Risks to Shared Water Resources

 In 2004 the Murray Darling Basin (MDB) Ministerial Council identified six risks to the shared water resources of the Murray-Darling Basin (the Basin):·

These risks vary in size, impact and consequence across the Basin, and have the potential to significantly affect streamflow.  They pose a risk to both environmental and economic sustainability of the river system and its water users (more detail).

RISKS STRATEGY


The Murray-Darling Basin Risks Strategy was developed andhas been agreed by the six partner governments of the Murray-Darling Basin and approved by Ministerial Council in December 2007.  It provides an objective operating framework and a broad process to ensure a consistent and flexible approach to the management of risks now and into the future. It builds on existing water management arrangements and is consistent with the National Water Initiative (NWI). 

The objective of the risks strategy is: 

To protect both the integrity of the water access entitlements system and the achievement of environmental objectives as they relate to the shared water resources of the Murray-Darling Basin. 

Jurisdictions are accountable for management of the risks and have a range of responses already in place. 

They have agreed to implement the Risks Strategy by:

  1. Submitting independently audited annual reports of priorities and responses, using a consistent risk assessment framework.
  2. Assessing the effectiveness of current jurisdictional policy responses and actions.
  3. Improving knowledge of the current risks, both individually and cumulatively, and their potential impacts.
  4. Researching innovative approaches to the management of the risks. 

Reports are submitted to the Independent Audit Group in October each year.  The Risk Assessment Framework used in the reports will be continuously refined and improved.  This framework will assist in targeting the other activities of the program and will be refined by the outcomes of investigations (including those external to the Risks Program eg. Sustainable Rivers Audit, CSIRO Sustainable Yields project).  These activities will be coordinated with existing and proposed initiatives across the Basin. 

While the risks strategy has been developed around the six original risk factors, the principles and framework set out in the strategy are relevant to, and will be used in responding to, any future risk factors that may be identified.