Prospects for and value of long-time series data using global reanalysis data sets in the development of global climate derivatives

Stone, Roger C. and Best, Peter and Sosenko, Olena (2008) Prospects for and value of long-time series data using global reanalysis data sets in the development of global climate derivatives. In: 2008 International Conference on Reanalyses Data, Historical Reanalyses and Climate Applications, 23-25 June 2008, Zurich, Switzerland.

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Abstract

This presentation addresses weather risk management, especially for farmers. Potential benefits should accrue if the co-joining of weather/climate risk management and seasonal forecasting is encouraged across many weather-sensitive industries (e.g. agriculture, mining, energy and tourism), if longer-term perspectives of risk across many seasons are adopted and if support is given to suitable trading mechanisms and industry extension programmes.. Global indices(eg SOI) hold promise for risk management at varying spatial and temporal scales.There is value in applying CAI (eg 'climate derivatives') as an adjunct to climate forecasting systems in order to better manage risk. Therefore, need to access suitable data sources of other key indices (NAO, SAM, Nino 3.4) in order to price these systems.


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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: No
Item Status: Live Archive
Additional Information: No evidence of copyright restrictions. This is an unrefereed presentation.
Depositing User: Ms Julia Ballinger
Faculty / Department / School: Historic - Faculty of Sciences - No Department
Date Deposited: 15 Sep 2010 12:45
Last Modified: 02 Jul 2013 23:48
Uncontrolled Keywords: long-time series data; global reanalysis data sets; global climate derivatives
Fields of Research (FOR2008): 05 Environmental Sciences > 0599 Other Environmental Sciences > 059999 Environmental Sciences not elsewhere classified
URI: http://eprints.usq.edu.au/id/eprint/7573

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