Over 255 billion Euros Yearly to be Invested in Water Infrastructure Globally Until 2030 Due to Climate Change
World Water Council, Bonn, Brasilia, Marseille – The World Water Council (WWC) urges Governments, investment banks and funds worldwide to prioritize financing for adapting and mitigating water infrastructure to increase resilience to climate change effects. Dealing with climate change is at the core of the World Water Council’s goal to strive for the availability of safe water for all and to help increase water security at large. The WWC groups over 300 member organizations worldwide who, together, further global dialogue and international cooperation to adapt to and mitigate the effects of climate change on water security.
The UN 23rd Conference of Parties (CoP23), presided by Fiji, will be held in Bonn from 7th to 18th November. The CoP23 will feature water security as a connector for human development and a vector for climate change adaptation. The summit designated November 10th as Water Action Day within the Marrakech Partnership for Global Climate Action Programme and coordinated by members of the #ClimateIsWater initiative.
#ClimateIsWater was launched during CoP21 and is coordinated by the World Water Council. Its members include WWC, AGWA, SIWI, INBO, IUCN, the French Water Partnership, the Moroccan Ministry for Water, the Bill and Melinda Gates Foundation, UNESCO, the French Water Academy, IWRA, Water Aid and Women for Water Partnership, as well as 50 other member organizations from around the world.
The focus on financing is key to overcoming hurdles to achieving the UN Sustainable Development Goal 6 (SDG6) to make safe water and sanitation a universal reality by 2030 and will be addressed by a CoP23 High Level Panel on Water and Climate Financing on November 10th. Unlocking and tapping into financing will not only be a key focus for CoP23 but also for the triennial World Water Forum, to be held in Brazil from 18 to 23 March 2018.
Crucial to public health and economic development, the water sector faces major challenges in obtaining sufficient funding to meet investment requirements. According to UN publications, 80% of countries report insufficient financing to meet national drinking-water and sanitation targets, despite a rise in domestic budget allocations. Access to financing is a crucial step in the fulfilment of the UN Sustainable Development Goal 6 (SDG6) to ensure availability and sustainable management of safe drinking water and sanitation for all. The financing gap has been identified as one of the greatest barriers to achieving this target. Financial investment in water infrastructure would need to triple to 255 billion euros per annum, taking into account operating and maintenance costs to reach the United Nations SDG6.
With the aim of raising international awareness on water and climate change, documents, discussions and recommendations were compiled within the Water and Climate Blue Book as a tool to foster action. The Blue Book was developed by the Moroccan Ministry of Water, the French Ministry of Environment and the World Water Council for CoP22. A second edition with updates on progress and recommendations, including on financing water infrastructure, will be presented at the Moroccan Pavilion on the 11th of November during CoP23. Financing water infrastructure is a key element of the report.
David Hebart-Coleman, African Development Bank expert on climate change and water, underscores the importance of adequate access to existing climate change funds for water infrastructure financing: “Initially climate change was just seen as something we had to deal with. Now it is increasingly seen as an opportunity to push water up the agenda because we believe that most water supply and sanitation actions are climate resilient.”
“As part of the World Water Council, we seek to encourage continued dialogue between the water and climate communities as well as state and non-state actors for better water management and infrastructure financing within the uncertainty posed by climate change,” says Dogan Altinbilek, Vice President of the World Water Council.
Many of the discussions during this global environmental summit will pave the way to the world’s biggest water related event, the 8th World Water Forum which will take place in Brazil from 18th to 23rd of March 2018. World Water Council President Benedito Braga comments: “It is in water where we will find the best manner to adapt or mitigate the effects of climate change. We are united in our dedication. As the organizer of the World Water Forum together with the Brazilian government, we look forward to catalyzing change for a water-secure world during the 8th World Water Forum, which will unite over 30 000 stakeholders at the world’s largest water related event.” Listed attendees include Head of States, global leaders, opinion makers, and water and climate change experts. Registration for the World Water Forum is now open.
World Water Council spokespeople are available for interviews upon request
About the World Water Council:
The World Water Council (WWC) is an international multi-stakeholder platform organization, the founder and co-organizer of the World Water Forum. The World Water Council’s mission is to mobilize action on critical water issues at all levels, including the highest decision-making level, by engaging people in debate and challenging conventional thinking. The Council focuses on the political dimensions of water security, adaptation, and sustainability, and works to position water at the top of the global political agenda. Headquartered in Marseille, France, and created in 1996, the World Water Council brings together over 300 member organizations from more than 50 different countries. More on www.worldwatercouncil.org @wwatercouncil #wwatercouncil