of opportunities from financing water security in a recent survey undertaken by non-profit investor lobby group CDP. Banks can get a lot of bragging rights bang for their buck, too: Citi’s 2021 environmental, social and governance report estimated its work on water over two years benefited some, more than any other category including renewables and affordable housing – even though it soaked up, at $2.9 billion, only 1.3% of its total sustainable finance commitment for the period.
That impact is a drop in the proverbial bucket; more than two billion people currently lack access to safe water and, as the Global Commission’s report points out, mismanagement has pushed the "water cycle out of balance for the first time in human history”. Banking crisis or not, a few hefty commitments from governments, companies and investors at this week’s conference would start to unblock the dam. Without them, water’s big moment risks getting lost in the weeds.
The aim of the gathering is to ensure “that we all fundamentally understand, value and manage water better and take concerted action to achieve the internationally agreed water-related goals and targets, including those contained in the 2030 Agenda for Sustainable Development".Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.