The World Wide Fund for Nature (WWF) has sounded the alarm on the alarming degradation of freshwater ecosystems and their immense economic value. According to WWF, natural water resources hold an economic value of $58 trillion, equivalent to 60% of the global Gross Domestic Product (GDP). Yet, these invaluable ecosystems are under constant threat from human activities.
Dismal Realities
WWF’s report, titled “The High Cost of Cheap Water,” highlights the severe consequences of undervaluing and degrading freshwater ecosystems. Hundreds of millions lack access to clean water, and billions lack proper sanitation. Water-related risks are jeopardizing food security and livelihoods, with nearly three-quarters of recent disasters linked to water.
Dwindling Wetlands and Wildlife
Since 1970, the world has lost 70% of its wetlands, and wildlife populations in freshwater have plummeted by 83%. This depletion affects people directly, leading to water shortages and food insecurity. Freshwater ecosystems, including rivers and lakes, have suffered from droughts, floods, and escalating pollution, resulting in a significant decline in food sources such as freshwater fisheries.
Water’s Vital Role
WWF emphasizes that water is not simply a resource that flows from taps but is a product of nature. Healthy freshwater ecosystems are essential for food security, biodiversity, and climate resilience. They also act as buffers against intensifying climate impacts.
Economic Significance
The report examines both direct and indirect economic benefits of water resources. Direct economic benefits, including household consumption, irrigation, and industrial use, amount to approximately $7.5 trillion annually. Indirect benefits, which often go unnoticed, are far more substantial, estimated at $50 trillion annually. These include water purification, soil health improvement, carbon storage, and flood and drought protection.
Threats to Freshwater Ecosystems
Two-thirds of the world’s largest river systems are no longer free-flowing, and wetlands are disappearing at three times the rate of forests. Unsustainable water extraction, industrial and sewage pollution, alterations to natural river flows, and climate change are all contributing to the degradation of freshwater ecosystems.
Impending Water Crisis
Billions of people worldwide lack access to clean water and sanitation, and around 46% of the global GDP could be at risk due to water shortages. The report cites the example of the Rio Grande, drying up due to excessive water extraction and worsened by climate change. Without immediate action, a 25% reduction in river flow in parts of the Rio Grande basin is anticipated by 2050, leading to catastrophic consequences.
Call for Urgent Action
WWF calls for immediate action to safeguard water resources. Governments, businesses, and financial institutions are urged to create plans for sustainable water infrastructure. The report cautions against focusing solely on infrastructure without addressing the root problem, which is the degradation of rivers, wetlands, and aquifers. Recognizing freshwater ecosystems as natural infrastructure and directing investments to reverse their loss is seen as key to success.
The WWF’s report underscores the critical need to protect freshwater ecosystems and ensure their long-term sustainability in the face of a looming global water crisis.