How does water accounting contribute to water management?
According to the National Water Initiative, water accounting will ensure that ‘adequate measurement, monitoring and reporting systems are in place in all jurisdictions, to support public and investor confidence in the amount of water being traded, extracted for consumptive use, and recovered and managed for environmental and other public benefit outcomes’ (NWI, 2004 para. 80). General purpose water accounts will inform users’ decisions about the allocation of resources and enhance public and investor confidence about how water resources have been sourced, managed, shared and utilized during the reporting period.
