The Hill Times - Canada at risk of both freshwater and brain drain as thirst for tech grows: AquaAction president
An American threat assessment identified global water security and climate-related disasters like drought as increasing risks to national security interests. Canada needs to catch up, according to AquaAction's Soula Chronopoulos. She warns that Canada is "asleep at the wheel" in protecting its freshwater, risking future crises without greater focus on water tech and matching U.S. policies and regulations.
A 2023 report by the Global Commission on the Economics of Water predicted that global freshwater demand would exceed supply by 40 percent by 2030. Another report by Bank of America Global Research indicated that the worldwide freshwater supply could run dry by 2040 at the current consumption rate. Chronopoulos emphasizes that Canada needs a whole-of-government approach to recognize water security as an environmental, economic, and national security issue.
Chronopoulos testified before the House Environment and Sustainable Development Committee, calling for Canada to prioritize the water-tech sector in its freshwater protection strategy. However, with insufficient federal funding, Canadian water innovators are being lured abroad by more enticing opportunities. The dismantling of Sustainable Development Technology Canada's $1-billion green fund has further compounded this issue, necessitating targeted, performance-based grant programs to support water tech in Canada.
The federal government is urged to expand measures like the Green Municipal Fund and Clean Manufacturing Tax Credit to include water tech projects. As the U.S. and other countries aggressively court Canadian entrepreneurs, Canada must lead in water management, regulation, and protection. The outreach by foreign interests has increased following the U.S. Office of the Director of National Intelligence's 2024 Annual Threat Assessment, recognizing water scarcity as a national security threat.
Chronopoulos highlighted a $1-billion deal where Chicago will sell Lake Michigan water to Joliet, Illinois, as a potential warning sign of future conflicts over shared water resources. Despite significant federal investments in a net-zero economy, Canada is neglecting to prepare for a low-water economy. The forthcoming House Environment Committee report on freshwater resources will be crucial in shaping a comprehensive strategy to address water scarcity and its impacts.
As Canada navigates the complexities of freshwater management in changing climatic conditions, ongoing initiatives like the Canada1Water project (C1W) provide crucial research and data for informed resource management strategies. This project aims to enhance collaboration and innovation in water tech, ensuring sustainable water security for future generations.