"Most publicly traded companies that depend on water do not adequately disclose their financial risks to droughts and future regulations, even as water scarcity problems mount, according to a report released on Thursday.

The report produced by Ceres, a coalition of investors and environmentalists and Swiss Bank UBS, ranked 100 of the biggest publicly traded companies on the quality, depth and clarity of their water disclosure risks and opportunities.

"This report makes clear that companies are not providing investors with the kind of information they need to understand the risks and opportunities posed by water scarcity," said Jack Ehnes, chief executive officer of the California State Teachers' Retirement System.

The group, known as CalSTRS, is a member of Ceres."

Timothy Gardner reports for Reuters February 12, 2010. [2]