Abstract: Since 2003, the United Nations World Water Development Report (WWDR) has published 15 volumes, evolving in theme from “Water for People, Water for Life” to “Water for Peace and Prosperity.” This thematic trajectory reflects a global shift from addressing basic water-supply challenges to tackling sustainable development, climate change, multidimensional water values, and transboundary cooperation. Building on a review of this evolution, the present paper systematically examines the reports’ key insights on drinking-water security, wastewater valorization, nature-based solutions (NBS), and groundwater governance, noting that wastewater reuse, green infrastructure, and integrated groundwater management are increasingly becoming mainstream approaches.The 2024 WWDR emphasizes that water is both a catalyst for social prosperity and, if inequitably managed, a potential source of conflict. Such conflict, however, can be mitigated through equitable allocation, benefit sharing, information transparency, and inclusive governance frameworks. Transboundary river-basin organizations, regional agreements, and smart-monitoring technologies—enabled by remote sensing—have significantly enhanced cooperative performance in high-risk regions. At the same time, the report cautions that technological advances must be underpinned by robust data-sharing and risk-assessment mechanisms. Notably, the growing water footprint of artificial intelligence applications necessitates stronger digital-water management systems and information-security legislation.Drawing on China’s practices—such as the River and Lake Chief system, water-saving initiatives, and resilience strategies for extreme floods and droughts—this paper advocates a risk-based approach to refining water-rights trading and ecological-compensation mechanisms. It proposes integrating green and grey infrastructure, strengthening water-energy-climate linkages to support the “dual-carbon” goal and high-quality development. The paper also emphasizes the importance of expanding public participation, enhancing the water-management capacities of youth and women, and unlocking the water sector’s vast investment potential through innovative financing mechanisms. Only through such comprehensive and inclusive efforts can the world effectively address future water challenges and achieve peace, prosperity, and sustainable development driven by water.