The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) signed a memorandum of agreement with the Philippine Space Agency (PhilSA) to use satellite technology to strengthen the BSP’s assessment of climate and environmental risks, with the aim of supporting financial stability. Under the agreement, the BSP will access PhilSA’s satellite imagery and related datasets to identify areas vulnerable to climate-related hazards and evaluate potential impacts on communities and economic activity, with outputs intended to inform monetary policy, financial supervision and sustainability initiatives. The cooperation also covers joint development of tools, research and capacity-building to support the responsible use of satellite data and geospatial analytics in line with each institution’s mandate.
Central Bank of the Philippines 2026-02-11
Central Bank of the Philippines and Philippine Space Agency sign agreement to use satellite data for climate risk assessment
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) has partnered with the Philippine Space Agency (PhilSA) to utilize satellite technology for assessing climate and environmental risks to bolster financial stability. This collaboration includes access to satellite imagery, joint tool development, and research to inform monetary policy and financial supervision.