G20 Foundation Publications Australia 2014 | Page 96

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F O O D , A G R I C U LT U R E & W A T E R
F O O D , A G R I C U LT U R E & W A T E R
The value of achieving
water security
Benedito Braga, President, World Water Council
produced by businesses located in water-
scarce provinces. In Chile, which produces
one third of the world’s copper, more than
90 % of production comes from water-
stressed regions. In Australia, economic
instruments including water pricing and
water markets have produced excellent
results during drought periods.
The value of water to
secure our future
The capacity to manage the
uncertainties of too little or too
Water is more than a great
ecological asset of humankind. It is
the common thread connecting all
aspects of social development and
well-being. The international water
community is deeply involved in
defining a global development
agenda to place water security at
the heart of the debate.
Water security occurs when all people,
at all times, have access to water
in sufficient quality and quantity to
meet their human, economic and
environmental needs. This principle
relies on the ability to secure safe
drinking water for health and food
production, to effectively manage water
across multiple uses for solid economic
growth, and to guarantee healthy
ecosystems to sustain life.
Major concerns on water security arose
over the last decades. The increase in
competing water uses, the degradation
of the environment and challenges posed
by global changes all contributed to the
need to raise public awareness about
water access, its use and conservation.
Nowadays, almost 40% of the world’s
population lives in water scarce regions
due to changing climate patterns and a
lack of adequate investments.
Water for economies
to prosper
Water resources underpin economic
growth and consumers´ behavior. In the
coming decades, the demand for water
will increase in every sector. The world
is expected to face a 40% water deficit
between forecast demand and available
supply by 2030. All countries must now
be prepared to tackle water shortages to
meet their needs for power generation,
food production, transportation, tourism,
mining, and other uses.
As population is growing rapidly and
living standards are increasing, our planet
faces a soaring demand to meet new
needs. The effects of climate change
including floods and droughts are
disrupting food production cycles and
economic development. It has become
imperative to create the necessary
conditions to build resilient societies.
The management of water resources is
paramount to preventing shortages. In
China, nearly 50% of the national GDP is
much water is central to the ability
to grow and prosper, and requires
infrastructure. Certainly, the impact of
lack of infrastructure is much greater
in developing countries. While losses
due to floods and droughts in GDP
percentage in developing countries
represent an impressive 14%, in
developed countries it is four times
less. In countries like the US where
massive infrastructure has been built,
the cumulative benefits from avoided
losses in case of floods reach an
impressive USD700 billion.
It is clear that water security depends
on water infrastructure. However, water
security also calls for effective water
governance and requires having solid
institutions to manage water resources
efficiently and economic mechanisms to
incentivize efficient demand management.
Water is located at the crossroads of
alleviating poverty and mitigating risks.
It requires anticipating the consequences
of global changes by putting water
resource management at the heart of
our development strategy. It will depend
on our capacity to establish sound
institutions and make heavy investments
in infrastructure to allow trade-offs
serving all stakeholders and sectors. By
doing so, we will offer greater returns on
investment to our societies and major
savings in the long-term.
Water security is a lens through which
we plan infrastructure, build climate
resilience and prepare for long-term
sustainability. Adaptation responses to
global changes must converge with the
goal of water security for all.
Water as the key for
sustainable growth
We must recognize the interdependencies
and common goals embodied by the
principle of water security so as to create
the conditions for the long-term well-
being of cities, economies, societies,
environments, humanity and, indeed, the
planet as a whole. The technical solutions
already exist. However, economic
incentives and innovative means for
financing water infrastructure, along
with effective governance that will allow
the proper and efficient management
of water resources systems are key for
sustainable growth. ■
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