10/24/2024, 11:48:51 PM
As the world's water crisis worsens, experts have warned that unless action is taken to conserve water resources and prevent ecosystem destruction, over half of the world's food production could fail within the next 25 years.
Moreover, the Global Commission on the Economics of Water reports that half of the world's population currently experiences water scarcity, which is expected to rise due to intensifying climate catastrophes.
The analysis predicts that by the end of the decade, demand for freshwater will surpass availability due to “unprecedented stress” on global water infrastructure.
The commission found that governments and experts underestimate the amount of water needed for decent lifestyles, with humans needing over 4,000 litres daily for dignified living and sufficient food.
Added to that, the local inability to produce enough water for consumption leads to reliance on commerce for consumer items and food. Certain nations benefit more from “blue water” from rivers and lakes, which contributes to half of the world's rainfall over land. Healthy plants contribute to 40-60% of freshwater rainfall, with China, Russia, India, and Brazil receiving atmospheric river systems.
Besides, Prof. Johan Rockström emphasises the importance of sustainable forest management in Ukraine, Kazakhstan, and the Baltic region for the Chinese economy, while Brazil provides fresh water to Argentina, underscoring the need for global water integration.
Singapore's president and commission co-chair, Tharman Shanmugaratnam, concentrated on the need for nations to collaborate on managing water resources, preserving equity between the rich and poor, efficiently using resources, and ensuring access to fresh water for all communities, including the vulnerable.
Additionally, the Netherlands established the Global Commission on the Economics of Water in 2022 to assess the world's hydrological systems and management practices.
The 194-page report is the largest worldwide analysis, offering solutions to decision-makers on water issues. Climate change threatens stability, with droughts, floods, heat waves, and fires being the most severe manifestations.
Rising global temperatures increase add 7% moisture levels, accelerating the hydrological cycle. Deforestation and wetlands drain the cycle, affecting tree transpiration and soil water storage.
In addition, the loss of nature is worsening. Annual subsidies, estimated at $700 billion, cause water system distortions, leading farmers to consume more water. Approximately 80% of wastewater is not recycled, benefiting the industry.
World Trade Organisation director general and commission co-chair Ngozi Okonjo-Iweala stressed that countries must redirect subsidies, cut out detrimental ones, and make sure the poor are not left behind.
She underlined the need for more targeted subsidies, as current aid primarily benefits the wealthy and industry, highlighting the need to identify the true needs of impoverished individuals.
A study suggests that developing nations need funding to modernize their water infrastructure, provide clean water and sanitation, and prevent environmental degradation.
Similarly, Economics professor Mariana Mazzucato suggests public sector banks should lend to poor nations based on water reforms, allowing them to invest in water-intensive industries or improve conservation.
Consequently, profits should be reinvested in water-related research and development. Mazzucato points out the disproportionate impact of water issues on women and girls.
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