• Andreea Vasilescu, Partner |
  • Roxana Suciu, Senior Manager |
1 min read

Water is key to human existence, yet it is one of the most undervalued resources. Current behaviour poses a threat to our human life and health, the global economy, and natural ecosystems. Collective action must be taken now to combat the water crisis. Although Romanians were taught in school some years ago that the country is endowed with plenty of fresh water sources, today’s reality is far from comforting, as demonstrated by the fact that we have just experienced the world's hottest summer on record.

The water inventory of our Earth is confronted with dual challenges. On the one hand, there is an increasing demand for water, both residentially and commercially, as a result of demographic shifts and rapid economic growth. At the same time, we can anticipate a potential reduction in supply and quality due to climate change. Extreme weather events, including droughts, catastrophic rainstorms, and serious pollution affecting many global waterbodies, pose a risk to our communities and businesses.

All of us have a role to play in working to understand, address and mitigate water-related challenges, and businesses must take a leading role not only from an ethical and moral perspective but also to ensure sustainable business growth and resilient operations.

How businesses respond will be one of the most important challenges of the coming decade, and water accessibility, both in terms of volumes and quality, should be a subject on every executive’s agenda. 

Water stress is a reality in Europe. According to the European Environmental Agency, water scarcity already affected 38% of the EU population and 29% of EU territory in 2019. Fast forward to 2023, when we saw record-breaking temperatures, making the continent drier and increasing the risk of water scarcity. In Spain and France, we have already seen some water usage restrictions imposed on populations and businesses, which have had an impact on business-as-usual models and life habits.