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.