What are the effects of droughts and floods on firms, farms and families? They are more significant and numerous than previously known. New data reveals how increasingly erratic rainfall, poorly managed water supplies, and deepening water deficits can devastate lives, damage farms and forests, and impact businesses as well as cities.
A new World Bank report ‘Uncharted Waters – The New Economics of Water Scarcity and Variability’ presents new numbers on how rainfall shocks – be they dry shocks or wet shocks – coupled with water scarcity are affecting generations.
On October 25, the report’s author Richard Damania shared key findings at the report launch event, followed by a panel discussion among civil society representatives, private sector and economists on the solutions that can help avoid the ‘parched path’.