A recent report by the Global Commission on the Economics of Water emphasises the urgent need for a global pact to conserve water, highlighting the increasing water crisis worldwide and its implications for food production and economic stability.

Overview: Established in 2022 by the Netherlands, the Commission’s report draws from extensive research by scientists and experts to analyse global water management.

• Key Findings:  
  • More than half of the world’s food production is at risk without improved water management.
  • By 2050, the crisis could reduce global GDP by 8%, with poorer nations facing up to a 15% loss.
  • Demand for freshwater may outstrip supply by 40% by the end of the decade.
  • A significant portion of the developing world is already experiencing water stress.
    • Over 1,000 children die daily from lack of access to safe water, predominantly in economically disadvantaged countries.

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Existing Issues in Rethinking Water Management

• Perception of water: Water should be recognized not as an abundant and limitless resource, but as a precious common good. 
• Lack of Political Will: There is a noticeable laxity in political action and a persistent lack of will to implement necessary reforms in water management.
• Harmful Subsidy Practices: The connection between harmful subsidies and inefficient agricultural water use is well-established, leading to unsustainable practices.
  • For instance, the cultivation of water-intensive crops like paddy in regions(Punjab, Haryana) with limited water availability exacerbates groundwater depletion.
• Industrial Pollution
  • Wastewater Management: Approximately 80% of industrial wastewater generated globally is not recycled, significantly contributing to water pollution.
  • Lack of Penalties: There is also a failure to impose penalties on industries for polluting water resources, undermining accountability.
• Policymaking Challenges
  • Support for Alternative Crops: If Minimum Support Prices (MSP) were extended to millets and other less water-intensive crops, it could encourage farmers to shift away from water-intensive agricultural practices.
  • Inter-State Water Disputes: India grapples with significant internal challenges, particularly regarding inter-state water disputes, which complicate effective policy making.
    • Example: Disputes between Tamil Nadu and Karnataka over river water sharing highlight the complexities of inter-state relations in water management.
• Lack of Global Governance
  • Absence of a Framework: Despite the interconnected nature of global water systems, there is no comprehensive governance structure for effective water management at the international level.
  • Limited Global Attention: The UN has convened only one water conference in the past 50 years, underscoring the minimal global focus on water-related issues.

Recommendations

• Political Will of Government: Foster a strong political commitment to implement necessary reforms in water management and conservation.
• Global Pact to Conserve Water: Establish an international agreement that emphasises cooperative efforts to manage and protect water resources globally.
• Recognize Water as a Common Good: Promote the understanding of water as a shared resource that necessitates careful management and conservation practices to ensure its availability for future generations.

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Conclusion

The Global Commission on the Economics of Water provides a vital assessment of the global water crisis and calls for immediate action. The insights from this report underscore the urgent need for future water policy reforms that promote sustainable management and equitable access to water resources.