Why water conservation is a crucial CSR investment: Krupa Tanna of HDB Financial Services

Accounting for 18% of the global population, India is facing severe water stress due to rapid urbanisation, declining groundwater reserves and shrinking freshwater resources. In fact, the country has only 4% of the world’s freshwater reserves, with many areas largely dependent on monsoon rainfall to meet their ever-increasing water requirements. Against this backdrop, rejuvenating and restoring India’s freshwater lakes has assumed even greater importance; calling upon Corporate India to invest in water conservation efforts that can revive this vital ecosystem.

Why are India’s freshwater lakes drying up?

According to a study based on satellite imagery, climate data and hydrologic models of the world’s largest lakes, over 30 major Indian lakes have seen their water storage levels shrink considerably between 1992 to 2020. While climate change and human consumption remain the topmost reasons for falling water levels across India’s lakes; other factors such as sedimentation, industrial pollution and over-extraction of water for agricultural purposes are exacerbating the problem. In urban areas, encroachment and illegal construction in surrounding areas often disrupt the flow of rainwater into lakes, resulting in depleting lake water storage levels over time. To reverse this trend and revive these important freshwater lifelines, a range of conservation and rejuvenation efforts in conjunction with equitable water management policies are needed on an urgent basis.

Conservation efforts that are the need of the hour

For smaller lakes that are drying up or witnessing falling water levels, natural methods such as targeted afforestation efforts, restoration of adjoining canals and desilting of the lake bed can be highly effective when pursued diligently with the help of the local communities. However, for larger lakes and especially those in urban areas, mechanical hydro-raking, shoreline management and extensive water quality management solutions are usually warranted. From a sustainability perspective, it is vital that rainfall runoff reaches the lake body through natural drainage paths, with erosion control measures such as building check dams across channels feeding into the lake being necessary to prevent further silt deposition.

Additionally, it is equally important to restore the local biodiversity by planting native plants in regions adjoining the lake and introducing aquatic species that can naturally help in maintaining good water quality standards. Thus, restoring lakes require holistic water conservation efforts involving multiple stakeholders, with specific focus on addressing current issues and implementing sustainability initiatives that can replenish these complex ecosystems.

Channelling CSR contributions towards lake restoration efforts

Under the Companies Act, 2013, companies are obligated to comply with Corporate Social Responsibility (CSR) provisions, spending at least 2% of their average net profits earned during the preceding three financial years on projects intended to benefit the society.

Since lake restoration projects can secure critical freshwater resources in addition to unlocking significant benefits for local communities, they can be driven using CSR funds in collaboration with environmental and non-government organisations (NGOs) with local expertise. By leveraging the deep knowledge of conservation experts and organisations, corporates can efficiently allocate financial resources towards restoring lake water storage levels and plan community engagement initiatives to ensure long-term sustenance.

With hundreds of lakes across India facing declining water levels and incessant pollution, Indian companies can play a crucial role in conserving these surface freshwater resources. By adopting and conserving lakes as part of their CSR strategy, Corporate India can amplify ongoing water conservation efforts and give a huge fillip to safeguarding these lifelines for future generations.