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☔️ Water series: Future extreme dynamics of water use: Difference between revisions
☔️ Water series: Future extreme dynamics of water use (view source)
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===Buying water rights to maintain ecosystems=== | ===Buying water rights to maintain ecosystems=== | ||
For cattle farmers, this is not a transition, just a violent crash happening while almond orchards invades Australia (7th global producer in 2017 (FAOSTAT)) following the path of the Central Valley in California (1st global producer). Here too, the Nasdaq, California’s stock market, opened up to a water market that relies on an algorithm developed to predict water price. Its designer is Clay Landry, who participated to the launch of carbon trading markets a few years before. He is convinced that this type of mechanisms would have a positive effect on water stress worldwide, and he is supported by environmentalists and NGOs. They are interested to buy water rights as a way to “save” water for ecosystems, so that this resource stays away from humans activities. This kind of transactions is said to represent a quarter of the market’s exchanges in California. This seems like a hopeless action, but environmentalists also managed to pass the | For cattle farmers, this is not a transition, just a violent crash happening while almond orchards invades Australia (7th global producer in 2017 (FAOSTAT)) following the path of the Central Valley in California (1st global producer). Here too, the Nasdaq, California’s stock market, opened up to a water market that relies on an algorithm developed to predict water price. Its designer is Clay Landry, who participated to the launch of carbon trading markets a few years before. He is convinced that this type of mechanisms would have a positive effect on water stress worldwide, and he is supported by environmentalists and NGOs. They are interested to buy water rights as a way to “save” water for ecosystems, so that this resource stays away from humans activities. This kind of transactions is said to represent a quarter of the market’s exchanges in California. This seems like a hopeless action, but environmentalists also managed to pass the Sustainable Groundwater Management Act (SGMA) in 2014, that regulates groundwater use, which was not part of water trading. Thus, some localised markets are created to allow neighbours farmers to trade the groundwater that the law allocated to them. Of course, non-farmers with water rights from their lands (called “riparian” water rights) are gradually joining those market to speculate.<ref name="lordsofwater" /> | ||
Even though the market increases competition between different farming activities, they might as well end up in the same side in the long run, when cities would eventually have to buy more water in time of droughts. Megalopoles’ purchasing power will certainly be higher that of the agriculture sector, and same goes for the industrial sector.<ref name="lordsofwater" /> | Even though the market increases competition between different farming activities, they might as well end up in the same side in the long run, when cities would eventually have to buy more water in time of droughts. Megalopoles’ purchasing power will certainly be higher that of the agriculture sector, and same goes for the industrial sector.<ref name="lordsofwater" /> | ||