I am interested in tools to inform decision making, in particular investment decisions. I wonder what people’s views are of the PACE tool which looks at the costs, carbon impact and economic impact of different investments, in areas such as energy generation, transport, energy efficiency and retro-fitting. The tool was developed using EU funding and is therefore free to anyone who wants to use it, all that is required is the provision of relevant up-to-date data. The regions for sustainable change website provides access to the tool and a report on scenarios and policy that explains how it was used in three pilot areas. The link is http://www.rscproject.org/activities.php?section=Analysis-on-three-partner-regions'-economy-.
I led the team that developed the PACE tool and it has now been used successfully as part of studies on renewable energy potential in Lancashire and Cumbria - in addition to the original pilot areas including Cornwall. With the tool's ability to forecast impact in terms of local job creation alongside carbon saving we always envisaged it being of use to LEPs and local authority economic development teams. So I would also be interested in experiences and feedback.