将水相关风险纳入金融稳定框架

Embedding Water‑related RisksinFinancial Stability Frameworks OECD Studies on Water Embedding Water‑relatedRisks in Financial StabilityFrameworks This work was approved and declassified by the Environmental Policy Committee on 12/09/2025. This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty overany territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use ofsuch data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements inthe West Bank under the terms of international law. Note by the Republic of Türkiye The information in this document with reference to “Cyprus” relates to the southern part of the Island. There is no singleauthority representing both Turkish and Greek Cypriot people on the Island. Türkiye recognises the Turkish Republic ofNorthern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of the United Nations, Türkiyeshall preserve its position concerning the “Cyprus issue”. Note by all the European Union Member States of the OECD and the European UnionThe Republic of Cyprus is recognised by all members of the United Nations with the exception of Türkiye. Theinformation in this document relates to the area under the effective control of the Government of the Republic of Cyprus. ISBN 978-92-64-70746-7 (print)ISBN 978-92-64-98733-3 (PDF)ISBN 978-92-64-82275-7 (HTML) OECD Studies on WaterISSN 2224-5073 (print)ISSN 2224-5081 (online) Photo credits:Cover © JuShoot/Shutterstock.com. Corrigenda to OECD publications may be found at: https://www.oecd.org/en/publications/support/corrigenda.html.© OECD 2025 Attribution 4.0 International (CC BY 4.0) This work is made available under the Creative Commons Attribution 4.0 International licence. By using this work, you accept to be bound by the terms of this licence(https://creativecommons.org/licenses/by/4.0/).Attribution– you must cite the work.Translations– you must cite the original work, identify changes to the original and add the following text:In the event of any discrepancy between the original work and thetranslation, only the text of the original work should be considered valid.Adaptations– you must cite the original work and add the following text:This is an adaptation of an original work by the OECD. The opinions expressed and arguments employed inthis adaptation should not be reported as representing the official views of the OECD or of its Member countries.Third-party material– the licence does not apply to third-party material in the work. If using such material, you are responsible for obtaining permission from the third party and forany claims of infringement.You must not use the OECD logo, visual identity or cover image without express permission or suggest the OECD endorses your use of the work.Any dispute arising under this licence shall be settled by arbitration in accordance with the Permanent Court of Arbitration (PCA) Arbitration Rules 2012. The seat of arbitration shallbe Paris (France). The number of arbitrators shall be one. Preface Water isessentialtoecosystems, economies and communities, and the world has been reminded of itsimportance in recent years. But too much, or too little, water can be catastrophic.Floods in Pakistan andEurope have displaced millions and disrupted industries. Prolonged droughts across Africa, the Americasand Europe haveaffectedagricultural yields and energy generation. Pollution and scarcity have forcedcities from Chennai to Cape Town to ration supplies. These are not isolated events. They illustrate howwater-related risks, once considered local challenges, can have consequences that extend acrosseconomies and borders. Scientists and international experts are increasingly clear that these events reflect deeper systemicchanges. The Global Commission on the Economics ofWater has warned that the global hydrologicalcycle itself is becoming destabilised, with shifting rainfall patterns, intensifying extremes and degradedfreshwater ecosystems. An out-of-balance water cycle poses profound risks for societies, economies andthe financial system, with impacts that are both immediate and long-term. The financial communitynow recognises the seriousness of these risks.Having advanced in theirunderstanding of climate-related risks, central banksand financial supervisorsare now widening their focustoincludenature, acknowledgingthat ecosystem degradation can beafinancially materialrisk. Within thisbroader agenda, water deserves particular attention. It is a finite, non-substitutable resource. Itcan besimultaneously local in character and systemic in impact. It sustains every sector of the economy, andwhenfreshwater systemsfail, the consequences are immediateand significant. ThisOE