Appendix: Case studies Holistic water valuation: case studies Pathway 1 CASE STUDY 1 Zurich Insurance’s methodology to help public and private organizations assess risk and resilience Organization: Zurich Insurance. Description: Zurich Resilience Solutions (ZRS) has developed a new methodology, which helps uncover climate risks until the year 2100 and can be used to assess risk and resilience. The methodology can be used by businesses, municipalities and other public entities to generate knowledge and insights for developing and implementing an action plan for increasing resilience and then evaluating and adapting this plan on an ongoing basis. By leveraging climate data, it can be used to create heat maps or other risk quantifications for data-driven and future-orientated analytics. Modelling climate risks and mapping them in specific contexts is key to understanding which interventions are required to increase resilience, as well as determining the value derived from these interventions. Assessing risk and resilience is essential for insurance and for informing investment decisions, especially with water infrastructure, which is expected to be increasingly exposed to risks from climate change. Source: See endnotes.82,83 CASE STUDY 2 Investor-led engagement to increase transparency around the value and importance of water across the value chain Organizations: Co-ordinated by Ceres and FAIRR. Description: In 2019, global investors representing more than $6.5 trillion in combined assets urged six of the world’s largest fast-food companies (Chipotle, Domino’s, McDonald’s, Restaurant Brands International, Wendy’s, Yum!) to take action to mitigate climate and water risks in their meat and dairy supply chains. To ensure resilience across their supply chain, these investors requested companies to: (1) develop strong supplier policies on climate and water risks, (2) set science-based targets (SBTs) to lower their greenhouse gas emissions, (3) improve their water use and (4) perform climate- related scenario analyses to understand risks and opportunities for their operations and businesses. A year after the launch of this investor engagement, the second phase of the initiative aims to continue dialogue with the six companies, with the added support of an expanded coalition of more than 90 investors, now totalling $11.4 trillion in combined assets. These discussions and engagements have enabled investors and companies to increase transparency and reporting around water, to better understand its true value and to appreciate what is at risk. Source: See endnote.84 Water Futures: Mobilizing Multi-Stakeholder Action for Resilience 32

Water Futures Mobilizing Multi Stakeholder Action for Resilience 2025