S&P Global Market Intelligence outlook for 2024 projects heightened water stress and growing scrutiny for businesses
NEW YORK, Nov. 16, 2023 /PRNewswire/ -- Drought and flood events in recent years have highlighted the importance of water as a strategic global resource. Climate change will impact access to water and force many countries to modify how they manage resources, according to a new S&P Global Market Intelligence report released today. The newly published 2024 Sustainability Outlook: Water, global operational challenges is part of S&P Global Market Intelligence's Big Picture 2024 Outlook Report series.
In the new report, S&P Global Market Intelligence's geopolitical risk analysts found that water stress will continue to impact governments and businesses in the years ahead. The prevalence of severe difficulties in predicting weather patterns is likely to continue across the globe affecting populations, countries' economic performances and key industries that rely on water as an essential resource. The El Niño climate pattern is forecast to significantly impact the world in 2024. Water-related stress, however, will be an issue for many years to come in many parts of the world, particularly pronounced in Mexico, southern Argentina, India, the MENA region, South Africa, Spain, Italy and Australia.
"Physical risks will play a key factor in business investment decisions, including the effects that water stress will have on manufacturing and on many countries' plans to diversify their economies," said Veronica Retamales Burford, Senior Research Analyst at S&P Global Market Intelligence. "As the world adapts, companies will need to prepare for heightened water use scrutiny, not just by regulators but also by local communities."
Key highlights from the report include:
To request a copy of the 2024 Sustainability Outlook: Water, global operational challenges, please contact [email protected].
S&P Global Market Intelligence's opinions, quotes, and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendation to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security.
About S&P Global Market Intelligence
S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.
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SOURCE S&P Global Market Intelligence
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