Yorkshire Water first with environmental profit and loss account

Yorkshire Water has become the first UK water company to put a monetary value on its environmental impact.

The firm has developed an environmental profit and loss account (EP&L), which it says will allow it to better manage the challenges posed by climate change, resource scarcity and a growing population.

The EP&L enables Yorkshire Water to analyse its environmental impacts through a comparable, simple cost metric, which can be understood throughout all parts of the business.

For example, Yorkshire Water has been able to highlight local water scarcity levels at abstraction and recharge sites by applying regional environmental valuations to traditional volume-based water use metrics.

Simon Barnes, programme director at Yorkshire Water, said: “It provides a fast view of our environmental impacts that can be easily understood by everyone, from suppliers, customers and regulators to our own board members and business managers.

“Key to its success is its ability to highlight risks and opportunities that drive our long term business strategy, and is key to the delivery of our strategic business objectives.”