Professor William Michael Hanemann is one the world’s preeminent scholars on water economics, climate change impacts, and the policy implications of both. He designed the water rates for Los Angeles California that have been used successfully for 25 years and has consulted state and federal water agencies. His lecture, “The Limits to (Conventional) Economics as a Guide to Managing Water,” part of the Lim Tiam Seng Lecture Series, was well attended by an alert and engaged audience.

The recent announcement that Singapore will build its sixth desalination plant is another reminder of how seriously the country treats water security. It is also a timely moment to confront a harder truth that often sits just beneath such announcements: the more resilient our water system becomes, the more it will cost to operate and sustain.

Water and local catchment areas in Singapore are vital for sustainable development, urban resilience, and climate change mitigation efforts.

Water demand is growing while supply uncertainties abound. Despite progress over the years, meeting our water needs remains a significant challenge.