With the rapid development of society and the economy, the demand for water resources is increasing. This, combined with the increasing competition for water resources between current and future generations, hinders the sustainable development of society. To alleviate prominent water resources problems, achieve sustainable utilization of water resources and the sustainable development of society and economy, a multi-objective optimal water resources allocation model is proposed, in which different water sources and different water departments are considered to achieve the maximum social and economic benefits of the study area on the premise of water resources sustainability. To meet the needs of future generations, the discount value is introduced to measure intergenerational equity. A case study from seven cities in the upper and middle reaches of the Huaihe River Basin is given to verify the practicality and viability of the model. The non-dominated sorting Genetic Algorithms-2(NSGA-2) was used to find optimal water resources allocation schemes in 2020 and 2050 under the condition of a hydrological drought year (inflow guarantee rate p = 75%). Compared with previous models, the intergenerational equity model considers the sustainability of water resources, has higher social and economic benefits, and ensures the fair distribution of water resources among generations. According to the results, under balanced weight, the water shortage ratio of the seven cities will decrease from 5.24% in 2050 to 1.58% in 2020, and the economic benefit will increase from 79.46(1010CNY) to 168.3(1010CNY), respectively. In addition, the discount value of economic benefit in 2050 is 80.23(1010CNY), which is still higher than that in 2020. This shows that the water resource allocation scheme can eliminate the disparity between supply and demand for water resources and achieve intergenerational equity. Therefore, the intergenerational equity model can alleviate the contradiction of water resources and realize intergenerational equity.
Keywords: Huaihe River Basin; conflict resolution; discount value; intergenerational equity; multi-objective optimal allocation of water resources; sustainable development.