Details of Award
NERC Reference : NE/P001467/1
Market assessment for an extreme weather and climate change analytics platform to enhance infrastructure resilience in the global electricity sector
Grant Award
- Principal Investigator:
- Dr S Jackman, University of Oxford, Zoology
- Co-Investigator:
- Professor JW Hall, University of Oxford, Environmental Change Institute SoGE
- Co-Investigator:
- Professor MR Allen, University of Oxford, Geography - SoGE
- Co-Investigator:
- Professor H Godfray, University of Oxford, Oxford Martin School
- Grant held at:
- University of Oxford, Zoology
- Science Area:
- Atmospheric
- Freshwater
- Terrestrial
- Overall Classification:
- Unknown
- ENRIs:
- Environmental Risks and Hazards
- Global Change
- Science Topics:
- Climate & Climate Change
- Hydrological Processes
- Water resources
- Environmental Informatics
- Abstract:
- The impact of climate change is evidenced by increases in extreme events such as storms, floods and heatwaves as well as longer-term effects such as drought and biodiversity decline. There is a growing requirement for organisations to build greater resilience into their operations to better manage the impacts of such climate-driven changes. In order to become more resilient they need to understand both the likely severity and frequency of extreme events and the longer-term impacts of climate change. This is where Oxford University's climate projection system is able to help: We can generate 10,000s to 100,000s of climate model runs through a distributed computing system. From these model runs, we can extract specific events that match defined profiles for storms, floods, droughts etc. By integrating this data via a weather generator, which generates synthetic weather events, into hydrological, hydraulic, loss, economic and related models we will be able to provide organisations with significantly more robust and internally coherent predictions of the impacts of climate change on their operations and businesses than has been available hitherto. This integration of datasets and models will be via an integrated resilience modelling platform. The inherent commercial value of the dataset generated by a NERC-funded project on drought projection, MaRIUS, will be realised through this route. An initial analysis of the requirements of business sectors for resilience information, looking across the water, insurance, energy and agriculture/food sectors found that the energy sector has the greatest expenditure on climate information and that this is growing as deployment of infrastructure increases in emerging economies in South-East Asia, Africa and South America. This assessment will focus on four key stakeholder groups in the Electricity generation, transmission and distribution market: Investors, Engineering and environmental consultancies, Electricity generation, transmission and distribution companies, and Professional services providers. The primary users of climate analytics in the investment community are development banks, although usage by investment banks is increasing. Engineering and environmental consultants conducting environmental impact assessments (EIAs) in support of the planning and deployment of infrastructure are also important users. In both these cases, there is a political and regulatory drive to increase the use and robustness of climate information. For example, in the run-up to the COP21 negotiations, the investment community is increasing its emphasis on climate resilience while the EU has mandated that climate change and biodiversity must be incorporated into all EIAs by the end of March 2017. There is increasing recognition by electricity companies that climate analytics has an important role in informing both their strategic planning and operational decision-making. At the same time, climate services and sustainability are rapid growth service lines in the Big Four accountancy firms. This assessment will gain a detailed understanding of the climate change information needs of the above stakeholder groups with the aim of identifying first, the scale of the market opportunity in the Electricity generation and transmission sector for Oxford's resilience analytics and, second, the optimal market entry strategy for realising their commercial potential. There is potential to commercialise those analytics in other sectors once market traction has been gained in the Electricity infrastructure sector, although that analysis is outside the scope of this assessment.
- NERC Reference:
- NE/P001467/1
- Grant Stage:
- Completed
- Scheme:
- Innovation
- Grant Status:
- Closed
- Programme:
- Follow on Fund Pathfinder
This grant award has a total value of £20,120
FDAB - Financial Details (Award breakdown by headings)
| DI - Other Costs | Indirect - Indirect Costs | DA - Investigators | DA - Estate Costs | DA - Other Directly Allocated | DI - T&S |
|---|---|---|---|---|---|
| £16,049 | £886 | £2,781 | £336 | £22 | £47 |
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