21 June 2012
Muscat: HSBC Group chairman Douglas Flint announced the launch of the HSBC Water Programme, a new $100 million, five-year partnership with WWF, WaterAid and Earthwatch to tackle water risks in river basins; bring safe water and improved sanitation to over a million people; and raise awareness about the global water challenge.
The announcement comes as a new report from Frontier Economics for HSBC reveals that by 2050, the top ten river basins by population are expected to produce a quarter of global GDP -" a figure greater than the combined future economies of the United States, Japan and Germany -" and a sharp increase from a current contribution of 10 per cent.
The report also forecasts that by 2050, without any improvement in water resource management , seven of these basins will face unsustainable water consumption, with significant to severe water scarcity, meaning at least 30 per cent of the natural water run-off is being consumed.
This could mean the GDP growth expected in the river basins would not materialise. In addition, ecosystems home to a quarter of the global population would see further permanent damage, affecting communities' and businesses' ability to thrive.
Flint commented, "Today's findings show that the future of river basins is critical for global economic growth. Rapid, collaborative action worldwide is needed to improve water resource management in river basins. The report also highlights the powerful economic rationale for improving access to freshwater and sanitation, at a time when total aid for water access and sanitation has actually declined. The HSBC Water Programme will benefit communities and enable economies to prosper.
Muscat: HSBC Group chairman Douglas Flint announced the launch of the HSBC Water Programme, a new $100 million, five-year partnership with WWF, WaterAid and Earthwatch to tackle water risks in river basins; bring safe water and improved sanitation to over a million people; and raise awareness about the global water challenge.
The announcement comes as a new report from Frontier Economics for HSBC reveals that by 2050, the top ten river basins by population are expected to produce a quarter of global GDP -" a figure greater than the combined future economies of the United States, Japan and Germany -" and a sharp increase from a current contribution of 10 per cent.
The report also forecasts that by 2050, without any improvement in water resource management , seven of these basins will face unsustainable water consumption, with significant to severe water scarcity, meaning at least 30 per cent of the natural water run-off is being consumed.
This could mean the GDP growth expected in the river basins would not materialise. In addition, ecosystems home to a quarter of the global population would see further permanent damage, affecting communities' and businesses' ability to thrive.
Flint commented, "Today's findings show that the future of river basins is critical for global economic growth. Rapid, collaborative action worldwide is needed to improve water resource management in river basins. The report also highlights the powerful economic rationale for improving access to freshwater and sanitation, at a time when total aid for water access and sanitation has actually declined. The HSBC Water Programme will benefit communities and enable economies to prosper.
© Times of Oman 2012
