Collaboration with EU-MACS
EU-MACS gathers 9 partners and will make the wealth of climate information truly accessible and applicable for a large variety of potential climate service users. In cooperation with current and potential CS users, the project will develop mechanisms that should assist both CS providers and users in better matching their products, capabilities, and needs, while at the same time also smoothing the processes for searching, selecting, tailoring, and (decision oriented) using climate service products.
MARCO and EU-MACS will collaborate on the following similar but not identical fields of action:
- Business modeling and innovation dynamics
- Market inventories and stakeholder engagement
- Some of the case studies.
The synergies will be created through common/joint actions, meetings and reports.
MARCO will run for two years and involves 11 partners from six countries across Europe. Coordinated by the European Climate-KIC, it gathers market research firms, climate scientists, climate services practitioners and innovation actors to provide detailed insight into the climate services market in Europe.
In addition to assessing this market, the project will carry out case studies, forecast future user needs, assess market growth until 2030, unveil opportunities, raise awareness and connect service providers and users.
Finally, the recommendations made by MARCO to policy-makers may enable the creation of an EU climate services market observatory that will help monitor and evaluate the growth of the market.
A number of barriers prevent the widespread uptake of the climate services market; however the lack of appropriate services or technologies is not one of them. Some of the most common acknowledged barriers are:
- Market barriers and failures: Mismatch between the available climate services information and the unexpressed needs of users. Information has a tendency to be very long-term aggregate information with a spatial and sectoral structure, which is very difficult to connect to the needs and organisational units governing the demand side of the market. The challenge to overcome for the supply side is to structure its offer and for the demand side, to understand its benefits. Furthermore, climate sustainability issues are a low priority for various consumers and firms. Lack of standards or quality certification are additional barriers.
- Financial barriers: Unknown or uncertain paybacks and economic uncertainties regarding the benefits of climate services.
- Institutional, administrative and structural barriers: Complex multi-stakeholders issues due to the variety of sectors addressed; limitations in legal framework, insurance.
As a result, the current untapped market for climate services is very large and is characterised by both gaps between the supply and demand in the existing market and by a large latent market of demand and supply that is not realised.
The MARCO project will characterise the current and untapped market for climate services in Europe and derive opportunities for market growth.