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PepsiCo has announced it will restore and protect a handful of watersheds in Latin American countries in which it operates, including Mexico, Brazil, Colombia and Guatemala. The company announced plans to "replenish" all the water used during manufacturing in high water risk areas by returning it to the watershed from which it was taken.

BP's shareholders overwhelmingly supported a resolution on Thursday that would force the company to disclose some of its climate change-related risks. The shareholder vote was extraordinarily lopsided, with about 98% of shareholders approving the resolution, which had the backing of BP's chairman, Carl-Henric Svanberg. The embrace of the climate change resolution is being called a watershed event in the history of climate-related shareholder resolutions, which investors large and small have been pursuing since 1999 to try to encourage oil, coal and gas companies to inform shareholders of their climate change-related risks and shift their investments into renewable sources of energy.

It's been almost 10 years since the Coca-Cola Company (PDF) vowed to "safely return to communities and nature an amount of water equal to what we use in our finished beverages and their production," with a deadline of 2020 for doing so. To get there, it teamed up with a broad array of NGOs and government aid agencies, who established clear rules for "replenishing" the aquifers and waterways that make up a watershed, and in 2015 the company announced it not only had reached its target five years early, but even surpassed it by putting 15 percent more water into the system than it took out. This tiny pack, however, is dwarfed by a massive herd of corporates that have made similar promises without offering any indication of how they'll deliver or whether they're making progress - and it's not just a water problem.

New research reveals burgeoning private sector involvement in watershed protection and restoration.

"Water is the ultimate shared resource," according to WWF's Lindsay Bass, and collaborative solutions to its depletion are crucial. WWF is working with companies to manage their water use through its Water Risk Filter tool and its strategic alliances with the private sector. I spoke with Bass about the opportunities for companies to improve their water management and become "positive actors" in shared watersheds. 

California's drought could cost Central Valley farms and irrigated agriculture $1.7 billion and some 14,500 jobs this year, according to a study by the UC Davis Center for Watershed Sciences.

Local farmers are stepping up to help conserve Kenya's upland forests, which serve as critical watersheds for the rest of the country. After years of corrupt government administration, control of the forests is being handed over to community forest associations that give farmers incentive to use forest resources responsibly. "People who used to be poachers and illegal loggers are now defending the forests," said Simon Gitau, warden of Mount Kenya National Park. Yale Environment 360 (2/26)