Efforts towards local and national environmental security need to be understood in the broader context of economic globalization and its role in promoting privatization and the commodification of natural resources.
Commodification is the rendering of naturally available resources such as water as commercial commodities. Advocates of commodification insist the market place and market forces are the only realistic long term mechanism for balancing human consumption of natural resources; allowing the laws of supply and demand to determine appropriate price values for limited resources.
The future of one of the earth's most vital resources is being determined by those who profit from its overuse and abuse. At the 1998 annual World Economic Development Congress, which follows the annual International Monetary Fund/World Bank meeting, corporations and financial institutions met with government representatives from more than 84 countries to attend panels on such subjects as "Overcoming Obstacles to Water Investment" and " Navigating Transparency and Banking Regulation in Emerging Capital Markets." The agenda was clear: water should be traded like any other tradable good, with its use determined by market principles.