This study, developed by South Pole for the Swiss Government, explores the importance of water risks for the overall economy and the financial system and reviews the availability of data, models, tools and studies to assess the impacts of water risks on the real economy and the financial market (both institutional and systemic level is explored). In addition to the risk perspective, this study also explores, if there are alignment strategies, thus investment strategies aiming at contributing to international water goals or scientific findings on adequate use of water (quantity and quality).