Additionally, both parties will explore co-developing a geospatial platform, integrating ST Engineering Geo-Insights capabilities into EYs existing infrastructure resilience services.
ST Engineering Geo-Insights and EY Corporate Advisors have entered a memorandum of understanding (MOU) to leverage space technology and geospatial analytics in addressing pressing environmental issues.
The partnership aims to utilise geospatial data to co-develop sustainability roadmaps and establish a joint sustainability product development working group focusing on deforestation, water management and quality, compliance with financial disclosures, carbon accounting, and environmental impact assessment.
Furthermore, both entities will explore co-developing a geospatial platform, integrating ST Engineering Geo-Insights capabilities into EYs infrastructure resilience services covering rail, roads, water utilities, pipelines, and powerlines.
Commenting on the deal, 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. Our relationship with EY represents an alignment of strengths and resources, dedicated to making meaningful contributions towards a healthier planet.
Liew Nam Soon, EY Asean Regional Managing Partner, also Singapore Country Managing Partner at Ernst & Young Solutions LLP, added: 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 face in the region. We are convinced that space tech can be a game-changer 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 behaviour 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.
Both parties have invested in innovation. EY has developed EY Space Tech, utilising satellite imagery and artificial intelligence to deliver earth observation analysis through the EY Space for Earth Platform. ST Engineering Geo-Insights offers analytics and value-added services based on satellite imagery, integrating optical and synthetic aperture radar data for diverse applications like urban planning, disaster monitoring, and environmental monitoring.
