On the eve of the UN summit on water resources, several experts immediately warned of a great threat to humanity.
The world is facing an imminent water crisis, and demand for fresh water is expected to exceed supply by 40% by the end of this decade.
The Guardian writes about it.
According to the report, governments must urgently stop subsidizing water extraction and overuse due to abusive agricultural subsidies, and industry must fully review its wasteful practices, experts said ahead of a key UN water summit.
More than $700 billion in subsidies worldwide goes to agriculture and water supply every year, often contributing to excessive water use.
Johan Rockström, director of the Potsdam Institute for Climate Impact Research and co-chair of the Global Commission on Water Economics, as well as the lead author of the report, said that neglecting water resources is leading to disaster.
"The scientific evidence is that we have a water crisis. We're misusing water, we're polluting it, and we're changing the entire global hydrologic cycle because of what we're doing to the climate. It's a triple crisis," he said.
In his opinion, states should start managing water as a global common good, because most countries are highly dependent on their neighbors for water supply, and overuse, pollution and the climate crisis threaten water resources around the world.
The report makes seven key recommendations, including changing global water governance, increasing investment in water governance through public-private partnerships, pricing water appropriately, and establishing "fair water partnerships" to attract funding for water projects in developing countries .