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Ten new projects are set to provide businesses and other organizations with information about environmental risks and how to mitigate them through innovative climate services. These projects will use Earth observation tools, satellite tracking, and data on population demographics, supported by Artificial Intelligence (AI), to produce forecasts and models. The information generated can be used by sectors such as agriculture, energy, finance, and insurance.

The project is funded by the UK Space Agency and aims to help businesses, governments, and others understand and mitigate risks while also identifying opportunities for green financing to support sustainable business growth. Minister of State at the Department for Science, Innovation and Technology George Freeman MP states that this funding supports UK innovators in leveraging modern technology like satellite data, AI, and Earth observation. He believes that these tools will not only contribute to economic growth but also position the UK as a major player in space.

Dr. Paul Bate, Chief Executive of the UK Space Agency, explains that the funding is aimed at supporting fresh ideas and accelerating the rollout of powerful new tools that can benefit a wide range of users, both within and beyond the space sector.

Each project will receive up to £55,000 in funding to develop services aimed at providing the most up-to-date view of environmental contexts using Earth observation data. This includes monitoring methane and nitrous oxide emissions, assessing watercourse resilience, tracking biodiversity changes, and evaluating the infrastructure of decarbonizing technologies.

One of the funded projects, led by EOLAS Insight Ltd, aims to develop a mapping and reporting service that focuses on watercourse resilience. This service will help businesses understand how global temperatures affect local watercourses and the benefits of investing in mitigation strategies, such as riverside woodland schemes.

This £530,000 funding represents the second tranche of investment by the UK Space Agency into climate services development. Earlier this year, £85,000 was awarded to nine UK organizations at the early stages of idea development. These organizations used the funding to demonstrate the potential of their business ideas.

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