NEW YORK (AFP) – World agriculture employs more than one billion people but is in trouble because it’s the biggest consumer of ever scarcer water and a huge producer of greenhouse gas emissions, a new report said Wednesday.

Worldwatch Institute, a research group on climate, energy, agriculture and the green economy, said there had to be a revolution in investment in food and water to reverse a “frightening” long-term depletion of stocks.

“Agriculture as we know it today is in trouble,” said the institute’s “State of the World 2011” report.

The industry accounts for one trillion dollars of the global economy but also 70 percent of water withdrawals and 15 percent of greenhouse gas emissions, much of that from developing countries.

The institute said small farmers who dominate the industry would be the key to maintaining food supplies for the world’s estimated one billion hungry people.

Studies have shown that increasing food production is not making a dent in reducing hunger in the world.