The economic and environmental benefits of earth observation data

Earth observation (EO) data has the potential to eliminate 2 gigatonnes of greenhouse gas emissions every year and drive more than $3 trillion in cumulative economic benefits globally by 2030, according to a report.

This report by World Economic Forum and Deloitte highlights the exponential growth in satellite technology and its applications across various sectors, including disaster response and renewable energy.

It quantifies the economic and environmental benefits and details concrete use cases creating value for both businesses and the planet and finds that a greater global adoption of key technologies – including AI, digital models and climate technology – can unlock sustainable, innovative climate and nature solutions.

Driving sustainable value

Amplifying the Global Value of Earth Observation integrates perspectives of a group of 40 industry, technology and climate leaders committed to driving sustainable value through EO applications. The report breaks down the economic potential of EO technologies across sectors and shows how increasing their adoption worldwide could propel the shift to a nature-positive and net-zero global economy.

Although the promise of these technologies is wide-ranging, increasing their adoption across sectors and geographies is not without challenges, unveils the report. Barriers include limited awareness of EO applications, a shortage of specialised talent, fragmented standards, and difficulty navigating the complex EO marketplace – all of which can result in limiting uptake of this technology globally.

“As EO data approaches mainstream accessibility, organisations across nearly all industries stand to benefit from these valuable sustainability insights”

WEF and Deloitte said informed, forward-thinking policy-making and leadership will be crucial to unlock and maximise the transformative economic and environmental opportunities EO presents. Collaborative action across the value chain – which focuses on stimulating demand, advancing the use of AI and other enabling technologies and establishing key standards needed to make Earth data ubiquitous – will be critical to drive sustainable economic growth and benefit the planet for generations to come.

“Earth observation is a vital component of the Fourth Industrial Revolution,” said Jeremy Jurgens, managing director and head of the Centre for the Fourth Industrial Revolution at the World Economic Forum. “It converges with artificial intelligence, digital twins and climate technology to offer a powerful toolset for economic prosperity and sustainable growth.”