While it becomes apparent that the sustainable development goal for water will likely not be met by 2030, the first UN Water Conference in almost half a century has produced a large number of non-binding commitments and pledges, thus falling short of closing the global governance gap that is widening through climate change. This article adopts a risk governance perspective and provides reflections and recommendations on the need for coordination, critical evaluation, integration and a deeper understanding of risk perceptions and responses related to the water SDG across public, private and civil society actors. Drawing on van Asselt and Renn, the paper proposes a water risk governance framework applying the principles of communication and inclusion, integration, and reflection, to assessing progress toward the water SDG. Focusing on the transformation of water services, it discusses who is represented, whose risks are perceived and responded to, and who is responsible for providing evidence and scaling innovation. It concludes that for scaling up four elements are necessary, including institutional innovation, financing mechanisms, monitoring, as well as social and policy uptake.