Access to clean and affordable water is a basic human right and must be protected
Washington, D.C. — Today, Representative Ro Khanna (D-CA) and Senator Elizabeth Warren (D-MA) led a bicameral group of colleagues in introducing the Future of Water Act to amend the Commodity Exchange Act to prohibit futures trading of water or water rights and protect our country’s water. Water is a basic human right that must be managed and protected as a public trust resource.
As climate change has increased the severity and frequency of drought in our country, large corporations should not be profiting off of water or water rights. Water should be affordable, easily accessible, and guarded from markets prone to manipulation and speculation that could cause real-world price increases. The announcement of the water futures trading received condemnation from the global water community, including the United Nations Special Rapporteur on the Human Right to Water who stated: “Water is already under extreme threat from a growing population, increasing demands and grave pollution from agriculture and mining industry in the context of worsening impact of climate change. . . I am very concerned that water is now being treated as gold, oil and other commodities that are traded on Wall Street futures markets.”
