It is becoming increasingly important for Rural RDCs to continually monitor and evaluate the returns from RD&E investment, as government and industry require greater transparency and accountability of RD&E funds.

In addition to FRDC’s Statutory Funding Agreement requirements for valuing return on investment and use in its Annual Reports, impact assessments of FRDC’s RD&E investments are needed to inform:
– Future investment decisions
– CRRDC’s overall performance review of impact generated by RDCs
– Levy payers and government of the performance of investments.

GHD understands that the project will comprise two key components:
– An economic impact assessment of up to 20 research projects for the three-year period FY23/24, 24/25, and 25/26
– An individual and aggregated report of all assessed projects at the completion of assessments.

GHD notes that within this period the first five assessments for FY23/24 are required by June 2024 with the remainder of the projects, i.e. 10, due in September 2024. These assessments are required to be consistent with the CRRDC Guidelines for Impact Assessments. FRDC RD&E projects are to be assessed annually to meet Statutory Funding Agreement (SFA) requirements for valuing return on investment for use in FRDC’s Annual Reports and performance of FRDC’s investments.
In conducting the impact assessment project it will be important to note that one of FRDC’s key responsibilities is to ensure that research to assist management of fisheries and aquaculture resources is being undertaken to maintain ongoing sustainability. While the primary focus of these benefit-cost analyses over time has been economic impact, with references to environmental and social implications where appropriate, FRDC is increasingly interested in understanding the impact of R&D investments on environmental, social, and economic aspects more holistically.

The objective of this foundational work is to collaborate with industry to produce a Fishing and Aquaculture Workforce Capability Framework. The Framework will be used by fishing and aquaculture sectors / communities for workforce planning and career mapping. It will support a more strategic and consistent approach to workforce planning. This in turn, will enable industry to build its capacity through better understanding of capability needs.

In addition to the universal challenges associated with a tight labour market (e.g. attracting people, barriers to entry, addressing skills needs), the industry is operating in a changing environment. Other challenges and opportunities for the fishing and aquaculture sectors include:
• Adapting to climate change
• Biosecurity
• Managing resources efficiently
• Meeting sustainability standards / social license to operate
• Moving to a circular economy
• Managing global supply chains (developing traceability, addressing counterfeit)
• Competing with other proteins
• New markets through free trade agreements
• Adopting digital technology, and;
• Attracting and retaining people to drive responses to changes that impact on the F&A community.

The AgriFood Supply Chain Resilience report (KPMG, 2022) identified ‘labour supply, wellbeing and succession’ as one of the significant stresses for seafood supply chains. Other significant stresses were weather and climate change, cold chain and freight space availability, sustainability and social licence, pests and disease and market access.

Fish Forever (2030 vision for Australia’s fishing and aquaculture community) highlights opportunities for the F&A community and contains outcomes under each of the following missions:
1. Growth for enduring prosperity
2. Best practices and production systems
3. A culture that is inclusive and forward thinking
4. Equitable and secure resource access
5. Society and consumers trust, respect and value.

This project will identify the capability needs (current and future) to address these challenges and opportunities. Further, it will support industry, to attract and retain people and to provide pathways to build capability. Sectors will be better informed as to how to address capability needs.

Addressing these needs will ensure industry is better equipped to respond to changes, challenges and opportunities that impact the fishing and aquaculture communities. The fishing and aquaculture map (FRDC website) highlights the “complex systems behind Indigenous, commercial and recreational fishing and aquaculture in Australia and how the elements are connected”. It also highlights how issues or events in one part of the system can have impacts on other sectors. Therefore, industry needs to be prepared for changes.

This project will engage with all key F&A sectors to ensure the capability framework is industry-driven and collectively owned. In addition, the project approach is designed to utilise existing sector/industry plans and not replace existing frameworks. RMCG will work collaboratively with industry.