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Work will soon commence on a set of innovative climate services that utilize the unique vantage point of space to provide businesses and organizations with information regarding environmental risks and how to mitigate them. These projects, supported by Artificial Intelligence (AI) and funded by the UK Space Agency, will utilize Earth observation tools, satellite tracking, and population demographics data to develop forecasts and models for sectors such as agriculture, energy, finance, and insurance.

The applications aim to not only enable a better understanding and mitigation of risks but also identify opportunities for green financing to support sustainable business growth. The Minister of State at the Department for Science, Innovation and Technology, George Freeman MP, emphasized the importance of the space perspective in addressing global challenges, stating that it can play a major role in safeguarding the health of the planet and its inhabitants. Dr. Paul Bate, Chief Executive of the UK Space Agency, highlighted the long history of expertise and innovation in Earth observation in the UK, and the funding is meant to support early-stage innovations and accelerate the deployment of powerful new tools with widespread potential.

Each project will receive funding of up to £55,000 to develop services that provide the most up-to-date view of environmental contexts using available Earth observation data. This includes monitoring methane and nitrous oxide emissions, watercourse resilience, biodiversity changes, and the infrastructure of decarbonizing technologies. One of the applications aims to develop a mapping and reporting service that focuses on watercourse resilience, enabling businesses to understand the impact of global temperatures on local watercourses and the benefits of investing in mitigation strategies. Another project will generate social context data to understand the nuanced impact of climate change on different demographic groups, allowing for the development of holistic approaches to environmental issues.

This funding represents the second phase of investment by the UK Space Agency into climate services development. The projects cover various areas such as environmental site monitoring, food production support, and deforestation analysis. The funded projects include an Earth observation and machine learning-based solution to monitor nitrous oxide emissions, a cloud-based service for corporations and financial institutions to assess their climate impact, and an automated methane monitoring service. Other projects focus on biodiversity management, flood and drought forecasting, and tracking gas flaring and methane emissions in the oil and gas supply chains.

Overall, these climate services utilizing space technology aim to enhance environmental understanding and enable proactive measures to mitigate risks and support sustainable development.

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