Earth observation and geospatial analytic services provided by ST Engineering, including ST Engineering Geo-Insights and EY Corporate Advisors. In order to address urgent environmental concerns, EY announced the signing of a memorandum of cooperation (MOU) in the fields of space technology and geospatial analytics.
In accordance with the MOU, both parties will investigate the use of geospatial data to jointly develop sustainability roadmaps and establish a working group for the development of joint sustainability products. The working group will concentrate on five main areas: deforestation; water quality and management; compliance with the requirements of the Taskforce on Climate-Related Financial Disclosures or the Taskforce on Nature-related Financial Disclosures; carbon accounting; and baselining environmental impacts.
The parties will also look into jointly creating a geospatial platform that incorporates the capabilities of ST Engineering Geo-Insights into EY’s current infrastructure resilience offerings, which concentrate on pipelines, powerlines, trains, roads, and water utilities.
“In today’s interconnected world, geospatial analysis plays an increasingly vital role across various sectors and industries, spanning from urban planning, disaster response, to environmental conservation,” stated Mr. Goh Ing Nam, General Manager of ST Engineering Geo-Insights. Because of our extensive experience using earth observation data and doing geospatial analysis, we are able to offer insightful recommendations and practical solutions that promote change and create a more sustainable future for future generations. Our partnership with EY is a demonstration of our complementary skills and resources working together to create a more sustainable world.
“We are excited to work with ST Engineering Geo-Insights and combine its technological capabilities with our deep business and domain knowledge across a wide breadth of industries, giving a unique view of the problems that governments and businesses in the region face,” stated Mr. Liew Nam Soon, EY Asean Regional Managing Partner and Ernst & Young Solutions LLP’s Singapore Country Managing Partner.” We firmly believe that space technology has the potential to revolutionize the workplace. We can gain new insights into our natural habitat, the built environment, behavioural patterns, and opportunities for critical infrastructure optimization through space technology and analytics. With this knowledge, we can make more informed decisions to reduce risks or create value for businesses, governments, and the general public.”
Both parties have made investments in innovation to support this initiative. In order to help clients receive earth observation analysis and services through the EY Space for Earth Platform, which is being developed by a multidisciplinary team of data scientists, technologists, geospatial and product management experts, EY has developed EY Space Tech, which combines satellite imagery and artificial intelligence (AI).
