By Rosie Frost
last updated: 25/09/2020 - 18:30
Water shortages could affect around five billion people worldwide by 2050, according to the UN.
The threat of a future where water isn’t readily available is particularly acute in California, US where record temperatures and raging wildfires have wreaked havoc this year.
... A futures contract is an agreement to buy or sell an asset, like water, at a specific time in the future at an agreed upon price. Futures are have historically been traded for things like oil, precious metals or food.
CME is the world’s largest futures exchange and will launch the ability to trade in contracts for California’s water market later this year. Each contract would represent 10 acre feet of water, or the amount of water it takes to cover an acre over land in one foot of water.
For those of us using the metric system, that is the amount it would take to cover 4047 square metres in about 30cm of water. ...
last updated: 25/09/2020 - 18:30
Water shortages could affect around five billion people worldwide by 2050, according to the UN.
The threat of a future where water isn’t readily available is particularly acute in California, US where record temperatures and raging wildfires have wreaked havoc this year.
... A futures contract is an agreement to buy or sell an asset, like water, at a specific time in the future at an agreed upon price. Futures are have historically been traded for things like oil, precious metals or food.
CME is the world’s largest futures exchange and will launch the ability to trade in contracts for California’s water market later this year. Each contract would represent 10 acre feet of water, or the amount of water it takes to cover an acre over land in one foot of water.
For those of us using the metric system, that is the amount it would take to cover 4047 square metres in about 30cm of water. ...
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