Overview
Water stress, characterized by the scarcity or unreliability of freshwater resources, has profound economic impacts that span various sectors of the global economy. Water stress exacerbates competition for water resources among agriculture, industry, and domestic use, leading to increased costs and potential conflicts over resource allocation. Industries reliant on water for production processes, such as textiles, pharmaceuticals, and agriculture-based industries, face operational risks, increased expenses for water procurement and treatment, and challenges in sustainability efforts, potentially hindering economic growth and development.
Moreover, the economic ramifications of water stress extend beyond direct impacts on agriculture and industry, influencing energy production, public health, and infrastructure. Hydropower plants and cooling systems in thermal power plants, which require substantial amounts of water, may experience reduced efficiency or operational constraints due to water shortages, leading to increased energy costs and potential disruptions in energy supply.
SpatiaFi water data is focused on assessing both water stress and water abundance in order to help assess water risks to important assets, forecast economic impacts from the lack of water availability, better plan investments for water intensive industries, and help reduce supply chain disruptions by forecasting the impacts of water stress on water intensive industries