The concept of sustainable development appeared almost twenty years ago, adapting traditional policies to new circumstances, and promoting progress capable of satisfying the necessities of both present and future generations. It is widely believed that the need for a proper and sustainable management of water will be a problem which will confront society in the 21st century. In this publication, the main political aspects are successively developed, including the EU Water Framework Directive, the globalization and privatization of fresh water and the case of the new Australian structure for water regulation. The second part of the book is devoted to more practical aspects: from the real effects of climate change, to the various implications of water sustainability on agriculture and cities, devoting particular attention to the experience of the Environment Agency in UK. Finally, the last chapter delves into the economic aspects of the different approaches, and the points to take into account when they are to be translated to the final water tariff.