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ST Engineering and EY sign MOU in Space Tech and Geospatial Analytics for Sustainability Causes

  • 19 Apr 2024

On 17 April 2024, ST Engineering Geo-Insights and EY Corporate Advisors signed a memorandum of understanding (MOU) to collaborate on using space technology and geospatial data for addressing environmental issues.

Both parties collaborating under the agreement will explore the use of geospatial data in developing sustainability roadmaps and creating a joint sustainability product development working group that will concentrate on five key areas: Deforestation; Water management and quality; Compliance with Taskforce on Nature-related Financial Disclosures or Task Force on Climate-Related Financial Disclosures requirements; Carbon accounting; and Baselining environmental impacts.

In a statement, Mr. Goh Ing Nam, General Manager of ST Engineering Geo-Insights said, “In today’s interconnected world, geospatial analysis plays an increasingly vital role across various sectors and industries, spanning urban planning, disaster response to environmental conservation. Our strong expertise in harnessing earth observation data and conducting geospatial analysis enables us to provide valuable insights and solutions to drive positive change and foster a more sustainable future for generations to come.”

The initiative will make use of innovations by both parties, including the EY Space Tech that combines satellite imagery and AI to provide earth observation analysis and services to clients via the EY Space for Earth Platform, as well as ST Engineering’s Geo-Insights technology, which offers analytics and value-added services based on satellite imagery to gather timely insights on various applications like urban planning, disaster monitoring, maritime safety and security, environmental monitoring, and agricultural growth tracking.

Signing the MOU are Mr. Low Jin Phang, President, Digital Systems of ST Engineering (left) and Mr. Liew Nam Soon, EY Asean and Singapore Regional Managing Partner (right). Photo: ST Engineering

Mr. Liew Nam Soon, EY ASEAN Regional Managing Partner mentioned, “We are convinced that space tech can be a gamechanger for a better working world. With space tech and analytics, we can derive newfound insights to better understand our natural habitat, the built environment, patterns of human behavior or optimisation opportunities for critical infrastructure, and make smarter decisions to mitigate risks or unlock new opportunities and value for governments, businesses and the broader society.”

With significant potential in various applications, space tech uses satellites, AI, and human intelligence to design and develop technologies for exploring beyond low earth orbit. Through collaborating with 5G, 3D printing, enhanced satellite systems, big data, and quantum computing, space technologies can help to enhance activities in space. Applications of space technologies include sustainability, environmental monitoring, social impacts, agriculture, as well as infrastructure and public transport development.

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