$100 million water challenge program to be launched

HSBC, WWF, WaterAid and Earthwatch have announced they are to team up in an effort to address world water problems as part of a five year $100 million programme. The effort will focus on improving resource management in key river basins, bringing safe water and sanitation to millions of people and awareness raising for the global water challenge.

Water scarcity is becoming a growing concern in many parts of the world, as climate change and growing demand begin to bite. Water management is therefore an essential tool to provide for the communities of the future. In developed countries the strains on water resources mean hose pipe bans and damage to the agricultural sector, but in the developing world water scarcity can be a much greater problem.

A recent report says that by 2050, nine of the top ten river basins by population will account for a quarter of global GDP. Without any improvement in the management of water resources in these regions however, seven out of ten will face unsustainable water consumption.

The report also highlights the importance in economic terms in water management – Universal access to safe water and sanitation is said to be around $220 billion. It is against this backdrop that the joint programme is being launched.