Option 1: 50% - This option suggests that half of the world`s freshwater is stored as glacial ice. However, this is incorrect as the correct answer is 70%.

Option 2: 10% - This option suggests that only a small percentage of the world`s freshwater is stored as glacial ice. However, this is incorrect as the correct answer is 70%.

Option 3: 70% - This is the correct answer. It indicates that 70% of the world`s freshwater is stored as glacial ice. Glacial ice is a significant source of freshwater for various regions and plays a crucial role in maintaining water resources.

Option 4: 30% - This option suggests that only about one-third of the world`s freshwater is stored as glacial ice. However, this is incorrect as the correct answer is 70%.

In conclusion, option 3 is the correct answer, stating that 70% of the world`s freshwater is stored as glacial ice.