This publication examines the critical issues surrounding water security (water shortage,
water excess, inadequate water quality, the resilience of freshwater systems), providing
a rationale for a risk-based approach and the management of trade-offs between water
and other (sectoral and environmental) policies.
The report sets out a three-step process to “know”, “target” and “manage” water risks:
(1) appraising the risks, (2) judging the tolerability and acceptability of risks
and weighing risk-risk trade-offs, and (3) calibrating appropriate responses.
The publication provides policy analysis and guidance on the use of market-based instruments
and the complex links between water security and other policy objectives, such as
food security, energy security, climate mitigation and biodiversity protection.