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ESA Funds GlobalTrust and Ecogain’s Space2CLIMB Project

ESA funds Space2CLIMB Project
ESA funds Space2CLIMB Project. Credit: GlobalTrust

Ibadan, 17 April 2024. – The European Space Agency (ESA) has awarded funding to the Space2CLIMB project that seeks to explore the feasibility of a product that will support the financial services sector through innovative biodiversity analytics. Led by GlobalTrust, in collaboration with Ecogain, Space2CLIMB looks 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 that is specific to and for the financial sector. By integrating GlobalTrust’s proficiency in EO data analytics with Ecogain’s deep understanding of biodiversity, the project seeks to deliver actionable intelligence that empowers financial institutions to make informed decisions to mitigate risks and support the green transition.

Furthermore, 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, optimizing portfolio management strategies, and identifying opportunities for sustainable financing. In addition, by providing real-time biodiversity insights 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.

Speaking on the collaboration, Dr Hilton, CEO of GlobalTrust, said, “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.” The CEO also added, “Space2CLIMB’s goal is to bridge the gap between biodiversity conservation and financial decision-making. It provides a unique opportunity for 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.”

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