This report provides an update on the 2017 benchmarking exercise examining the state of water risk exposure and stewardship in food and beverage (F&B), garment and mining sectors. For this edition, Sustainalytics, in cooperation with AP7, repeated the analysis of the same 299 companies on the five universal and three sector-specific indicators focusing on the key aspects of corporate water management. We present the 2019 status along with a comparative analysis of the developments since the initial benchmarking. Notably, on carrying out the assessment, we observed evidence of a positive engagement impact and accordingly this report also discusses the related benefits to investors and companies alike. Reflecting our belief in investors’ role in encouraging companies to improve their environmental, social and governance (ESG) performance and our view that water challenges require integrated responses, AP7 and Sustainalytics encourage all stakeholders to systematically explore and utilise the synergies in active communications and collaboration.