Post by account_disabled on Feb 20, 2024 0:33:09 GMT -5
Water, the basis of life on Earth, began trading on the raw materials futures market this Monday due to the scarcity of this good, whose price will now fluctuate like oil, gold or wheat, reported today CME Group. The Nasdaq Veles California Water Index, with the ticker NQH2O, is based on a California water futures price indicator that was trading today at about $486.53 per acre-foot, a measure of volume commonly used in United States equivalent to 1,233 cubic meters. The price of water in California has doubled in the last year according to this indicator and with the greater scarcity of this good, along with the air that is key to life, the arrival of raw materials on the market will allow, according to experts, better management of future risk. linked to this property. Farmers, funds or municipalities will be able to protect themselves or speculate against changes in the price of water. According to CME Group, the new contracts will allow better management of the risk associated with water scarcity and achieve a better correlation between supply and demand in the markets. Although the index is based on prices in the main river basins of California, where water scarcity has increased, this value can be used as a reference for the rest of the world in water markets. These futures contracts do not require physical delivery of water and are purely financial, based on the weekly price averaged across California's five major basins through . The new index will allow us not to have to resort to an “eye” estimate of the future price of water, but rather to what the expectations of the main players in this market are.
China and the United States are the world's main consumers of water and according to the United Nations, 2 billion people live in countries with serious problems of access to water, while in the coming years two thirds of the planet could experience water scarcity and millions of people be displaced. The excessive exploitation of these resources by the primary sector, industry and human consumption, as well as climate change, have led to this resource becoming increasingly scarce. Via: ForbesThe High Level Panel for a Sustainable Ocean Economy (Ocean Panel) today Europe Cell Phone Number List presented a new ocean action agenda, along with bold commitments and new research. The 14 global leaders of the Ocean Panel committed to sustainably manage 100% of the ocean area under national jurisdiction by 2025, guided by Sustainable Ocean Plans. Countries will bring a holistic approach to ocean management that balances the protection, production and prosperity of nearly 30 million km2 of national waters, an area the size of Africa. The Ocean Panel also urged leaders of coastal and ocean states around the world to join the 100% target for all Exclusive Economic Zones (EEZs) to be sustainably managed by 2030. Leaders from Australia, Canada, Chile, Fiji, Ghana, Indonesia, Jamaica, Japan, Kenya, Mexico, Namibia, Portugal and the Ocean Panel Co-Chairs of Norway and Palau today launched Transformations for a Sustainable Ocean Economy: A Vision for the protection, production and prosperity .
These world leaders understand that the ocean is fundamental to life on Earth, the source of people's livelihoods and the economy, but they also recognize that the health of the ocean is at risk from pressures such as pollution, overfishing and climate change. . That's why two years ago, Ocean Panel members set out to develop a set of transformative recommendations to achieve a sustainable ocean economy that would benefit people around the world and effectively protect the ocean. The result is a new ocean action agenda that, if achieved, could help produce up to 6 times more food from the ocean, generate 40 times more renewable energy , lift millions of people out of poverty and contribute to a fifth of the reductions of GHG emissions needed to stay within 1.5°C. “For our country, a sustainable ocean economy is necessary to achieve a higher objective: the general well-being of the population,” said the President of Mexico, Andrés Manuel López Obrador. “Promoting this goal means, above all, prioritizing local communities, ensuring that the ocean continues to be a source of well-being for all. The ocean must be a fundamental part of Mexico's transformation, where protection, production and prosperity go hand in hand. Protecting the ocean and its sustainable use is not only a necessary condition to ensure the world's economic prosperity, but also a moral imperative to ensure that we leave no one behind and leave no one behind.