Bursting water pipelines as heat soars herald new infrastructure crisis

Plus: EU vote portends massive shift in climate priorities

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Well, there’s your problem: Atlanta’s water system failed last week after two large, unrelated pipe breaks, as well as many smaller breaks. The culprit? Age-related decay and corrosion. Photo: Atlanta Department of Watershed Management.

. . . . A series of massive water pipeline bursts in Atlanta last week highlighted a major new climate emergency. Our water infrastructures are breaking down just when we need them most.

With global heat averages setting records for 12 straight months now, and U.S. cities such as Miami and Phoenix sweltering under temperatures as high as 112°F, losing access to water like thousands did in Atlanta last week quickly becomes a life and death issue, as well as an economic catastrophe.

Investors have been piling into water funds and ETFs this year as water shortages combined with infrastructure worries drive prices higher. Now the prospect of more pipeline breakdowns will certainly add to the speculation.

The Invesco S&P Global Water Index ETF CGW 0.00%↑ is up 8.34% year-to-date while the iShares Global Water Index ETF (CWW) is up 10.66%. The Fidelity Water Sustainability Fund (FLOWX), which I bought a few shares of a couple years ago to monitor water performance, is also up more than 10% this year.