The rapid development of socio-economy in Shanghai is becoming more and more important and compelling. However, as one of the critical pillars supporting the development, the risk of water resource and water environment is becoming more and more serious. The water risks in basin scale destroyed most of Shanghai governmental effort on the water environment. Water stewardship is a new mechanism we can try. Overall, there is a double pressure of bad water quality and insufficient water quantity in Taihu basin, on the other hand, the driving force of the green transformation of enterprises is weak either. But under the pressure of water risk, it could be a better choice that NGOs lead and encourage the enterprises to take part in the water resources and water environmental management. Good news is that WWF has some exploration and practice on water stewardship, and has some good experience. We have to know that there is still some uncertainty in the water stewardship's further development because of some current governmental management.