The State of Global Water Resources 2023 report by the World Meteorological Organization (WMO) offers a crucial overview of the state of water resources worldwide, highlighting critical hydrological trends and the impacts of climate change on global water cycles.
“The State of Global Water Resources 2023 report is a stark reminder that water security is no longer just an environmental issue—it's a critical global risk. As climate change accelerates, declining water availability, extreme hydrological events, and glacier melt are putting immense pressure on economies, ecosystems, and communities. Urgent action is needed to safeguard water resources and ensure resilience in the face of these growing challenges.”, Jose Hopkins, CEO & Founder Simplify Climate.

Water security risk is considered a potential risk under the Task Force on Climate-related Financial Disclosures (TCFD) framework, UK Climate-related Financial Disclosures (CFD), framework, and IFRS - IFRS S2 Climate-related Disclosures issued by the International Sustainability Standards Board (ISSB) particularly as it relates to climate-related physical and transition risks. TCFD, CFD and IFRS-S2 encourages companies to assess and disclose how climate-related risks, including water security risks, may impact their financial performance.
Water security is often influenced by climate change, which can alter the availability, quality, and distribution of water resources. These changes can pose both physical risks and transition risks to businesses and investors.
Here are the key takeaways from the report:
2023 = hottest year on record: The year 2023 was marked by unprecedented heat, with global temperatures soaring 1.45°C above pre-industrial levels, making it the hottest year in recorded history. This extreme heat was fuelled by the transition from La Niña to El Niño, combined with a positive phase of the Indian Ocean Dipole. As a result, the world witnessed diverse and often extreme hydrological events, including floods, droughts, and heatwaves.
Declining river discharge: The report reveals that global river discharge in 2023 was predominantly below normal levels, continuing a trend from previous years. Over 50% of global catchment areas experienced river discharge deviations from the norm, with many regions reporting below-normal water levels. Notably, large parts of North, Central, and South America, including the Mississippi and Amazon River basins, faced significant drought and reduced river discharge. In contrast, certain areas, like the east coast of Africa and parts of Northern Europe, saw above-normal discharge due to heavier-than-expected rainfall.
Reservoirs reflect river discharge trends: Reservoir inflows in 2023 closely mirrored global river discharge patterns, with many regions, particularly in North and South America, experiencing below-normal inflows. In some areas, like the Amazon basin, reservoir storage levels remained high despite low inflows, reflecting the impact of water management strategies.
Groundwater and lakes show regional variability: Groundwater levels in 2023 showed significant regional variability. While many regions, such as South Africa and parts of India, recorded above-normal groundwater levels due to recent rainfall, regions like North America and Europe continued to suffer from groundwater depletion due to prolonged drought and over-extraction. Similarly, lakes like Lake Coari in the Amazon faced record-low water levels, while Lake Turkana in Africa experienced above-normal volumes.
Soil moisture and evapotranspiration patterns: Soil moisture levels in 2023 were mostly below normal across large territories, particularly in North America, South America, and North Africa. However, regions like Alaska, parts of Russia, and parts of India experienced much-above-normal soil moisture levels. Similarly, evapotranspiration rates, which reflect the combined effects of water evaporation and plant transpiration, were below normal in many drought-affected regions such as Brazil, Argentina, and Mexico.
Glaciers in crisis Glacier mass loss continued to be a significant issue in 2023, with over 600 gigatons of ice melting, marking one of the largest glacier losses in the past five decades. This trend was especially severe in regions like Europe, Scandinavia, and North America, where glaciers have already surpassed their “peak water” thresholds, leading to declining runoff and increasing water scarcity risks.
High impact hydrological events: The year 2023 saw several extreme hydrological events, with Africa bearing the brunt in terms of human impact. Flooding in Libya, exacerbated by the collapse of two dams, claimed over 11,000 lives. Other regions, including the Horn of Africa, Central America, and parts of Asia, were also heavily impacted by both flooding and droughts.
Conclusion - As climate change accelerates we are going to experience declining water availability
The State of Global Water Resources 2023 report underscores the urgency of addressing climate change and improving water resource management globally. With declining river discharge, diminishing groundwater, and increasing glacier melt, it’s clear that the global water cycle is under severe stress. Improved monitoring, data sharing, and climate adaptation strategies are essential to mitigate the growing challenges related to water scarcity and climate-induced hydrological extremes.
We at Simplify Climate are transforming and simplifying the integration of climate change. It is crucial for businesses to increase their understanding and start the integration of physical and transition risks related to climate change as this is crucial for long term strategic success.
Visit our website at www.simplifyclimate.co.uk, to schedule a discussion with our consultants.
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