NEW YORK, November 16, 2023 /PRNewswire/ — Droughts and floods in recent years have highlighted the importance of water as a strategic global resource. Climate change will affect access to water and force many countries to change the way they manage the resource, according to a new report from S&P Global Market Intelligence released today. The newly published Sustainability Outlook 2024: Water, Global Operational Challenges is part of the S&P Global Market Intelligence Big Picture 2024 Outlook series of reports.
In the new report, geopolitical risk analysts at S&P Global Market Intelligence found that water stress will continue to affect governments and businesses in the coming years. The prevalence of severe difficulties in predicting weather patterns is likely to continue around the world, affecting populations, the economic performance of countries and key industries that rely on water as a primary resource. The El Niño climate pattern is predicted to have a significant impact on the world in 2024. However, water stress will be a problem for many years to come in many parts of the world, particularly pronounced in Mexicosouthern Argentina, Indiathe MENA region, South Africa, Spain, Italy and Australia.
“Physical risks will play a key factor in business investment decisions, including the effects that water stress will have on production and on many countries’ plans to diversify their economies,” said Veronica Retameles Burfordsenior research analyst at S&P Global Market Intelligence. “As the world adapts, companies will need to prepare for increased scrutiny of water use, not only by regulators but also by local communities.”
Key highlights of the report include:
- Access to sufficient water supplies will be a central aspect of longer-term plans for economic diversification. Governments and businesses will face increased risk due to water shortages, including limited power generation, agricultural losses and supply chain disruptions, among other economic effects.
- Regional and national governments will need to make policy interventions and support businesses that deal with water stress.
- Efforts such as the use of desalination infrastructure will become more common as government and public pressure increases on water-intensive companies and sectors, requiring them to donate or forgo water supplies to increase availability for home use.
To request a copy of Sustainability Outlook 2024: Water, Global Operational Challengesplease contact [email protected].
The opinions, quotes and credit-related and other analyzes of S&P Global Market Intelligence are statements of opinion as of the date they are expressed and not statements of fact or recommendations to buy, hold or sell securities or to make investment decisions. and do not consider the suitability of any security.
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SOURCE S&P Global Market Intelligence