(Elsevier, 2021) Martínez Aldaya, Maite; Sesma Martín, Diego; Rubio Varas, María del Mar; Institute on Innovation and Sustainable Development in Food Chain - ISFOOD; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
Water policy requires well established metrics for success. Precise metrics allow for quantifying progress and adjusting processes to produce the desired outcomes. We analyze the different schools of thought, nomenclatures and indicators developed for tracking water for human activities. After comparing a variety of terms related to water accounting used to serve the different purposes (environmental vs. ecological economics), we found that the different approaches to water tracking utilize identical terms to refer to distinctive concepts. The characterization of widely used terms such as 'water use' varies across different branches of literature. Different approaches to water measurement and its efficiency have an impact on water allocation. Our paper points out that the current definitions and methods for tracking water for human activities may offer contradictory advice over whether progress is being made towards desirable objectives, which may differ across stakeholders. This review aims at helping the transfer of academic results to empirical decision-making by discerning the differences among the variety of indicators available in the literature and their empirical implications. The ambiguity in the water terminology should be clarified before policy decisions can be useful in practice for guiding actions.
