CASE STUDY 4.5: Framework for determining the net socio-economic benefits of Earth systems and climate change science and services
The ESCC Hub supports a diverse portfolio of scientific research and service delivery to address stakeholder needs and to realise outcomes relevant to Australia’s national interest. However, it is difficult to measure the socio-economic value of this research to the nation in the absence of standardised metrics as part of a broader approach to climate change science and services impact evaluation and reporting.
In this case study, we’re developing a conceptual cost-benefit framework designed to measure the short to long-term value of the Hub’s research outputs to the Australian economy and society more generally. The case study will also demonstrate the practical application of this framework and propose a strategic process for further developing and implementing the framework over the life of the Hub.
In showing the value of the science, this analysis will inform future research planning and government planning and demonstrate the value of the Government’s investment in climate change science.