water industry in 2020 proves correct (it is estimated today at $400 billion per year), it would be about one-fifth as large as today’s global $4.5 trillion construction industry.
“We need to brace for what could easily be humanity’s greatest short-term challenges,” says Margaret Catley-Carlson, a former senior official with both the Canadian government and at the United Nations, a renowned global authority on water issues, and a CWN director.
She cites US-led research that, by 2030, global water demand will be 40 percent greater than today’s “accessible, reliable, environmentally sustainable supply,” which constitutes a fraction of the absolute raw freshwater available in nature. Filling the gap with supply-side measures only, however, requires an estimated $200 billion per year; an approach that both raises supply and lowers demand would require $50 to $60 billion.
Says Nicholas Parker, Chairman of the Cleantech group: “What people don’t often realise is how much water there is in everything we make and buy, from t-shirts to beverages.” “Virtual water” describes the volume “embedded” in a product during its production. A desktop computer, for example, requires 1.5 tonnes (1,500 litres) of water; a pair of denim jeans up to 6 tonnes; a kilogram of wheat 1 tonne; a kilo of chicken 3 to 4 tonnes; a kilo of beef 15 to 30 tonnes.”
Annual global trade in “virtual water” today is said to exceed 800 billion tonnes, the equivalent of 10 Nile Rivers.
And the financial world is looking ahead to the bottom-line impacts of a water-constrained world. Institutional investors managing tens of trillions of dollars are pointedly asking businesses for data about their vulnerability to potential water supply difficulties.
As many as 300 eminent scientists, policy-makers, economists and other stakeholders have gathered in Ottawa, Canada on Monday, February 28, 2011, for an international conference hosted by the Canadian Water Network, showcasing latest world research findings as well as proven news tools, ideas and best practices for optimizing water management in short-supply scenario.
“Canada’s relatively abundant water supply will surely be an asset in future as precious as oil was in the 20th Century,” says Mr. Parker. “It must be managed carefully to ensure it can be harvested sustainably in perpetuity, supporting the well-being of all members of the world community.”