Post by account_disabled on Feb 14, 2024 2:38:50 GMT -5
It is increasingly clear that climate change , sea level rise, changes in precipitation patterns, among others, represent a threat to the stability of the global economy, but despite the evidence, the financial sector has not yet made enough progress in the actions necessary to mitigate the impacts of climate change, according to Green Biz . To accelerate this progress, Andrew Zolli, chief impact officer at Planet Labs, a leading global provider of daily satellite imagery and geospatial solutions, highlighted the need to harness the power of technological developments such as artificial intelligence (AI) during the GreenFin conference. 22 on climate finance held last week in New York. Harnessing the potential of technology to address climate change In his keynote on “Data and AI in the Age of Radical Transparency,” Zolli explained how satellite-based data collection and AI-based data analysis are advancing. Hundreds of bread-sized satellites collect data from all corners of the planet, generating images of the entire Earth's surface at a resolution of approximately 3 meters per pixel each day. According to Zolli, this high quality of data allows global capital markets to take into account short- and long-term climate risks and opportunities. From capturing the intrinsic value of the services nature provides to identifying harmful actors to avoid working with, AI can improve the climate resilience of investment decisions. «What interests us is change, because this allows us to see every field, every forest, every facility, everywhere, every day. “When you extract, using machine learning and computer vision tools, these essential patterns, you can see all kinds of things on Earth.
Andrew Zolli, chief impact officer at Planet Labs. Disconnection between financial value and natural ecosystems Zolli pointed out a deficiency in the way the financial sector currently values ecosystems before converting parts of them into assets. The basic premise that nature is hyperabundant and self-sufficient has led to a Honduras Phone Number List strange situation where companies like Amazon are measured to the thousandth of a cent while the real Amazon has no intrinsic economic value until the trees are cut down and become productive assets. The statement highlights the disconnect between the financial valuation of companies and the valuation of natural ecosystems. While companies are constantly evaluated in terms of their market value, natural resources are often not recognized economically until they are extracted or used for production. AI drives financial sector towards climate solutions Organizations like Planet Labs are using technology to address this problem. With satellite imagery, they can map the full scale of natural capital not only in the Amazon but around the world.
They can extract essential data on planetary variables, such as the location of water, carbon, biodiversity, biomass, agriculture and infrastructure. This data can be integrated into the financial system as “widely shared sources of truth across the sector,” according to Zolli. Integrating this data would allow financial institutions to make informed decisions about the value of nature and long-term climate risks. Powerful information provides financial institutions with various decision-making capabilities. For example, Planet Labs can identify methane emissions at the facility level in real time. This allows investors and regulators to know the emissions associated with their investments, which could require the sale of assets that exceed emissions limits or pressure facility managers to reduce emissions. “We can accurately identify whether the emissions are coming from a livestock processing plant, a landfill, or an oil and gas facility.” Andrew Zolli, chief impact officer at Planet Labs. AI drives financial sector towards climate solutions AI and finance in the face of climate change Zolli is optimistic about uniting two of the world's most powerful industries, AI technology and finance, to drive progress in the fight against climate change. Unprecedented transparency in global capital markets has great potential to transform the way both sectors approach climate action. “Now is the time for technology and finance, the two big systems drivers, to come together and do this kind of work,” Zolli said.
Andrew Zolli, chief impact officer at Planet Labs. Disconnection between financial value and natural ecosystems Zolli pointed out a deficiency in the way the financial sector currently values ecosystems before converting parts of them into assets. The basic premise that nature is hyperabundant and self-sufficient has led to a Honduras Phone Number List strange situation where companies like Amazon are measured to the thousandth of a cent while the real Amazon has no intrinsic economic value until the trees are cut down and become productive assets. The statement highlights the disconnect between the financial valuation of companies and the valuation of natural ecosystems. While companies are constantly evaluated in terms of their market value, natural resources are often not recognized economically until they are extracted or used for production. AI drives financial sector towards climate solutions Organizations like Planet Labs are using technology to address this problem. With satellite imagery, they can map the full scale of natural capital not only in the Amazon but around the world.
They can extract essential data on planetary variables, such as the location of water, carbon, biodiversity, biomass, agriculture and infrastructure. This data can be integrated into the financial system as “widely shared sources of truth across the sector,” according to Zolli. Integrating this data would allow financial institutions to make informed decisions about the value of nature and long-term climate risks. Powerful information provides financial institutions with various decision-making capabilities. For example, Planet Labs can identify methane emissions at the facility level in real time. This allows investors and regulators to know the emissions associated with their investments, which could require the sale of assets that exceed emissions limits or pressure facility managers to reduce emissions. “We can accurately identify whether the emissions are coming from a livestock processing plant, a landfill, or an oil and gas facility.” Andrew Zolli, chief impact officer at Planet Labs. AI drives financial sector towards climate solutions AI and finance in the face of climate change Zolli is optimistic about uniting two of the world's most powerful industries, AI technology and finance, to drive progress in the fight against climate change. Unprecedented transparency in global capital markets has great potential to transform the way both sectors approach climate action. “Now is the time for technology and finance, the two big systems drivers, to come together and do this kind of work,” Zolli said.