Water Demand-Supply Gap Rising At Alarming Rate, Report Shows

Global water demand will grow at an accelerated rate - from 4,500 billion meters cubed to 6,900 billion cubed - by 2030 increasing the water gap.

If water consumption continues without reform or regulation over the next 20 years, 40 percent of global demand will not be met, according to a McKinsey & Co. report released last week. More than one billion people already don't have access to clean water.

The report warns that governments must act now to avoid severe health and economic consequences.

"There is a looming water crisis where scarcity will increase - basically the demand is outstripping supply," said Lars Thunell, CEO of the International Finance Corporation, which, along with other organizations affiliated with the 2030 Water Resources Group, helped author the report.

Formed in 2008, the 2030 Water Resources Group is comprised of the IFC and an extended business consortium, which includes Coca-Cola Co. and the Switzerland-based Nestle SA - all of which endorsed and signed the report. Representatives from the 2030 group held a conference last week announcing the report.