As satellite technology grows more refined and powerful, so are significant opportunities to use vast quantities of new Earth observation data to improve decisionmaking and solve pressing problems. These Earth observations have obvious benefits for improving the quality of life. However, the magnitude of these benefits is less well understood and appreciated. Accurately assigning an economic value to the data gathered by satellites and aircraft is critical to ensuring environmental and human health as well as financial well-being around the world.
During this RFF webinar, RFF Fellow Yusuke Kuwayama introduced RFF’s Consortium for the Valuation of Applications Benefits Linked with Earth Science (VALUABLES), a cooperative agreement between RFF and the National Aeronautics and Space Administration (NASA). This multi-year effort will advance the valuation of the applied benefits linked to information from space-based observations of Earth, catalyze a community of research and practices of Earth scientists and social scientists, and disseminate findings to key stakeholders from academia, government, NGOs, and elsewhere.