensure economic, environmental and social sustainability. In addressing the issue through policy and management, access to high quality information is critically important. But water scarcity has many implications, and it is possible that different reporting approaches, generally called water accounting systems, can be appropriate to addressing them. In this key book, international experts respond to the question: what role can water accounting play in resolving economic, social and environmental issues at individual, organizational, industry, national and international levels? They explore how various forms of water accounting are utilized and the issues that they address. Academics and postgraduate students interested in water scarcity and accounting will find this book invaluable. Policymakers in all areas relating to water as well as environmentalists, water industry managers and water lawyers will find plenty of important insights in this essential resource.

There is growing interest in water accounting, why it is needed, what benefits it brings, and equally important, how it can be put into practice. Water accounting is not a new idea, yet it is an alarmingly simple one. It is about quantifying water resources and uses of water, much like financial accounts provide information on income and expenditure. Interest in water accounting is based on the premise that ‘We cannot plan and manage what we do not measure’ – a statement that few would disagree with. However, given the current focus on water as a precious and limiting resource, the risks of extreme floods and droughts, and water’s central role in the 2030 Agenda, it is difficult to understand why so little attention is given to water accounting and to making sure we have enough water. Indeed, estimates suggest that by 2050, if we continue with our current approach to water management, global water demand will exceed supply by over 40%, which would put at risk 45% of global GDP, 52% of the world’s population, and 40% of grain production (WWDR, 2016). This concern is supported by the World Economic Forum that consistently ranks water crises as a top global risk (WEF, 2015). Reports from South Africa (January 2018) suggesting that Cape Town may be the world’s first major city to face the prospect of running out of water following severe drought, is a timely ‘wake-up call’ for everyone to focus on accounting for water.

Advances in Environmental Accounting Management aims to advance knowledge of the management of corporate environmental impacts. It aims to increase the awareness of management accounting practitioners, investors, and other stakeholders of the financial and social consequences of corporate environmental impacts.

This Handbook provides a comprehensive study of research, practice and policy at the nexus of accounting and sustainability, or sustainable development. Chapters explain key drivers of developments at the nexus, critique those developments, summarise the findings of research on key themes in the field, and suggest areas for further research, offering evidence-based practice and policy solutions.