Water Risk Management
With surface water allocations abysmally low, farmers typically would turn to groundwater to meet the needs of their crop. This may or may not be an option for various reasons including the Sustainable Groundwater Management Act, causing some farmers to look to the open market.
Peacock... “Farmers are starting to run into real issues in terms of what they can actually do on the farm. In some cases they have to follow the land or they have to rotate crops differently, or they have to buy water from other sources. Either from other water agencies or from private water rights that can be delivered via the systems if available.”
That’s Chris Peacock, Founder and CEO of water risk analytics company AquaOso.
Peacock… “Aquaoso originally started as a water market trading platform before we made the pivot in the water risk analytics, what we do today. Yeah, we're, we're big fans of water markets when they are established properly and the right rules are put in place around them. There's a number of markets that are kind of in testing phases right now, all across the state of California. Over time in the next few years, we will see more and more water markets come to light. Although water markets have been in existence for quite a while now.”
AquaOso helps banks and others assess groundwater and wildfire risk.