General Mills CEO says water risk should be considered in business decisions

General Mills CEO says water risk should be considered in business decisions

General Mills has said that it will consider "water risk" factors when making business decisions as part of a new water policy.

The company said the policy provides the necessary framework to enable it to engage with stakeholders to improve the health of watersheds. The scope of the policy includes General Mills' supply chain and suppliers, the US food giant revealed.

"The company has pledged to factor water risk considerations into business decisions, including where to locate new facilities," General Mills noted.

In addition, CEO Ken Powell signed The CEO Water Mandate, a public-private initiative launched in 2007 by UN Secretary-General Ban Ki-moon.

Addressing the The Nature Conservancy (TNC) Global Water Summit, Powell said: "As a food company, food security is important to us, and we're tied tightly to nature. We know that without healthy water for land, ecosystems and wildlife, agriculture simply does not work. Businesses languish. Economies falter. People suffer."

General Mills has worked in partnership with the TNC since 2010. The Cheerios maker has established a global water risk assessment of all of its plants and growing region. "The company now has a clear picture of the most at-risk watersheds within its supply chain and is taking action to develop watershed health strategies for eight of the highest risk watersheds in its priority growing regions," General Mills said.