This is the world that the valuing water principles are trying to create
Water is one of our most precious resources, and it’s running out. As a global community we must recognise its multiple values, and work to protect the water we need to live and thrive. The Valuing Water Initiative’s work to implement the (WVI) five Principles for Valuing Water are the foundation for this work.
Could you imagine a world without water? For 40% of the world, imagination isn’t needed. These are water scarce areas, and it’s likely that figure will only increase. But the water crisis is not a problem only for those most affected (who often contribute least to its causes). We must come together as a global community to acknowledge the multiple values of water, and bring positive, systemic change to the way we manage this vital resource.
The Valuing Water Initiative’s (WVI) implementation of the five Principles for Valuing Water are a starting point for this work.
What’s the problem with water?
From melting glaciers to extreme weather events like drought, the impacts of climate change are affecting the water cycle. It’s a human and economic problem: around a billion people currently live in flood prone areas, and flooding causes $120 billion per year of damage to property alone.
Mismanagement of water resources is a further threat. Poor piping infrastructure and pollution are among the challenges we need to combat in order to use water more sustainably. A global and local mindset is necessary, as water resources often span international borders and serve a wide range of demands.
By 2050, 5 billion people will lack sufficient water for at least one month per year. Action on water is urgent.
Five Principles for Valuing Water
The value of water is not just financial, it is spiritual and health-related. The principles are a guide to understanding and communicating waters’ value, an essential element of efforts to protect it. So, what are they, and how do they work in practice?
1. Recognize and Embrace Water’s Multiple Values to different groups and interests in all decisions affecting water.
The value of water can be influenced by work, geography, culture and religion. It is important to understand and respect these differences in order to make decisions about water resources that are acceptable to all those who rely on it.
The Kafue Flats river basin in Zambia, for example, supports agriculture, hydroelectricity, and 30% of the nation’s tourism. Decision making around the flats must take into account the varied values to all those individuals and industries.
2. Reconcile Values and Build Trust – conduct all processes to reconcile values in ways that are equitable, transparent, and inclusive.
As a global resource, dialogue and compromise is essential to protect water in a way that builds, rather than erodes, trust between stakeholders, and that leads to systemic, rather than isolated improvements.
3. Protect the Sources including watersheds, rivers, aquifers, associated ecosystems, and used water flows for current and future generations.
As demand on water increases, we must innovate and improve the way we use, store, and reuse it.
The City of 1,000 Tanks project in Chennai, India, is one example of efforts to protect groundwater. Large tanks – including centuries old structures attached to temples – are used for water collection and storage. They provide drinking water and increase ground water levels, reducing flooding risk.
4. Educate to Empower – promote education and public awareness about the intrinsic value of water and its essential role in all aspects of life.
Highlighting the value of water through educational initiatives will encourage a broader range of stakeholders to engage in decision-making and sustainable practices.
5. Invest and Innovate – ensure adequate investment in institutions, infrastructure, information, and innovation to realize the many different benefits derived from water and reduce risks.
To address future challenges, from population growth to climate change, innovation and investment in water management will be vital. New ideas might draw on traditional practices, as in Chennai, or could harness modern technology like satellite farming.
Although the value of water is not always monetary, money can be one signifier of value. VWI has worked with non-profit Ceres to develop the Valuing Water Finance Task Force, which works with finance sector leaders to raise awareness among the corporate world of the benefits and importance of protecting water, and to show there is a financial imperative.
Water is valuable for everyone
The value of water is universal, even if that value feels different for different people. The Five Principles for Valuing Water presents an opportunity to highlight and capture that value, and ultimately preserve this essential resource – respectfully and systemically – for everyone.
