Water scarcity levels are rising, and climate change, pollution and population growth continue to sap the world’s reserves. Some 2.3 billion people currently live in water-stressed countries, of which 733 million live in high and critically water-stressed countries, according to the UN-Water.

Establishing the risk profile of any new technology is never an easy task. The stakes are raised further, however, when the technology is integrally – if controversially – linked to global decarbonization efforts...