Water scarcity has grown to be an alarming issue in current global affairs.
In 2011, 41 states around the globe have experienced some kind of water stress whilst 10 of those countries were close to depleting their supply of renewable fresh water.
Lack of access to safe, sufficient and affordable water sources has a detrimental effect on the health, dignity and prosperity of billions of people.
Seeing the significance of the aforementioned, the United Nations recognised water as a human right and thus a common public and environmental good, not longer than a decade ago.
It is often opposed by those who view water as a commodity which has to be priced to be used in an an efficient and sustainable way.
Unfortunately, water services are no exception.
In the latest decades, water privatisation has become a new opportunity for lucrative investment.
Willem Buiter, Citigroup’s top economist, emphasised ‘the water market will soon eclipse oil’.
The ‘new water barons’ — the Wall Street mega-banks and billionaire tycoons— are buying up water all over the world at an unprecedented pace.
Anti-water privatisation campaigns and protests have occurred all around the world.