VIZAG: The world is facing an escalating water crisis, with the global hydrological cycle out of balance for the first time in history. This disruption threatens the foundation of human well-being, economic stability, and sustainable development, according to a new report released by the Global Commission on the Economics of Water.
The report, titled ‘The Economics of Water: Valuing the Hydrological Cycle as a Global Water Good,’ warns that global GDP losses from water scarcity could reach 8% by 2050, with lower-income nations facing losses as high as 15%. It highlights the urgent need for global action to restore balance to the water cycle.
“Decades of poor water management and undervaluation of freshwater resources have led to widespread degradation of ecosystems and contamination of water sources. Today, more than 1,000 children under five die daily from illnesses related to unsafe water and poor sanitation, while women and girls spend 200 million hours each day collecting water.
Additionally, agricultural systems are running out of freshwater, and many cities are sinking due to aquifer depletion,” the report read. The crisis, exacerbated by climate change, could threaten more than half of the world’s food production, particularly in areas experiencing unstable water availability. Nearly three billion people live in such regions, putting human security and food systems at risk.
A key finding of the report is that current water management practices have overlooked the importance of “green water,” which refers to the moisture in soils and plant life. Green water plays a critical role in maintaining rainfall patterns and supporting ecosystems, yet it has been largely neglected in favour of managing more visible sources like rivers, lakes, and aquifers.
The report stresses that preserving green water is essential for stabilising rainfall, mitigating climate change, and ensuring economic stability. “The degradation of freshwater ecosystems, including the loss of moisture in soils, has become a driver of climate change and biodiversity loss,” the report stated and proposed revolutionising food systems by improving water efficiency in agriculture, conserving natural habitats, promoting a circular water economy, encouraging sustainable innovation, and ensuring clean water access for all.
Others include reducing water usage in agriculture by a third while increasing crop yields and accelerating the shift to regenerative agriculture systems on 50% of global cropland by 2050. It called for the restoration of 30% of degraded forests and inland water ecosystems to regenerate green water flows and stabilise rainfall patterns. It emphasised that the conservation and restoration of green water are crucial for mitigating the impacts of climate change.