The High Cost of Cheap Water

We stand at a critical juncture that demands action. The escalating impacts of climate change and rapid nature loss are creating a defining moment for humanity. The stability of societies and economies hangs in the balance.

Our report shows that amidst this crisis, a pressing opportunity emerges—an opportunity for global unity to directly confront these intertwined challenges. By addressing the overlooked but devastating freshwater crisis, we can shape a future defined by balance, resilience, and a world that embraces both nature-positive and net-zero goals. Water, our planet’s lifeblood, and the ecosystems that store and supply it — rivers, lakes, wetlands and aquifers — have been consistently undervalued. This oversight exacts a profound toll: a water crisis that corrodes human well-being and jeopardizes our planet’s health. The realities are stark: hundreds of millions lack access to clean water, billions lack proper sanitation, and water-driven risks imperil food security and livelihoods. Nearly three quarters of recent disasters have been related to water.

This challenge will intensify as populations and economies expand, increasing the strain on water supplies. Water serves as the primary conduit through which societies and economies bear the impact of the climate crisis — more extreme floods, droughts, shifting rainfall patterns and associated insecurity in food supplies, fluctuating river flows, wildfires, and deteriorating water quality. “We are draining humanity’s lifeblood through vampiric overconsumption and unsustainable use, and evaporating it through global heating,” said U.N. Secretary General Antonio Guterres.

We urgently need to reverse these losses because healthy freshwater ecosystems are central to ensuring water, food, and energy security, as well as tackling the climate and nature crises. Rivers alone support a third of global food production and provide sediments that sustain mangroves and keep deltas above the rising seas. Furthermore, healthy floodplains and wetlands act as natural defenses for our cities and communities against floods, storms, and droughts. At the core of this water crisis lies the dire decline of freshwater biodiversity and ongoing degradation of our ecosystems.

Over five decades, onethird of wetlands have vanished, and freshwater species populations have plummeted by 83 percent on average. These staggering figures underscore the harm inflicted upon our rivers, lakes, wetlands and aquifers. Urgent action is imperative to reverse these losses. Yet, persistent neglect of the national and global significance of freshwater ecosystems perpetuates their degradation, despite their immense value.

According to our report, freshwater’s economic value reached US$58 trillion in 2021 — equivalent to 60 per cent of global GDP. Governments and businesses tend to focus on immediate gains, often disregarding broader benefits. Recognizing the importance of healthy freshwater ecosystems, including their cultural and spiritual significance, is crucial for informed decision-making. Overlooking the diverse values of these ecosystems lies at the core of the global water crisis.

Since 1961, WWF has steadfastly safeguarded healthy freshwater ecosystems, ranging from local restoration efforts to global stewardship. While challenges persist, a growing momentum for waterfocused action is evident. The historic Global Biodiversity Framework and COP27 underscored the importance of water. And this year, the UN’s first Water Conference in half a century launched the Freshwater Challenge with the aim of restoring 30 percent of degraded rivers and wetlands by 2030. T

he world must take advantage of this unique opportunity to redefine water management and safeguard ecosystems. This report outlines essential steps to address the crisis and urges greater investment in Naturebased Solutions for restoring healthy water systems. WWF is dedicated to partnering with communities, governments and businesses and working across sectors, driving transformational efforts in freshwater ecosystems, and thereby enhancing our commitment to combating climate change and preventing biodiversity loss.

BY ADDRESSING THE OVERLOOKED BUT DEVASTATING FRESHWATER CRISIS, WE CAN SHAPE A FUTURE DEFINED BY BALANCE, RESILIENCE, AND A WORLD THAT EMBRACES BOTH NATURE-POSITIVE AND NET-ZERO GOALS. BY KIRSTEN SCHUIJT, WWF DIRECTOR GENERAL 

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• Risk Assessment
• Risk Analysis