The Global Water Crisis: A Dire Call for Economic Reform

The global water crisis could disrupt over half of the world's food production and lead to an average loss of 8% in global GDP by 2050. The Global Commission warns that mismanagement, poor economic systems, and destructive land use combined with climate change exacerbate the issue, threatening human development and food security.

The global water crisis could jeopardize over half of the world's food production and result in an average global GDP loss of 8% by 2050, with poorer nations facing losses up to 15%, a report warns. The Global Commission on the Economics of Water highlights how frail economies, destructive land use, and the worsening climate crisis are stressing the global water cycle.

According to the commission, three billion people and over half of global food production are at risk due to drying or unstable water availability. Groundwater depletion is even causing some cities to sink. The report criticizes current water management practices for failing to acknowledge the multiple values of water across economies and ecosystems.

The report calls for proper pricing, subsidies, and incentives to promote efficient, equitable, and sustainable water use. It also stresses the need to value "green water," crucial for stable rainfall patterns and carbon storage, urging a transformation in the economics of water.

(With inputs from agencies.)