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#HLPWater

Charting a path to valuing the world’s most precious resource

Willem Mak's picture
Most people agree that water is an extremely valuable resourcefor farmers who depend on it to grow crops, for factories that need it to cool machines and spin turbines and, of course for life itself. But unlike most other valuable resources, it’s hard to place a price on water. The very fact that water is so important to people, economies, and the environment means that it is tough to even agree on a common way of valuing it.

12 moments for water in 2016

Li Lou's picture

2016 has become the year for water. From the World Economic Forum, COP22, to the Budapest Water Summit, water has been widely acknowledged as a key to achieving the Sustainable Development Goals, and essential to the climate change solution.

Here are the defining moments of 2016 that put water security and sustainability on the global agenda like never before: 

Tackling the vital challenge of financing the world’s water infrastructure needs

Guangzhe CHEN's picture
President of Hungary János Áder (left), President of Mauritius Ameenah Gurib-Fakim (middle) and Guangzhe CHEN, Senior Director for World Bank Water Global Practice (left) hosting a press conference at the Budapest Water Summit 2016.

We cannot talk about water and Sustainable Development Goal (SDG) 6 without also looking at everything that depends on it: from climate, food and electricity to families, farms and ecosystems. It is thus quite simple, if we don’t get it right on water, then we will not succeed in achieving the other SDGs either.

Water and climate change are also intertwined, with some regions at risk of losing up to 6 percent of GDP by 2050 if the growing challenge of water scarcity is not properly addressed.


So what is standing in between humanity and the SDGs related to water? 

One of the biggest hurdles is the lack of sufficient sources of finance. Financing the SDG sub-targets for water supply and sanitation alone will cost triple historic financing levels - an estimated $114 billion per year between now and 2030. The shortfall for financing irrigation and water resource management sub-targets will likely be as large, if not larger.