How will climate change affect you? Probably through water.

That’s the major message of a new World Bank report that finds the ways governments treat water can have a profound effect on the economy.

This Earth Day, the United States, China, and Canada are among more than 170 countries expected to take part in the largest one-day signing of an international agreement in history. The ratification of the climate agreement hammered out at the Paris Conference of Parties (COP-21) last December could be the most significant elevation of environmental issues on the global stage yet.

Iraq has seen its share of calamities in recent years, but none is as dangerous as the impending failure of the Mosul Dam. A breach of the dam will result in a tsunami-like wave that sweeps through cities and hamlets along the Tigris River from Mosul to as far south as Amarah and even Basra. Baghdad would be submerged under five meters of water within four days. Not only do experts estimate the possible fatalities to range from 500,000 to more than 1 million, but consider the logistics of trying to provide electricity, drinking water, food, hospitals, transportation, and diesel for millions of people.

The world is entering a new phase of climate change defined by “failure to mitigate sufficiently and failure to adapt sufficiently,” said Saleemul Huq, director of the Bangladesh-based International Center for Climate Change and Development, at the Wilson Center on March 16. [Video Below]

Sitting at my desk looking at bills to be paid, the first one on the stack is for the water company, emblazoned with the phrase, “Water is Life.” Yes, we all know that. But really, as my teenagers would say, “Duh, Mom. So what?”

Well, here’s the “so what” on this World Water Day 2016.

Around the world, urbanization and climate change are transforming societies and environments, and the stakes could not be higher for the poor and marginalized. The 2015 UN climate conference in Paris (COP-21) highlighted the need for coordinated action to address the profound injustice of the world’s most disadvantaged people bearing the greatest costs of climate impacts. Among those at the COP were mayors from around the world advocating for the important role of cities in these efforts.

The agreement coming out of the COP-21 negotiations gave breakthrough recognition to the concept of “loss and damage,” sorting through thorny discussions and politically charged negotiating positions. These positions revolved around liability and compensation, which developing countries called for but developed countries were unwilling to have included in the agreement.