The 1992 Dublin Conference established four guiding principles for managing freshwater resources: The Dublin principles state that: (1) Water is a finite and vulnerable resource, essential to sustain life, development and the environment; (2) Water development and management should be based on a participatory approach, involving users, planners and policymakers, at all levels; (3) Women play a central part in the provision, management and safeguarding of water; (4) Water has an economic value in all its competing uses and should be recognized as an economic good.