According to the World Economic Forum, water scarcity ranks first among all long-term risks worldwide. Australia, brazil and the United States are only a few examples of where droughts have affected everything from agriculture, hydropower and those everyday tasks most of take for granted. California’s annual snowpack this year was only 12 percent of normal — which has had a huge impact on the state’s skiing industry as well as its growing dairy sector. Finding solutions has proven to be a political minefield.
Meanwhile more businesses are starting to grasp the impact that the global water crises will have on their businesses, especially the financial sector. Recent announcements by both Wells Fargo and Bank of America indicate that banks are starting to take a larger interest in the threats that global water shortages will long have on society and the global economy.