Global Commission on the Economics of Water

The Global Commission on the Economics of Water (GCEW) is an independent international initiative established in 2022 to transform how water is understood, valued and governed for the common good. Convened by the Government of the Netherlands with a two-year mandate, it has brought together policymakers, economists, scientists, community leaders and practitioners from across regions and disciplines, placing equity, justice and democracy at the centre of a new economics of water.

The Commission’s work culminated in the publication of its report The Economics of Water: Valuing the Hydrological Cycle as a Global Common Good (October 2024). Building on the Stern Review on climate change and the Dasgupta Review on biodiversity, the report sets out transformations across food, energy, cities, finance and other sectors. Its central proposition is that the hydrological cycle must be recognised and governed as a global common good, connecting water security with climate stability, biodiversity, economic resilience and social equity.

With that initial phase complete, the Commission entered an active period of dissemination, coalition-building and action. Since February 2025, the International Water Management Institute (IWMI) in Sri Lanka has hosted its Secretariat, supporting coordination, communications and outreach while the Commission retains its independence. Through policy work and partnerships across different sectors, it continues to deepen debate, strengthen the conditions for implementation and build coalitions around the report’s recommendations.