Freshwater is essential for the well-being of people and planet, but water resources worldwide are being overexploited. I estimate how much water we use globally to produce food, clothes, and more, and assess what values apparently underly current water footprint patterns. Applying various ethical perspectives on water use, I investigate when and where water can serve multiple functions simultaneously or where tough choices have to be made to avoid or reduce water-related problems. My research furthermore supports policy processes that strive to give due attention not only to economic but also societal and environmental values of water use.