Escarus Highlights the Key Importance of Water in Combating the Climate Crisis
Climate change is acute like floods, floods and typhoons; As well as the increase in temperature averages, chronic changes such as the rise in sea levels become more evident, showing their effect more clearly with each passing day. Considering these changes and their consequences, water stands out as one of the few key elements at the heart of the climate crisis. Escarus, which carries out projects on the effects of climate change and different climate scenarios, draws attention to the importance of water within the scope of the 23-27 August World Water Week, which is organized every year by SIWI and this year in the digital environment with the theme of "Building Resilience Faster". Escarus, which has carried out projects with SIWI in the past years, considers that the dominant theme of this year's conference was the climate crisis, as an indicator of the strengthening of the collective attitude in the fight against climate change.
Escarus General Manager Dr. Kubilay Kavak said, “There are many different scenarios evaluated for limiting the global temperature increase until 2100. Even when the scenario of 'keeping the increase well below 20C compared to the pre-industrial revolution period', which is one of the most optimistic scenarios, is realized, climate change will severely affect life on the planet with its many effects. Among these effects are water scarcity and access to clean water.
“Approximately 785 million people in the world have difficulties in accessing clean water”
Reminding that today, one out of every 9 people (approximately 785 million people) has difficulties in accessing clean and safe water, 263 million people have to travel more than 30 minutes each time to access clean water, and 22 percent of health facilities in underdeveloped countries do not have clean water. Dr. Kavak emphasized the importance of the social and economic dimension of the water crisis. Dr. Kavak stated that the situation is critical in the multidimensional and international arena, as the effective management of water resources and access to clean water and hygiene are at the heart of the Paris Agreement, the United Nations 2030 Sustainable Development Goals and the Sendai Framework for Disaster Risk Reduction. Kavak said, “The relationship between the water crisis and development is very important. Sustainable development, especially in least developed country (LDC) countries, is closely related to the water crisis.
“It is necessary to prepare for adverse scenarios”
Kavak continued his statements within the scope of World Water Week by referring to the COVID-19 epidemic that we are going through. Dr. Kavak said that the global epidemic, which once again reveals the vital importance of hygiene and access to clean water, is a lesson in evaluating what is done right and wrong in water management all over the world. Pointing out that the situation may become much worse than today, if more difficult epidemics occur in the coming years, Dr. Kavak emphasized that preparations should be made against such negative scenarios.
“The return on investments for the water crisis is quite effective”
Dr. While talking about the solution proposals for the water problem, Kavak underlined the role of financing and continued as follows: “Considering the seriousness of the water problem and the increasing trend of water-related problems, it is understood that it is essential to realize the necessary investments with both regional and international financing models. Supporting innovative sustainable finance tools such as green bonds and using these tools in projects related to the water crisis can be an important option to combat the problem. The return on investment for the water crisis is also very effective. Research indicates that for every $1 spent on safe water and hygiene, there is a recovery of $5 to $28 as a result of increased economic activity and reduced healthcare costs.”
“Green finance ecosystem contributes to the solution of water and climate problems”
Dr. Escarus, the General Manager of Escarus, which also provides consultancy and second-party opinion services on sustainable finance instruments, including green bonds. Poplar marked the first river basin protection green bond of US$2020 million issued by Central Arkansas Water, which manages Arkansas water systems, and acquired by Morgan Stanley in November 31,8. Stating that investors' interest in similar environmental financing instruments has increased and that we may see similar issuances more frequently in the coming years, Dr. Kavak added that the green finance ecosystem will contribute greatly to solving climate and sustainability-related problems, including the water crisis.