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More than one third of world’s largest aquifers are unsustainable
Thirteen of the world’s largest 31 aquifers are experiencing unsustainable levels of water extraction, with eight classified as “overstressed” and five as “extremely” or “highly” stressed, a study by the University of California, Irvine, and NASA. The term ‘stressed’ is used in the study to describe situations in which water use exceeds sustainable water availability over a ten-year period. The worst affected are the Ganges and Indus Basin in India, the Californian Central Valley Aquifer System, the North China Aquifer System, and the Tarim Basin in China. High population and irrigation levels are the main cause of water depletion. Although surface water is the principal freshwater supply used by humans globally, groundwater is currently the primary source of freshwater for around 2 billion people.
Private equity backers factoring in non-financial risks
Seven out of 10 institutional investors interviewed by financial services group PwC say that concerns about environmental, social and governance (ESG) risk would cause them to decline to take part in a private equity fundraising or turn down a co-investment. The poll of 60 “limited partners” – typically institutional investors funding private equity firms...