The joint WMO, World Bank Group, and Climate Services Partnership book entitled "Valuing Weather and Climate: Economic Assessment of Meteorological and Hydrological Services" was launched at the 17th World Meteorological Congress on 28 May 2015. The book aims to help Met Services develop a basic understanding of economic valuation methods to enable them to successfully design and commission economic studies. The book also supports the use of results from socio-economic studies to improve service delivery through optimizing business methods and improving communication with key decision makers. The approach invites NMHSs to thoroughly consider the entire value chain from observation through to decisions made by end users of weather or climate services, and also extends beyond monetized benefits and costs. Particular attention is paid to the communication and the transparency of such evaluations. In this poster we provide an overview of the book, the weather information value chain, economic methods discussed in the book, a summary of benefit-cost studies demonstrating the economic value of NHMSs, and a summary of the case studies presented in the book. We also provide an overview on a series of three regional workshops that built on the book to inform NMHSs on the use of socio-economic benefits assessments.
References: WMO, WBG, GFDRR & USAID. 2015. Valuing Weather and Climate: Economic Assessment of Meteorological and Hydrological Services. World Meteorological Organization, World Bank Group, Global Facility for Disaster Reduction and Recovery, and United States Agency for International Development, WMO No. 1153, Geneva, Switzerland. Available online: https://www.gfdrr.org/sites/default/files/publication/SEB%20HYDROMET.pdf