Global water resource management is "fragmented and inadequate" and countries should urgently adopt reforms to ramp up financing and boost cooperation on emergency warning systems ahead of a looming crisis, the UN weather agency announced on Tuesday.

Climate change is expected to increase water-related hazards such as droughts and floods while the number of people living with water stress is expected to soar due to growing scarcity and population growth, the report warned.

"We need to wake up to the looming...