The food, drink and tobacco sectors are leading the way in setting definite targets for reducing water use, according to a report by Water Disclosure, a new programme from the Carbon Disclosure Project.

CDP sent its first annual questionnaire to 302 of the world's largest companies asking for information on water use and other water-related business issues, on behalf of institutional investors, in a bid to boost transparency and drive sustainability.

Of the 150 companies to respond, all food, drink and tobacco companies had water-related targets. In contrast, just 8% of companies in the oil and gas sector did.

Thirty-nine per cent of the companies polled had already seen "detrimental impacts" relating to water, including disruption from flooding or drought, declining water quality, increased water prices and fines for pollution.

Speaking at the launch of the report in London last Friday, Molson Coors supply chain chief Greg Wade said CSR initatives were not being sidelined by fmcg companies.

"There is a strong link between our sustainability teams and those who help make things happen," he said. "CSR is not being sidelined in our company, nor in many of the food and drink companies that have reported in the CDP."