ESA-funded Project “Space2CLIMB” Aims to Revolutionise Financial Sector with Biodiversity Service

Date

April 16th, 2024

Category

Article, Biodiversity, Ethical Investment, Responsible Business

Written by

Marta Mas i Serra

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The European Space Agency (ESA) has awarded funding to the exciting project Space2CLIMB, poised to explore the feasibility of a product that will support the financial services sector through innovative biodiversity analytics. Led by GlobalTrust, a leader in Earth Observation (EO) data analytics, in collaboration with Ecogain, renowned for its expertise in biodiversity preservation, Space2CLIMB is set to pioneer a satellite data-driven service at the intersection of environmental sustainability and financial decision-making.

Space2CLIMB’s core objective is to explore the power of EO data and biodiversity insights to develop a comprehensive biodiversity service tailored specifically for the financial sector. By integrating GlobalTrust’s unparalleled proficiency in EO data analytics with Ecogain’s deep understanding of biodiversity, the project aims to deliver actionable intelligence that empowers financial institutions to make informed decisions to mitigate risks and support the green transition.

“This collaboration between GlobalTrust and Ecogain represents a significant leap forward in leveraging cutting-edge technology to address pressing environmental challenges while simultaneously enhancing financial resilience,” said Dr Hilton, CEO of GlobalTrust. “Space2CLIMB’s goal is to bridge the gap between biodiversity conservation and financial decision-making. It provides a unique opportunity to the financial sector to integrate sustainability considerations into their operations, whilst ensuring that the ecological science best practice is honoured and the financial decision making can be made on a global scale.”

Space2CLIMB aims to enable financial institutions to use biodiversity data to serve as a decision basis for assessing the environmental risks associated with their investments, optimise portfolio management strategies, and identify opportunities for sustainable financing. By providing real-time biodiversity insights derived from EO data, the service seeks to empower decision-makers to align their investments with global biodiversity goals, contributing to mitigating negative impacts and enhancing the restoration of critical ecosystems.

“We are happy to announce our partnership with GlobalTrust on the Space2CLIMB project, which represents an important step in our mission to promote biodiversity conservation and restoration through innovative solutions,” remarked Katarina Walter, CEO of Ecogain. “By adding our expertise in biodiversity to GlobalTrust’s advanced EO analytics, we aim to empower financial institutions to engage with positive environmental change.”

The Space2CLIMB project seeks to drive progress towards achieving the United Nations Sustainable Development Goals (SDGs), particularly Goal 15 on Life on Land, and also to align with The Biodiversity Plan (the Kunming-Montreal Global Biodiversity Framework). The project’s length spans over nine months, where stakeholders of the financial sector are giving the model development team their insights of the gap between the current and needed environmental sustainability strategies, to mitigate risks and promote opportunities while reversing the negative trend of biodiversity loss.

For more information about Space2CLIMB and the partnership between GlobalTrust and Ecogain, please visit https://globaltrustgrp.com/space2climb-project/.