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Water security for better lives A SUMMARY FOR POLICYMAKERS Water Security brochure [3]_Layout 1 27/08/2013 17:04 Page ii

“Water security is about learning to live with an acceptable level of water risk.”

Did the Ancient Egyptians have it right? Thirteen centuries ago, the “Nilometer” measured the level of to predict acceptability of risks along the : moderate inundation was synonymous with productive farming, while too little flood water would cause famine and too much would be equally disastrous, washing away the infrastructure built on the floodplain. Water Security brochure [3]_Layout 1 27/08/2013 17:04 Page 1

Water security for better lives A SUMMARY FOR POLICYMAKERS

What is water security? 2 Why do we need it? 3 Taking steps to address water risks 4 Market-based instruments for managing water risks 7 Policy coherence for water security 10

About OECD The Organisation for Economic Co‐operation and Development (OECD) is a multi‐disciplinary inter governmental organisation, tracing its roots back to the post‐ II Marshall Plan. Today, it comprises 34 member countries that are committed to democratic government and the market economy and the European Commission, with the major emerging economies increasingly engaged directly in the work. The OECD provides a unique forum and the analytical capacity to assist governments to compare and exchange policy experiences, and to identify and promote good practices through policy decisions and recommendations.

This work is published on the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of the Organisation or of the governments of its member countries. © OECD September 2013 OECD freely authorises the use of this material for non-commercial purposes. All requests for commercial uses of this material or for translation rights should be submitted to [email protected].

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1What is water security?

The OECD report, Water Security for Better Lives, increasing diversions to reduce the risk of proposes a fundamental shift in our approach water shortage can increase the risk of to tackling water security, applicable to both undermining the resilience of freshwater OECD and non-OECD countries. systems. Evaluating the impact on water risks of policy interventions (or lack thereof) Achieving water security objectives means requires weighing such “risk-risk trade-offs”. maintaining acceptable levels for four water risks: Water management, at its core, is about reducing or avoiding water risks and about l Risk of shortage (including droughts): lack distribution of the water risks that remain – of sufficient water to meet demand (in both that is, who bears the risk. Policy responses to the short- and long-run) for beneficial uses managing water risks can also transfer risks to by all water users (households, businesses others or defer them into the future. As and the environment) explained above, policy intervention may l Risk of inadequate quality: lack of water of increase other water risks. Current policies suitable quality for a particular purpose or often fail to recognize these unintended use effects (“externalities”) and to address these trade-offs between water risks. l Risk of excess (including ): overflow of the normal confines of a water system A risk-based approach addresses water (natural or built), or the destructive security first and foremost by determining accumulation of water over areas that are acceptable levels of each of the four key not normally submerged water risks in terms of their likelihood and l Risk of undermining the resilience of the potential consequences (economic, freshwater systems: exceeding the coping environmental, social), and balancing this capacity of the surface and against the expected benefits of improving bodies and their interactions (the “system”); water security. This will help to ensure that possibly crossing tipping points, and causing the level of water risk implied by different irreversible damage to the system’s policy actions reflects societal values and hydraulic and biological functions. that responses are proportional to the magnitude of the risk. A risk-based approach All four risks must be assessed in an also allows the identification of areas of high integrated way as interventions to reduce one risk where policy action should be given risk can increase other risks. For instance, priority.

What is risk?

Risk describes the likelihood and consequence of an at the intersection of hazard, exposure and uncertain event of which the probability of vulnerability. The reduction of any one of the three occurrence can be reliably estimated. Indeed risk is factors to zero consequently would eliminate the risk. Hazard

Risk

Vulnerability

Exposure

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2Why do we need it?

The cost of water insecurity to society There is concern that some segments of the illustrates the magnitude of the risks. Last population face greater risks because they year’s drought in the , for are more vulnerable (e.g. children), more example, nearly halved the contribution of exposed (living in areas at risk) and have the agricultural sector to US GDP over the more limited access to water resources and 3rd quarter. And the 2011 floods in Thailand services (e.g. poorer households). In slashed their 4th quarter GDP growth by a particular, microbial mostly staggering 12%, motivating the Thai Central hurts children. An estimated 1 800 children Bank to cut rates to aid the recovery in GDP under the age of five die every day from after the floods. diarrhoeal diseases linked to unsafe water supplies and poor sanitation and hygiene. The costs of policy inaction can be And groundwater shortage mostly affects considerable, not least because water the rural poor. In the family farming insecurity can have global impacts. This is systems of and Northern , because local water risks may impact on for example, 1.2 billion poor farmers rely global commodity markets (e.g. a major primarily on groundwater for their daily drought in a food exporting country drives income (Shah, 2007). up food prices worldwide) and disrupt supply chains on a global scale (e.g. the 2011 There is also a concern that disparities in Thai floods led to the closure of water risks can increase income multinational electronics and vehicle disparities. Because they invest less in industries, with impacts cascading through water security and are often living in areas the global economy) (Grey and Garrick, 2012). at water risk (e.g. areas of poor ), lower income groups are more Not only are water risks directly affecting exposed to water insecurity and users (e.g. through the depletion of water potentially “pay” a higher share of the resources), they also can result in significant costs of policy inaction (e.g. health costs) additional use costs (e.g. increased than higher income groups. In addition, abstraction costs due to groundwater water insecurity can marginalize those subsidence). Moreover, there can be costs who lack access to capital (e.g. to invest in associated with damages to non-use values, -deepening as a result of falling water such as the life-support function of water. tables).

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3Taking steps to address water risks

Water Security for Better Lives provides There is also more information available guidance on how to apply a risk-based on areas at risk of water deficit and, for approach to water security through a three- few pollutants (e.g. nitrates), on areas step process: “know the risks”, “target the vulnerable to water pollution. For risks” and “manage the risks”. example, France has delineated areas of chronic or groundwater deficit (i.e. insufficient to

MANAGE meet demand). These areas are subject to cost efficiency more stringent abstraction licensing and higher abstraction charge. Pursuant to the EU Nitrates Directive, EU countries are from practice Feedback

Feedback designating zones vulnerable to nitrates from practice TARGET pollution, with the aim of adopting acceptable level measures to effectively combat nitrates pollution in these zones.

KNOW assessment

Know the risks

A significant obstacle to improving water security is often a lack of knowledge on water risks and their scale.

In general, agreement on acceptable levels of water risks will be more likely if there is a common understanding of the problem at hand, its causes, and its impacts (over both the short- and long-terms), underpinned by But much more needs to be done to assess Zones of chronic water a robust risk assessment. In addition to all the uses and associated values of water deficit for surface water (left) and groundwater (right) in scientific and technical assessments of the resources and to ensure that those exposed France. risk, governments should also take into or vulnerable to risks have the knowledge to Source: Ministry of Ecology, account the risk perceptions of stakeholders. make informed choices about their own Sustainable Development and Energy, in Ben Maïd (2012). This promotes both transparency and welfare. accountability and can contribute to informed public debate about the acceptable It is important to anticipate and address all level of risk. The acceptance of a given potential risk drivers, including socio- instrument by stakeholders and their economic trends, natural phenomena and willingness to pay for risk management are inadequate water and water-related policies, strongly related to the degree of awareness even if they cannot necessarily be readily of the water risk the instrument seeks to quantified. address, thus the importance of undertaking concern assessment. “In general, agreement on acceptable levels of water risks A number of countries are taking steps to will be more likely if there is a common understanding of reduce this risk information gap. Flood risk the problem at hand, its causes, and its impacts, maps, for instance, are now required in many OECD countries, including in the underpinned by a robust risk assessment.” European Union (pursuant to the 2007 EU’s Floods Directive) and in the United States (for recipients of federal disaster assistance).

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Taking steps to address water risks

Steps in improving understanding of water risks

Partners must first agree on the risks in order to But discussions of risk in water planning should manage and prepare for them. not be dominated by uncertainty about hydrological conditions. Due attention must be The first step is to identify water risks, to measure given to economic, social, cultural and their likelihood and impact. Indeed improving environmental factors, which can be more knowledge and reducing information asymmetry important than hydrological uncertainties. are the basis for making effective and informed risk management decisions. An understanding of risk perceptions is also a fundamental step in “knowing the risk”, as the Good science and technical expertise are needed, perception of risk has an important influence on especially because water resource management is stakeholders’ decisions affecting their entering an era of uncertainty, greater variability vulnerability to the risk and risk management and increasing risks as a result of increasing water strategies. demand and pollution, as well as .

Target the risks

In many cases, decisions about the acceptable level of water risks are made implicitly, and Possible effect of climate change Acceptable risk are not the subject of informed public debate. And it is often (natural or man-made) Managed zone Unmanaged zone disasters – rather than carefully assessing Probability and managing risks in advance – that prompts countries to worry about their level Flood magnitude, pollution, drought severity Consequences, costs of protection against water risks. Source: Prosser (2012).

For example, in the aftermath of Hurricane level of groundwater allocation is set “The acceptable Sandy, is now looking at how to considering trade-offs between the risks to level of water risk strengthen its flood defences. In another environmental, cultural and social example, it was only after a cyanide spill into groundwater-dependent values (“in situ for society should the Tisza and Danube in 2000 that the values”) and the opportunity cost of not depend upon the Protocol on Civil Liability to the UN-ECE Water abstracting water for consumptive use balance between Convention was adopted in Kiev (in 2003). (“development risk”) economic, social The acceptable level of water risk for society and environmental should depend upon the balance between Targets for water risks should vary between consequences economic, social and environmental uses of water. For example, large to consequences and the cost of amelioration. protect downstream populations might be and the cost of The limit of cost-effective or practical water built to survive a 1:1 000 year flood. amelioration.” management is an element to consider when Residences and major roads might be built to evaluating the cost of amelioration. avoid inundation from a 1:100 year flood, Indeed completely eliminating risk is often while minor roads and recreational facilities technically impossible or just too costly. might only be secured from a 1:10 year flood. Similarly, urban water supply might be Governments need to focus on the systematic provided to meet demand in 95% of years and assessment of the expected costs and not cause any human sickness in 99% of benefits of options to manage water risks and years; whilst water might only meet to properly evaluate risk-risk trade-offs. For demand in 50% of years and have lower water example, in Western , the acceptable quality requirements, such as salinity levels.

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Taking steps to address water risks

Targeting the risks

Appraising water risk acceptability means environmental terms (e.g. deterioration of identifying areas subject to high-severity events, freshwater systems to reduce the risk of water including “tail events” (i.e. low probability/high shortage). impact risks), but also “slow-developing catastrophic risk” areas, which are subject to low Depending on the existing level of water security, but cumulative impacts (e.g. gradual depletion of incremental improvements may, in some cases, be water resources; accumulation of pollutants in disproportionally costly. By identifying the level of sediments). acceptability of risks, a risk-based approach fosters targeted and proportional policy responses. A water risk is deemed acceptable if the likelihood Emphasising the proportionality of action to of a given hazard is low and the impact of that address risk helps to avoid taking action where the hazard is low. In such cases, there is no pressure marginal cost of risk reduction exceeds the to reduce acceptable risks further, unless more marginal expected benefits. There is also the cost effective measures become available. potential for improvements in water security to be However, while the level of water security can be achieved by correcting existing policy failures that improved, this will generally come at a cost. This themselves are costly and are reducing the existing cost may be in economic (e.g. building new or levels of water security. In such cases, risk may be replacing old water infrastructure), social (e.g. reduced without imposing additional costs on closing water allocations to cap demand) and/or society by simply addressing the policy distortions.

Manage the risks

Allocating water risks between residential, agricultural, industrial and environmental uses raises significant political economy questions. Uncertainty about the values placed by producers and consumers on potential changes in water security can make any systematic effort to compare the costs and benefits of proposed targets complex for both decision makers and stakeholders.

A risk-based approach allows for assigning risks to the actors that are likely to be able to manage them most efficiently. For example, flood risks may be addressed more cost- efficiently through flood insurance or compensating farmers converting their land into flood plain instead of government investing in the construction of additional levies.

Once set, targets for water risks should be achieved as cost-effectively as possible. When considering which particular instruments should be used to meet a given target for water risk – among direct regulatory

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Taking steps to address water risks

measures, market-based instruments and public financial support – an assessment should be made of how each instrument, or the mix of instruments, is likely to contribute to the goals of water security and economic efficiency.

Another key dimension is the “social” dimension, including equity. By explicitly considering the distribution of water risks, a risk-based approach helps to ensure an equitable distribution of risks amongst stakeholders and can help to prevent the imposition of one group’s risk preferences on others.

As a result, policy options should be assessed from an economic and equity perspective, to ensure that risk reduction is proportional to the risk faced, pursued at least cost and taking into account the distributional impacts.

Implementing a risk-based approach for adapting water systems to climate change

Climate change is expected to increase water disseminating information. For instance, has risks and generate a greater degree of established a programme to monitor its glaciers, uncertainty than water managers have which provide the single most important source of traditionally had to cope with. Confidence levels replenishment for rivers, lakes, and groundwater in are often low in climate change projections for arid regions during periods of drought. key parameters needed for water management at local scale. A risk-based approach can Some countries have engaged in processes to provide a flexible, dynamic and future-oriented better “target” the risk by revisiting levels of approach in the absence of reliable climate acceptable risk. For example, the Netherlands is predictions. reviewing its flood protection standards in light of current and future challenges, including sea-level Considering climate change adaptation in the rise resulting from climate change. broader context of water security can ensure that adaptation is not undertaken in an isolated way Countries have also made some progress on that focuses only on climate as a risk driver to the “managing” water risks. For example, the United exclusion of other, often more dominant, drivers Kingdom is applying a real options approach to of water risks. At the same time, climate change flood risk management for the Thames Estuary to adaptation should also be seen as a prerequisite incorporate the uncertainty of climate change and to improving water security over the long-term. the value of flexibility into decision making.

The OECD report, Water and Climate Change Country profiles providing a snapshot of water and Adaptation: Policies to Navigate Uncharted climate change adaptation policies in all 34 Waters, reveals that the majority of adaptation member countries and the European Commission efforts to date have focussed on “knowing” the are available at: www.oecd.org/env/resources/ risk by building the scientific evidence base and waterandclimatechange.htm.

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4Market-based instruments for managing water risks

Did you know? Policy interventions to manage water risks Supply management and to facilitate trade-offs between risks In Denmark, urban will need to draw on the full range of policy The natural variability of water resources water prices – the instruments at governments’ disposal. and the large upfront costs related to water highest among These include traditional command and infrastructure investment has generally OECD countries – control instruments such as regulations, resulted in water infrastructure have contributed to standards and permits, as well as market- investments being made by public reducing the based instruments such as taxes, charges authorities rather than the private sector. average household and tradable quota schemes. This latter set To ensure that government resources are water use to 110 of instruments has a potentially important used to achieve the highest social returns, litres per head per role in improving water security by creating water supply investment decisions should day, compared with an incentive structure that uses market be made using cost-benefit analysis and long-term targets signals to influence behaviour rather than other tools to assess the trade-offs between of 130 lhd in relying solely on regulatory instruments. By increasing access to water and the costs of London and 140 lhd changing incentives through the use of providing access. in . price mechanisms market-based instruments can better signal the value of The use of scarcity pricing of water water among competing uses, including for resources can be used to signal the optimal environmental purposes. Market-based time to invest in large-scale water mechanisms can be used in a variety of infrastructure projects, thereby, avoiding ways to improve water security. the considerable welfare losses associated with water prices being raised to cover the costs of poorly timed investments. For Water security Recommended market-based Advantages of use example, analysis shows that if scarcity issue instruments pricing had been introduced in Sydney, Australia, at an appropriate time it could Water supply Marginal social cost pricing, Signals the optimal time to have reduced water demand to a level incorporating the scarcity invest in water infra structure which no longer required the development value of water so that supply is augmented efficiently of a costly new plant (Grafton and Ward, 2010). International and regional Allows trade of water from water markets areas of surplus to increase the water supply in areas of Demand management scarcity One way in which water demand can be Water demand Regional water markets Allows trade of water from low managed using market-based instruments to high value uses creating is to establish water markets. Indeed, a incentives to use water number of countries (such as Australia) are efficiently and reduce demand addressing the over-extraction problem by putting a cap on the amount of water that Marginal social cost pricing, Reduces demand for water can be extracted and by assigning a fixed incorporating the scarcity during periods of scarcity number of tradable user’s rights for value of water accessing the resource.

Water quantity Buy-backs of water user’s Secures water for Under a properly functioning market (where rights environmental flows and the number of user’s rights is not over- offsets economic losses allocated), access to the resource is no longer freely available, but depends on Water quality Emission permit trading for Allows pollution to be reduced acquiring the water user’s right. This creates point and non-point pollution from the lowest cost sources a scarcity value for water and an incentive Emission taxes Creates ongoing incentive for for individuals to use water more efficiently, all sources to reduce pollution for example, by employing water-efficient technology, adopting deficit irrigation, or

Source: Grafton (2011). growing less water-intensive crops.

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Water governance

For example, the success of water trading was Gross value of irrigated agricultural production in the Murray-Darling Basin highlighted in the 2007-08 drought in the 12 000 6 000 Murray-Darling Basin, Australia, where the gross value of irrigated agricultural ) 10 000 5 000 GL ) ( production fell only marginally despite a 8 000 4 000 ation g

decline in water availability of more than 70% millions compared with average. 6 000 3 000 ($

4 000 2 000 Another way to manage water demand using Water use GVIAP production 2 000 1 000 market-based instruments is to set efficient Water used in irri ross value of irrigated agricultural water prices. For example, using data from 0 0 G 1 600 households across ten OECD countries, 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 Grafton et al. (2011) find that households Source: Skinner (2012) facing volumetric water pricing consume around 20% less water than those facing Environmental water to be recovered in the Murray-Darling Basin tariffs which are not directly linked to the Total environmental water 4 500 4039 GL volumes of water used. Total water return 4 000 Water buybacks Savings and infrastructure The affordability of water prices must be ) 3 500 GL ( given due attention, though. For example, in 3 000 Water buybacks 2221.8 GL the 1990s, inhabitants of the Metropolitan 2 500 Area of Barcelona refused to pay higher water Savings and infrastructure ater volume 2 000 1817.2 GL bills to finance the wastewater treatment W plants required by the EU. 1 500 1 000

500

Water quantity 0 2005 2010 2015 2020 2025 Market-based instruments can be used to Source: Skinner (2012) secure water for environmental flows in the most efficient manner. Where water markets Water quality improvement are operating, buy-backs of water user’s rights through markets can be used to secure Emissions taxes to manage water quality have environmental flows efficiently by purchasing been used in a number of countries for the lowest value uses of water first. reducing water pollution and for raising revenues. In France, for example, emission South and Australia have taken steps taxes now make up around 12.5% of to better manage environmental flows of household water bills (Bommelaer et al., 2011). water. has taken a direct regulatory approach, where a quantity of The use of emissions trading schemes is water is set aside for the environment gaining ground, although they are less (ecological reserve) before any other water common than emissions taxes. For example, use permits are allocated. Australia opted for with its Lake Taupo nitrogen trading scheme, acquiring water for the environment through New Zealand introduced the first non-point buy-backs of water users’ rights in the water source to non-point source (NPS) cap and market in the Murray-Darling Basin. trade scheme worldwide (Shortle, 2012).

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5Policy coherence for water security

Improving water security requires a coherent Energy policy reform can also bring water approach between water policies and other security benefits. For example, energy policy (sectoral, environmental) policies (OECD, that promotes the expansion of hydropower 2012a). In particular, the nexus between can increase freshwater supply and improve water, energy, food, climate and flood/drought risk management through the presents significant challenges for water construction of dams and storage schemes. security, and has been attracting increasing But the benefits of hydropower may come at policy attention in recent years. Increasing social (e.g. displacement of people) and the coherence of policies (policy objectives environmental (e.g. changes in flow and and policy instruments) across these areas is continuity of rivers) costs. This highlights the essential if governments wish to meet the importance of properly assessing risk-risk range of policy goals while not undermining trade-offs. water security objectives. Did you know? Energy policies to enhance can More coherent policy approaches are slowly have negative spill-over effects on water. For Agricultural and beginning to take shape in a growing example, subsidies to farmers for water policy reform number of OECD countries. For example, the pumping of groundwater can adversely has helped agricultural policy reform over the past 20 affect the of groundwater Australia reduce its years has, in part, removed policy resources. In the same way, agricultural irrigation water inconsistencies and helped address water policies to enhance can application rate by risks from agricultural activities. But much increase water risks. For example, the nearly 60% since more needs to be done, including exploiting increasing support to agricultural feedstocks 1990. potential win-wins (such as taking steps to to produce biofuels and bioenergy may cause increase both water and energy efficiency). water quality impacts from the use of agrochemicals (OECD, 2012b). A number of OECD countries are lowering agricultural support and shifting from direct Climate policy appears to have significant production and farm input support to spillover to other policy areas that affect water payments that are decoupled or even support security. This includes sectors as diverse as environmental objectives and this has helped energy, transport, agriculture, forestry, fisheries improve water resource use efficiency and and tourism. Information on such indirect lower water pollution from agriculture. water security impacts of climate policy would

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Policy coherence for water security

certainly improve economic efficiency (e.g. protection and water policies can avoiding farmers to be paid for the reduction also help each other. For instance, floodplain in nitrogen emissions at the same time as restoration may often be justified they receive income to convert farmland to economically in the long run if the forest land, which also contributes to reduce recreational (improved river accessibility) nitrogen leaching into water) and social and biodiversity co-benefits are accounted welfare (e.g. air quality co-benefits of for in addition to the avoided flood damage mitigating carbon emissions improve human (Brouwer and Van Ek, 2004). health and reduce eutrophying depositions on surface water). As a flexible, incentive-based and site- specific instrument, payments for ecosystem Understanding the effects of climate services can improve the cost effectiveness in mitigation and adaptation policies on water managing some water risks, compared to security, and the interactions between indirect payments or other regulatory them, is essential. For example, where the approaches. Such payments need to be water security objective is to manage the carefully designed and implemented and Did you know? risk of nitrate pollution of water, an should only compensate holders of land-use adaptation policy to expand natural rights (e.g. farmers or foresters) for the Water demand for floodplains through supporting the creation additional costs of ecosystem service energy production of wetlands (in which bacteria convert provision, over and above legal requirements. is projected to nitrate to nitrogen released to the They should not take the form of uniform double by 2035, ) may prove more cost-effective payments on a per hectare basis, as is often with the largest than a mitigation policy to reduce nitrous the case, but take account of differences in drivers being oxide from fertilisation by encouraging ecosystem benefits and opportunity costs for expected increases organic farming. holders of land-use rights. in coal-fired electricity and the Climate mitigation and water policies can ramping up of help each other. In New Zealand, for “Understanding the effects of climate biofuel production example, in places where it has induced mitigation and adaptation policies on (IEA, 2012). farmland conversion into forests, carbon emission trading has reduced nitrogen water security, and the interactions releases into water (Yeo et al., 2012). between them, is essential.”

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References

Ben Maïd, A. (2012), “Water Security in France: Managing OECD (2012a), Meeting the Water Reform Challenge, Risks and Trade-offs”, case study prepared for the OECD OECD Studies on Water, OECD Publishing, Expert Workshop on “Water Security: Managing Risks http://dx.doi.org/10.1787/9789264170001-en. andTrade-offs in Selected River Basins” (Paris, 1 June), www.oecd.org/water. OECD (2012b), Water Quality and Agriculture, Meeting the Policy Challenge, OECD Publishing, Bommelaer, O. et al. (2011), “Financing Water Resources http://dx.doi.org/10.1787/9789264168060-en. Management in France (October 2011 Update)”, Department of the Commissioner-General for Sustainable Prosser, I. (2012), “Governance to Address Risks of Water Development, Ministry of Ecology, Sustainable Shortage, Excess and Pollution”, Paper presented at the Development and Energy, Paris. OECD Expert Workshop on “Water Security: Managing Risks and Trade-offs in Selected River Basins” (Paris, Brouwer, R. and R. Van Ek (2004), “Integrated Ecological, 1 June), CSIRO Water for a Healthy Country Flagship, Economic and Social Impact Assessment of Alternative Australia. Flood Protection Measures in the Netherlands”, Ecological Economics, Vol. 50 (1-2). Shah, T. (2007), “The Groundwater Economy of South Asia: An Assessment of Size, Significance and Socioecological Grafton, R.Q. (2011), “Economic Instruments for Water Impacts”, in The Agricultural Groundwater Revolution: Management”, Background Paper presented to the OECD Opportunities and Threats to Development, M. Giordano and Working Party on Biodiversity, Water and Ecosystems, K.G. Villholth, CAB International. Paris, 27-28 October, ENV/EPOC/ WPBWE(2011)13. Shortle, J.S. (2012), “Water Quality Trading in Grafton, R.Q. and M.B.Ward (2010), “Dynamically Efficient Agriculture,”COM/TAD/CA/ENV/EPOC(2010)19/FINAL, Urban Water Policy”, CWEEP Research Paper, No. 10-13, OECD, Paris, France, Australia National University. www.oecd.org/dataoecd/5/1/49849817.pdf.

Grey, D. and D. Garrick (2012), “Water Security as a 21st Skinner, D. (2012), “Australia: The Murray-Darling Basin”, Century Challenge”, Brief No. 1, International Conference case study prepared for the OECD Expert Workshop on on Water Security, Risk and Society, University of Oxford, “Water Security: Managing Risks and Trade-offs in 16-18 April, www.eci.ox.ac.uk/watersecurity/downloads/ Selected River Basins” (Paris, 1 June), www.oecd.org/water. briefs/1-grey-garrick-2012.pdf. Yeo, B.L., S. Anastasiadis, S. Kerr and O. Browne (2012), International Energy Agency (IEA) (2012), World Energy “Synergies Between Nutrient Trading Scheme and the Outlook 2012, IEA, Paris. New Zealand Greenhouse Gas (GHG) Emissions Trading Scheme (ETS) in the Lake Rotorua Catchment”, Motu OECD (2013), Water and Climate Change Adaptation: Economic and Public Policy Research,Wellington, New Policies to Navigate Uncharted Waters, OECD Studies on Zealand. Water, OECD Publishing, http://dx.doi.org/10.1787/ 9789264200449-en.

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“We urgently need a fundamental shift in approach to tackle water security challenges: we must first agree on the risks.” www.oecd.org/env/resources/ watersecurity.htm

CONTACT: Gerard Bonnis ([email protected]) Water Security brochure [3]_Layout 1 27/08/2013 17:05 Page 14

For more information: www.oecd.org/water