The absence of accessible, high resolution water data is contributing to chronic under-investment in water security. Space4Climate member Watermarq is developing a novel approach to measuring and valuing water using the power of Earth Observation.
Despite some progress towards Sustainable Development Goal (SDG) 6 on clean water and sanitation, around 2.2billion people still lack safely managed drinking water and 3.5billion are without safely managed sanitation. Almost two thirds of the world’s population experience severe water scarcity for at least one month each year. And it is estimated that 31% of global GDP will be exposed to high water stress by 2050.
Securing climate-resilient water infrastructure is not just a global developmental, environmental and economic necessity but a business imperative. Companies are increasingly facing the impacts of water-related risks in their direct operations and supply chains, and are being mandated to report on these risks and impacts via new regulations such as the European Sustainability Reporting Standards (ESRS) E3.
Despite the urgency of the challenge, current frameworks for directing investment towards water infrastructure and conservation are insufficient. Watermarq sees this as the result of three major problems:
- A lack of globally accessible, high-resolution and decision-useful information on water, which means that decision-makers have a poor understanding of how basin resources are changing now and in the future.
- Access to data is uneven, which creates mistrust amongst key stakeholders and is a barrier to collective action.
- An absence of suitable water pricing frameworks that enable cost recovery for service providers at the same time as promoting equitability amongst users and conservation of resources.
Watermarq is aiming to tackle these challenges by leveraging Earth Observation (EO) insights, combined with contextual information and in-situ measurements, to generate decision-useful information on water stress for priority basins across the world.
Application
Watermarq generates data across three main vectors: water availability (supply and demand), water quality and water access (or WASH), providing an in-depth understanding of the present and future water-related risks facing water-stressed basins. Ultimately this information will feed into our novel water valuation framework, which will set basin-specific shadow water prices, based on the investment required to enable water security, and differentiated by users depending on their demand profiles and capacity to pay. These prices will provide a signal to public and private investors on how best to mobilise financial resources towards water security.
Based on these data capabilities, we are developing a range of products for users across the public, corporate and financial services sectors, covering disclosure and compliance, water risk assessments at the basin level and asset level, and collective action opportunities.
Watermarq believes that this work can tackle the major challenges facing the water sector, by providing a basis for valuing water that is both scalable (via EO and machine learning) and highly sensitive to local contexts (via the integration of contextual information and in-situ measurements). Not only does Watermarq provide the data, but we are committed to building capacity amongst end users to use this data to make better decisions for investing in water security.
Water data for mining
Watermarq is currently working with a client who is interested in understanding the water risks facing critical minerals mining. We have conducted a rapid assessment of water risk in 15 key countries, to highlight the high risk indicators facing key mining processing areas at the basin level, including interannual and seasonal variability, flood and drought risk, and river extent change.
UK Expertise
Our multidisciplinary team brings decades of academic and practitioner experience in water, finance and sustainable development. Our geospatial team brings strong technical expertise in the processing and analysis of remote sensing data, and we hope to build our technical capacity in data visualisation and machine learning over the next year. We are also growing our global network of basin specialists, who have expertise relating to our focus areas and are key to our ability to access contextual data and build strong local partnerships.
Diversity in leadership
We have a diverse leadership team: in the technology segment where we operate, this is the exception rather than the norm. We maintain strong connections to the University of Oxford, and our heritage is deeply rooted in the tradition of research integrity, transparency and collaborative partnership that typifies a world-leading university.
Insight
“The status quo around how water is valued needs to be broken. This will take collective action. Change requires a catalyst and that is our focus at Watermarq.”
– Dr Alex Money, Watermarq CEO and Founder
“Leveraging geospatial technology, we can redefine water’s value and support water security in a changing climate.”
– Adriana Calderón, Watermarq Geospatial Analyst
“Water is the most tangible manifestation of the climate crisis and underpins all sustainable development goals. Transformational approaches are needed and it is exciting to be part of a team that is committed to this aim.”
-Bethan Adams, Watermarq Innovation Lead
Find out more
- Follow Watermarq on LinkedIn https://www.linkedin.com/company/watermarq-ltd/
- Contact: Email info@wtrmrq.com or contact our Innovation Lead, Bethan Adams at bethan.adams@wtrmrq.com
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