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Water Essentials

27 January 2022

Nicolai B. Kiskalt, Partner
Chief Executive Officer
BDO Centers LLC

What does water mean for all of us? Being the life cradle on Earth, water has remained the crucial lifeblood for humanity for millions of years. As a fundamental component for evolution and a vital element for most of the processes on the planet, water plays an essential role in biological, geological, social, economic, and political development.

Water is ambiguous. Remaining a priority for scientific research for centuries, it keeps the secret of its origin on Earth.

Earth is called the ‘Blue planet’ due to abundant water, covering about 71% of its surface. Despite this fact, less than 3% of the water on Earth is freshwater, and only 1% is accessible. As a rare resource globally, freshwater is also unevenly distributed around the globe, bearing many risks for the delicate environmental, social, and financial ecosystems, on which the communities rely. Water scarcity and its consequences, such as droughts and floods, which cause many short-term and long-term effects, are among the existing water issues that people must resolve immediately.

The uneven and limited access to water resources in some regions causes political conflicts, as well as determines the social and economic development of the countries by its essential inputs in all sectors: agricultural and food production, industrial development, energy, infrastructure. Global water use has increased six times over the past 100 years. It is growing steadily at about 1% per year alongside increasing population, economic development, and shifting consumption patterns. According to the future estimations, the global water demand will rise sharply by 55% within the next three decades, mainly reflecting the growing consumption by manufacturing (+400%), thermal power (+140%), and domestic use (+130%). Thus, the importance of water use in value chains across industries cannot be underestimated and global action is required to secure future economic and social safety.

But what should be done immediately to protect water safety and what actions could communities provide to thrive?

Learn more in our point-of-view “AQUA. The Future of Water: A Human and Business Priority” Part 1: “Water Essentials”