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1 Humphreys, E.; van der Kerk, A.; Fonseca, C. 2018. Public finance for water infrastructure development and its practical challenges for small towns. Water Policy, 20(S1):100-111. (Special issue: Water Services in Small Towns - Experiences from the Global South) [doi: https://doi.org/10.2166/wp.2018.007]

Water resources development ; Public finance ; Water supply ; Infrastructure ; Urban areas ; Towns ; Sustainable Development Goals ; State intervention ; Accountability ; Income ; Tariffs ; Taxes ; Loans ; Capital market ; Population density ; Equity

(Location: IWMI HQ Call no: e-copy only Record No: H048720)

https://vlibrary.iwmi.org/pdf/H048720.pdf

(0.15 MB)

The small and fluctuating population, the economic characteristics and administrative capacity of small towns not only pose infrastructural challenges for providing services, but also limit the possibilities for generating local revenues for financing water infrastructure development and maintenance. This limited ability to generate local resources for water infrastructure is exacerbated by the way in which scarce public funds are allocated. A first concern is linked to an urban bias that characterizes allocation of funds by central governments. A second concerns the prioritization of other sectors by allocation decisions of local governments. These local governments often prioritize other sectors such as education, health and agriculture for the use of scarce local public resources. What this discussion highlights is that existing models used for financing water infrastructure development do not seem very applicable to the realities of small towns. Additional research and models are necessary to allow for solutions that are better tailored to these realities.

2 United Nations. Inter-agency Task Force on Financing for Development. 2019. Financing for sustainable development report 2019. Report of the Inter-agency Task Force on Financing for Development. New York, NY, USA: United Nations. 208p.

Sustainable Development Goals ; Financing ; Frameworks ; Economic growth ; Macroeconomics ; International trade ; Trade agreements ; International cooperation ; South-South cooperation ; Climate change ; Strategies ; Investment ; Remittances ; Fiscal policies ; Taxes ; Capital market ; Development banks ; Private enterprises ; Debt ; Lending ; Regulations ; Corporate culture ; Technological changes ; Innovation ; Data ; Monitoring ; Capacity building ; Labour market ; Employment ; Disaster risk reduction

(Location: IWMI HQ Call no: e-copy only Record No: H049177)

https://developmentfinance.un.org/sites/developmentfinance.un.org/files/FSDR2019.pdf
https://vlibrary.iwmi.org/pdf/H049177.pdf

(7.26 MB) (7.26 MB)

3 Vaidya, R. A.; Molden, D. J.; Shrestha, A. B.; Wagle, N.; Tortajada, C. 2021. The role of hydropower in South Asia’s energy future. International Journal of Water Resources Development, 37(3):367-391. (Special issue: Hydropower-based Collaboration in South Asia: Socio-economic Development and the Electricity Trade) [doi: https://doi.org/10.1080/07900627.2021.1875809]

Hydropower ; Risk analysis ; Renewable energy ; Environmental sustainability ; Energy sources ; Policies ; Institutions ; Financing ; Social aspects ; Energy generation ; Capital market ; Electricity supplies ; Trade ; Benefits ; Forecasting ; Development projects / South Asia / Afghanistan / Bangladesh / Bhutan / India / Nepal / Pakistan / Hindu Kush Himalayan Region

(Location: IWMI HQ Call no: e-copy only Record No: H050248)

https://www.tandfonline.com/doi/pdf/10.1080/07900627.2021.1875809?needAccess=true
https://vlibrary.iwmi.org/pdf/H050248.pdf

(1.41 MB) (1.41 MB)

With rising energy demand in Asia, the high potential for hydropower development and the need for low-carbon energy development, hydropower would seem to have a significant role in South Asia’s energy future. However, the extent of hydropower development will depend on several risk factors, including the cost of alternative energy sources, the environmental sustainability of hydropower and social issues of equitable development. Using a risk-analysis framework, it is concluded that the future of hydropower will depend on how well policies and institutions manage the risks, facilitate efficient financial markets, and promote fair and friendly cross-border electricity trade.

4 Senni, C. C.; Goel, S.; von Jagow, A. 2024. Economic and financial consequences of water risks: the case of hydropower. Ecological Economics, 218:108048. (Online first) [doi: https://doi.org/10.1016/j.ecolecon.2023.108048]

Hydropower ; Power plants ; Water availability ; Risk ; Capital market ; Precipitation ; Drought ; Climate change

(Location: IWMI HQ Call no: e-copy only Record No: H052604)

https://www.sciencedirect.com/science/article/pii/S0921800923003117/pdfft?md5=c2a835d085d1db364dc8e1803d55a512&pid=1-s2.0-S0921800923003117-main.pdf
https://vlibrary.iwmi.org/pdf/H052604.pdf

(4.40 MB) (4.40 MB)

Reduced water availability poses risks for many economic activities. This paper studies how water risks affect hydroelectricity generation in Europe and the US and whether these risks are priced in by financial markets. To this end, we build a novel dataset for the period 2015–2022, which combines plant-specific hydroelectricity generation with geo-specific water physical risks and equity returns. We find that water risks, measured using model-based aggregate water risk metrics as well as precipitation anomalies, are significantly associated with reduced electricity generation, although the effect disap- pears after two months. We then link the power plants in our sample to the equity returns of their owners to investigate whether financial markets adequately price water risks. Using a portfolio sorts approach, we find weak evidence of a negative risk pre- mium. Given the real negative effect of water risks on generation, we conclude that the lack of a positive risk premium amounts to mispricing of water risks by financial markets.