Asia faces a triple threat from water risk and no one is taking any notice, Debra Tan, director & head, China Water Risk warns.
Despite it consistently being a top 5 risk in the WEF Forum Global Risks report, water risk remains a largely underestimated risk.
Speaking atStrategicRISK’s the sixth annual Risk Forum Hong Kong, Debra Tan, director & head, China Water Risk has warned business
Asia faces a triple threat from water risk, according to Tan. Firstly, there is not enough water to develop. Secondly, the climate change impact on rivers is not being properly considered and thirdly, there is an issue of clustered assets on vulnerable rivers.
“Asia’s economy runs on water. If you have no water, you need to change your economy. The future of Asia is at stake.” warned Tan.
Basin assessment must be a focus for risk management and adaptation going forward, said Tan.
Tan said this is not just an issue for governments or a single large country such as China.
In a study by China Water Risk, Tan said 34% of businesses were ’very concerned’ about competition for water resources.