THE ECONOMICS OF WATER: VALUING THE HYDROLOGICAL CYCLE AS A GLOBAL COMMON GOOD - Executive Summary

agenda, including the important work of the UN Special Envoy for Water and that being pursued under As Co-Chairs of the Global Commission on the the UN System-wide Strategy for Water and Sanitation, Economics of Water, we are convinced that the and the initiatives leading to the UN Water Conference world can turn the tide on this crisis. [...] The combined effects of changing interdependence through both blue and green precipitation patterns and rising temperatures water flows; second, the wicked interaction due to climate change, together with declining between the water crisis, climate change, and total water storage and lack of access to clean the loss of the planet’s natural capital; and third, water and sanitation imply that high-i. [...] THE ECONOMICS OF WATER: VALUING THE HYDROLOGICAL CYCLE AS A GLOBAL COMMON GOOD 19 Recommendations The GCEW offers a set of recommendations, to value and govern water so as to stabilise the hydrological cycle, enable food security and human dignity, and keep the Earth system safe for humanity. [...] • The ultimate ambition should be the establishment of a Global Water Pact that • Just Water Partnerships involving DFIs and sets clear and measurable goals to stabilise the national authorities should be established hydrological cycle and safeguard the world's to build capacity and mobilise investments water resources for a sustainable and just water for low and lower-middle income countries. [...] 30 THE ECONOMICS OF WATER: VALUING THE HYDROLOGICAL CYCLE AS A GLOBAL COMMON GOOD 31 The Global Commission on the Economics of Water (GCEW) is redefining the way we value and govern water for the common good.