Awareness around the physical, regulatory and reputational water risks to companies and their investors is on the rise; and robust, comparable and comprehensive data is needed to help assess these water-related risks. In response to this demand, the World Resources Institute (WRI) Markets and Enterprise Program developed the Aqueduct Water Risk Atlas, a comprehensive and publicly available global database and interactive mapping tool that provides information on water-related risks worldwide. The Aqueduct Water Risk Atlas provides a set of indicators that capture a wide range of variables, and aggregates them into comprehensive scores using the Water Risk Framework. Companies can use this information to prioritize actions, investors to leverage financial interest to improve water management, and governments to engage with the private sector to seek solutions for more equitable and sustainable water governance. This working paper describes the Water Risk Framework, the indicators it includes, and the methodology used to combine them into aggregated, comprehensive risk scores.