Extensive research focusing and elaborating the significance and need of the freshwater bodies have expanded considerably during the past decade, although such critical information and knowledge gained has not been integrated so far, for the development of an efficient water management framework. However certain countries and regions such as North America, Chile, South Africa, the E.U. and Australia among others are an exception to this general rule, since these regions have witnessed the successful establishment of appropriate policies and approaches aimed at preventing the deterioration of freshwater and protecting the environment from further damage. In the face of adversities, and innumerable setbacks in the form of political and socio-economic measures, these policies are indicative of a struggle at the international level, to ensure better management of water together with the protection of the priceless ecosystems.
Many water experts in the U.S. and other countries have argued that water markets, tradable water rights, and related economic approaches are important policy tools for improving the long-term sustainability of water uses and ecosystems.
Water in existing times, has become an extremely rare and hence precious commodity, which supports the basic survival and sanitation needs of billions of people across the globe. The current issues related to environmental degradation which has taken a toll on global water bodies, has confronted the human population with strategic issues related essential for the sustenance of life on earth.