With an El Niño looming, Australia has new laws to stop water market manipulation

Vicki Smith/Getty It might feel strange to talk about being able to trade water as a financial asset, in the same way as company shares or bonds. But water is big business. Australia leads the world on the size, extent and adoption of formal water markets, especially in our largest river system, the Murray-Darling Basin. The impacts of climate change are already being felt, and water security is one of the world’s biggest vulnerabilities. Australia is facing predictions of a strong El Niño…