March 26, 2021–Climate change and the complexities of valuing water (Sydney.edu)

[Interviewer]: Your book on Environmental Water Markets and Regulation looked at the Murray-Darling Basin as well as water management in parts of Canada and the United States. How does Australia fare in its legal framework for valuing water? [Dr. Kate Owens]: Water has a range of environmental, social, cultural and economic benefits that often compete with each: other. In Australia, we’ve attempted to resolve these competing uses and recognise the value of water through a combination of planning, regulation and market mechanisms that move water to ‘higher value’ productive uses, often at the expense of environmental, cultural and community needs. A more sustainable approach is needed that sets sustainable levels of use and recognises the full spectrum of water values and demands…To view the full article visit Sydney.edu.