The Value-Add of Tailored Seasonal Forecast Information for Industry Decision Making
There is a growing need for more systematic, robust, and comprehensive information on the value-add of climate services from both the demand and supply sides. There is a shortage of published value-add assessments that focus on the decision-making context, involve participatory or co-evaluation appr...
| Main Authors: | , , , , , , , , , , , , , , , , , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2022-10-01
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| Series: | Climate |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2225-1154/10/10/152 |
| _version_ | 1797474198910664704 |
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| author | Clare Mary Goodess Alberto Troccoli Nicholas Vasilakos Stephen Dorling Edward Steele Jessica D. Amies Hannah Brown Katie Chowienczyk Emma Dyer Marco Formenton Antonio M. Nicolosi Elena Calcagni Valentina Cavedon Victor Estella Perez Gertie Geertsema Folmer Krikken Kristian Lautrup Nielsen Marcello Petitta José Vidal Martijn De Ruiter Ian Savage Jon Upton |
| author_facet | Clare Mary Goodess Alberto Troccoli Nicholas Vasilakos Stephen Dorling Edward Steele Jessica D. Amies Hannah Brown Katie Chowienczyk Emma Dyer Marco Formenton Antonio M. Nicolosi Elena Calcagni Valentina Cavedon Victor Estella Perez Gertie Geertsema Folmer Krikken Kristian Lautrup Nielsen Marcello Petitta José Vidal Martijn De Ruiter Ian Savage Jon Upton |
| author_sort | Clare Mary Goodess |
| collection | DOAJ |
| description | There is a growing need for more systematic, robust, and comprehensive information on the value-add of climate services from both the demand and supply sides. There is a shortage of published value-add assessments that focus on the decision-making context, involve participatory or co-evaluation approaches, avoid over-simplification, and address both the quantitative (e.g., economic) and qualitative (e.g., social) values of climate services. The 12 case studies that formed the basis of the European Union-funded SECLI-FIRM project were co-designed by industrial and research partners in order to address these gaps while focusing on the use of tailored sub-seasonal and seasonal forecasts in the energy and water industries. For eight of these case studies, it was possible to apply quantitative economic valuation methods: econometric modelling was used in five case studies while three case studies used a cost/loss (relative economic value) analysis and avoided costs. The case studies illustrated the challenges in attempting to produce quantitative estimates of the economic value-add of these forecasts. At the same time, many of them highlighted how practical value for users—transcending the actual economic value—can be enhanced; for example, through the provision of climate services as an extension to their current use of weather forecasts and with the visualisation tailored towards the user. |
| first_indexed | 2024-03-09T20:26:45Z |
| format | Article |
| id | doaj.art-f3e92138e0564b339633f3cac2a048c8 |
| institution | Directory Open Access Journal |
| issn | 2225-1154 |
| language | English |
| last_indexed | 2024-03-09T20:26:45Z |
| publishDate | 2022-10-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Climate |
| spelling | doaj.art-f3e92138e0564b339633f3cac2a048c82023-11-23T23:34:43ZengMDPI AGClimate2225-11542022-10-01101015210.3390/cli10100152The Value-Add of Tailored Seasonal Forecast Information for Industry Decision MakingClare Mary Goodess0Alberto Troccoli1Nicholas Vasilakos2Stephen Dorling3Edward Steele4Jessica D. Amies5Hannah Brown6Katie Chowienczyk7Emma Dyer8Marco Formenton9Antonio M. Nicolosi10Elena Calcagni11Valentina Cavedon12Victor Estella Perez13Gertie Geertsema14Folmer Krikken15Kristian Lautrup Nielsen16Marcello Petitta17José Vidal18Martijn De Ruiter19Ian Savage20Jon Upton21School of Environmental Sciences, University of East Anglia, Norwich NR4 7TJ, UKSchool of Environmental Sciences, University of East Anglia, Norwich NR4 7TJ, UKNorwich Business School, University of East Anglia, Norwich NR4 7TJ, UKSchool of Environmental Sciences, University of East Anglia, Norwich NR4 7TJ, UKMet Office, FitzRoy Road, Exeter EX1 3PB, UKMet Office, FitzRoy Road, Exeter EX1 3PB, UKMet Office, FitzRoy Road, Exeter EX1 3PB, UKMet Office, FitzRoy Road, Exeter EX1 3PB, UKMet Office, FitzRoy Road, Exeter EX1 3PB, UKEnel Global Trading S.P.A., Viale Regina Margherita 125, 00198 Roma, ItalyEnel Global Trading S.P.A., Viale Regina Margherita 125, 00198 Roma, ItalyEnel Global Trading S.P.A., Viale Regina Margherita 125, 00198 Roma, ItalyPAT-Province of Trento, Service for Torrent Control, 38121 Trento, ItalyUL Solutions, Caravel·la la Niña 12, 08017 Barcelona, SpainKNMI, Utrechtseweg 297, 3731 GA De Bilt, The NetherlandsKNMI, Utrechtseweg 297, 3731 GA De Bilt, The NetherlandsWorld Energy Meteorology Council, The Enterprise Centre, University of East Anglia, University Drive, Norwich NR4 7TJ, UKLaboratory Climate Modelling, SSPT-MET-CLIM, ENEA, 00123 Rome, ItalyUL Solutions, Caravel·la la Niña 12, 08017 Barcelona, SpainTenneT, Utrechtseweg 310, 6812 AR Arnhem, The NetherlandsThames Water Utilities Ltd., Clearwater Court, Vastern Road, Reading RG1 8DB, UKShell U.K. Limited, Shell Centre, London SE1 7NA, UKThere is a growing need for more systematic, robust, and comprehensive information on the value-add of climate services from both the demand and supply sides. There is a shortage of published value-add assessments that focus on the decision-making context, involve participatory or co-evaluation approaches, avoid over-simplification, and address both the quantitative (e.g., economic) and qualitative (e.g., social) values of climate services. The 12 case studies that formed the basis of the European Union-funded SECLI-FIRM project were co-designed by industrial and research partners in order to address these gaps while focusing on the use of tailored sub-seasonal and seasonal forecasts in the energy and water industries. For eight of these case studies, it was possible to apply quantitative economic valuation methods: econometric modelling was used in five case studies while three case studies used a cost/loss (relative economic value) analysis and avoided costs. The case studies illustrated the challenges in attempting to produce quantitative estimates of the economic value-add of these forecasts. At the same time, many of them highlighted how practical value for users—transcending the actual economic value—can be enhanced; for example, through the provision of climate services as an extension to their current use of weather forecasts and with the visualisation tailored towards the user.https://www.mdpi.com/2225-1154/10/10/152climate servicesenergywaterseasonal forecastsvalue-addco-production |
| spellingShingle | Clare Mary Goodess Alberto Troccoli Nicholas Vasilakos Stephen Dorling Edward Steele Jessica D. Amies Hannah Brown Katie Chowienczyk Emma Dyer Marco Formenton Antonio M. Nicolosi Elena Calcagni Valentina Cavedon Victor Estella Perez Gertie Geertsema Folmer Krikken Kristian Lautrup Nielsen Marcello Petitta José Vidal Martijn De Ruiter Ian Savage Jon Upton The Value-Add of Tailored Seasonal Forecast Information for Industry Decision Making Climate climate services energy water seasonal forecasts value-add co-production |
| title | The Value-Add of Tailored Seasonal Forecast Information for Industry Decision Making |
| title_full | The Value-Add of Tailored Seasonal Forecast Information for Industry Decision Making |
| title_fullStr | The Value-Add of Tailored Seasonal Forecast Information for Industry Decision Making |
| title_full_unstemmed | The Value-Add of Tailored Seasonal Forecast Information for Industry Decision Making |
| title_short | The Value-Add of Tailored Seasonal Forecast Information for Industry Decision Making |
| title_sort | value add of tailored seasonal forecast information for industry decision making |
| topic | climate services energy water seasonal forecasts value-add co-production |
| url | https://www.mdpi.com/2225-1154/10/10/152 |
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