The Economic Perspective 5 June 2026
- Jun 5
- 3 min read
The Latest Trending Economic News Curated for You by Balmoral Group Australia
"To protect water is to protect the future of all life" - Jacques-Yves Cousteau
Hello Dear Readers,
Last week, our Senior Economist, Edwin Chihava, attended the Ozwater'26 conference in Brisbane. The conference theme, "Our Water. Our Tomorrow," highlighted the importance of individuals, communities, industries, and governments working together to protect, value, and invest in water for future generations.
This message strongly resonates with the work we do at BGA. We recognise that water security and effective wastewater management are fundamental to sustainable economic growth, resilient communities, and environmental stewardship. For more than a decade, we have supported governments, utilities, and councils with economic advice on water security, wastewater management, and infrastructure investment, helping clients make informed and sustainable decisions.
Top Three Takeaways from Ozwater
Climate resilience is no longer optional - it is the new baseline.
Traditional financial metrics alone are no longer sufficient. Long-term water security requires environmental, social, cultural, and economic outcomes to be considered alongside financial performance.
Infrastructure is nothing without trust. Building and maintaining social licence is just as important as building the infrastructure itself.
The challenge now is to turn these insights into action.
The articles in this week's edition continue the water theme, covering everything from AI and data centre water consumption to Queensland's ageing water infrastructure crisis and the newly released Great Barrier Reef ecosystem accounts.
Please feel free to forward this to anyone you think would be interested. If you’d like to view previous editions, please click here and navigate the News tab, or to subscribe, please click here!
Happy reading and have a lovely weekend!
Queensland Water Network Poses Risk
The Local Government Association of Queensland (LGAQ) has warned of a crisis in the state's ageing water infrastructure, citing a $5 billion funding shortfall. The average pipe age is 58 years, with more than half the network beyond its typical service life. LGAQ president said the problem is beyond what councils can fund alone and is urging the state government to act ahead of its 23 June budget. Read more here
Lord Howe Island lagoon habitat mapped at 30 cm
A new habitat map for the Lord Howe Island lagoon, which is part of the Lord Howe Island Marine Park and formed by the world's southernmost coral reef, has been released by the NSW Department of Primary Industries and Regional Development. It was done at 30 cm resolution using high-resolution imagery from a 2023 low-altitude aircraft survey, while AI-based analysis was used to classify the diverse habitats and to train models to distinguish between bleached coral and image pixels which appear white due to sun glint on the water surface. Read more here;
Image credit: DPIRD
Google Sets 2030 Water Target
Google aims to replenish more water than its data centres consume as scrutiny over data centre water consumption grows. The company expects to restore over 19 billion gallons annually across 97 watersheds and 165 projects. The company has also committed more than $500 million to water, wastewater, and reuse infrastructure in communities where it operates, including a new $17 million investment to support watershed, water quality and infrastructure projects in seven states. Read more here
UN report warns AI could soon use 3% of world’s electricity and more water than we need to drink
A new United Nations report warns that by 2030, AI's energy use could double to consume 3% of the world's electricity, produce emissions equivalent to the UK, and deplete more water for cooling than the annual drinking water needs of the global population. The report also warns against the "Jevons paradox" as AI models become cheaper and more attractive, they will likely encourage new uses and higher volumes of use, limiting efficiency gains. Read more here
Great Barrier Reef Ecosystem Accounts
The Australian Bureau of Statistics recently released the 2022–23 Great Barrier Reef (GBR) Ecosystem Accounts, which provide experimental estimates of the extent, condition, and services of the GBR region. Key findings include declining marine water quality, coral condition, and seagrass condition. Blue carbon ecosystems (mangroves, saltmarsh and seagrass meadows) stored 196 million tonnes of carbon, sequestering 2.56 million tonnes of carbon dioxide equivalent over the year. Other estimates measured include topics like extent, protection and tourism. Read more here
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