In this book, climate change and digital transformation are explored as key strategic drivers for the contemporary practices of water utility companies. These drivers seem to be separate, but clearly, they are not. The recent weather anomalies in water stressed countries are discussed, which have been breaking records and become an elevated risk to water assets. In parallel, the book examines a contextual proposition that the concept of the fourth industrial revolution applied to the water sector, Water 4.0, assists with the water supply decentralisation and sustainability, in particular climate resilience. It further suggests that the implementation of an Asset Management System with reference to the ISO 55001 standard is a useful tool in this process.