Global Water Crisis Could Cost Billions

A recent report by the Global Commission on the Economics of Water warns of a looming global water crisis that could lead to GDP losses of up to 15% in lower-income countries and 8% in higher-income countries by 2050. The report highlights that human activities have disrupted the natural hydrological cycle for the first time, causing unprecedented stress on water resources, particularly in high-population areas like India and China. It calls for a reevaluation of water management policies, advocating for the recognition of water as a global common good to ensure equitable access and sustainability. The document notes that poor management and subsidies promoting overuse are significant contributors to the crisis, which threatens food security and human development. The findings underscore the urgent need for collective international action to manage water resources effectively. Without intervention, regions already suffering from water scarcity could face severe declines in agricultural productivity, exacerbating global food shortages.