Climate Data: Who's Really Paying the Price?

Private companies are stepping up to fill the gap left by the U. S. government's reduced investment in climate science. This shift is creating a boom in the earth intelligence sector, with businesses like Climate X and GHGSat leading the charge. Climate X, a London-based data analytics firm, recently helped a real estate manager assess climate risks for hundreds of properties across Europe and Asia. The company uses AI and U. S. scientific data to model potential damages from extreme weather events. This kind of information is crucial for investors looking to mitigate risks and make informed decisions. The demand for private climate data is surging as climate change intensifies. The earth intelligence sector is expected to grow to $4. 2 billion by 2030, according to Gartner. This growth is driven by both the private sector's enthusiasm and the U. S. government's reduced support for science. However, this boom raises questions about accuracy and access. Private companies rely heavily on baseline data from U. S. government agencies like NOAA. Without this data, it's challenging to validate their models. As U. S. datasets become less accessible, companies like Climate X are turning to alternatives from the EU, Japan, and the UK Met Office. The private data boom is also reflected in the satellite monitoring industry. GHGSat, a Montreal-based company, recently raised $47 million to add more satellites to its constellation. These satellites help detect methane leaks, which can contribute to climate change and impact profits. While the private sector is stepping up, there are concerns about equity and access. Public companies like Planet Labs have seen significant growth, but smaller players may struggle to compete. Additionally, the shift towards private data could leave some communities vulnerable, as access to this information may come at a cost. Despite these challenges, the earth intelligence sector is poised for significant growth. Companies are not only focusing on profits but also on contributing to public benefit. For instance, Fugro is working with the U. N. to unlock marine data for public use. This collaboration could help small island nations protect themselves from sea-level rise. In conclusion, the private sector is playing an increasingly important role in climate data. While this shift presents opportunities for growth and innovation, it also raises critical questions about access, equity, and the role of government in supporting science.