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Report, released by Global Commission on the Economics of Water (GCEW), calls for governance of water cycle as a global common good and offers recommendations to value and govern water, enabling food security and human dignity.
Why we must govern the water cycle as a global common good?
- Interdependence and interconnectedness of communities, countries, and regions across local and transboundary water systems
- Neglect of economic drivers in governance of water resources.
- e.g., focus on “blue water” (rivers, lakes, and aquifers) overlooks “green water” (water stored as soil moisture and in vegetation).
- Intertwined nature of loss of planet’s natural capital due to disruptions to water cycle, climate change, loss of biodiversity
Key Findings of the Report
- Vulnerability: High-population density hotspots such as Northwestern India are particularly vulnerable to challenges associated with water.
- Poorest 10% of global population obtain over 70% of their annual precipitation from land-based sources.
- Economic losses: GDP losses from climate change, total water storage, and reduced WASH access to lower middle income countries such as India is around 14%.
- With the current trends, extreme water storage decline could make irrigation unfeasible, leading to a 23% reduction in global cereal production.
Key Recommendations
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