Voluntary initiatives and private cooperation for Sustainable Water Management: A case study of companies in countries of Latin America

Abstract: The purpose of this case study is to identify the driving forces that motivated various companies to implement sustainable water management (SWM) voluntary initiatives in four Latin American countries: Panama, Colombia, Ecuador and Brazil. Additionally, the case study explores opportunities on how strategic stakeholders, such as government institutions, NGOs, IGOs, financing institutions, and the companies themselves, can motivate the private sector to cooperate on water governance issues. The main data collection methods were semi-structured interviews and written questionnaires, which were used to consult with companies and strategic stakeholders. Both internal and external factors influenced the companies in this sample to participate in voluntary SWM initiatives. The most important driving forces included: upholding corporate values and commitments related to sustainable development; ensuring adequate availability, supply and quality of water for their operations; developing competitive advantage; reducing operational and production costs; preparing for stricter regulations; reducing potential conflicts with the communities where they operate and to communicate their environmentally responsible behavior to consumers, investors and other stakeholders. Strategic stakeholders can motivate companies to engage in SWM and governance issues by engaging them in multistakeholder platforms to support and oversee watershed stewardship, involving them in water related policy development and implementation, through incentive-based policies and mechanisms related to sustainable production, through lobbying campaigns, and by exchanging information about good SWM practices and tools.