Copernicus as a source for open data to monitor climate-related risks
and use cases
The European Union’s Earth Observation (EO) Programme (Copernicus
[https://www.copernicus.eu/en]) was launched to monitor our planet and
its environment from space. Here, environment related climate risks
not only have a major impact on people’s lives, but also on
industries.  One of the most affected industries is finance. If
climate-related risks are not properly understood, they can lead to
incorrect asset valuation, which can lead to capital misallocation
and, in the worst-case scenario, global financial instability.

IN 2021, THE EO DATA GENERATED REVENUE OF €145 MILLION FROM CLIENTS
IN THE FINANCE AND INSURANCE SECTORS. BY 2031, THIS IS EXPECTED TO
EXPERIENCE TREMENDOUS GROWTH AND REACH A TOTAL REVENUE OF €994
MILLION.

The EO addresses the need for data in finance with its vast open and
reliable data source. The Copernicus data can be used for commodity
trading, monitoring crop acreage, estimating yield, developing price
projections, and informing trading decisions. Products and services
based on this data combined with powerful analytics can measure,
monitor, and report environmental impacts.

For instance, companies such as Climate Scale
[https://www.climatescale.com/] leverage the services of the programme
like Copernicus Climate Change Service (C3S) data. They do so to
provide high-resolution climate projections to help stakeholders
evaluate the risks and opportunities of climate change along with
climate-proofing their assets and operations. Climate Scale provides
further post-processing of the broad-scale data through downscaling
and thus making it more relevant to its end-users. They translate
climate-related metrics into physical risks to plan adaptation
measures.

Copernicus caters to climate-related analyses with its quality and
reliable open data from Europe and the rest of the globe and PROTECTS
SOCIETY BY PROVIDING SUPPORT TO THE ECONOMY. Find “Copernicus” –
data.europa.eu
[https://data.europa.eu/data/datasets?locale=en&minScoring=0&query=copernicus&page=1]
on data.europa.eu which is the single point of access to European open
data with an extensive source of 1.5 million datasets on diverse
topics. 

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Publication Date/Time
2023-01-13T10:30:32+00:00
Discover the opportunities for Copernicus to support the finance
sector with open data