On November 23, 2020 the World Bank organised a joint webinar with ESA on the latest technology supporting innovative risk financing solutions for climate shocks and other complex risks.
With climate change threatening our societies and economies and the current covid crisis highlighting the high complexity of global supply chain, satellite as well as big data have proven to be rich source of data to complement risk information. Indeed, it notably facilitates global coverage and it can better inform of the severity and extent of impacts and shocks.
This webinar discussed opportunities and challenges related to the use of these technologies in the context of disaster risk financing as producing the right, meaningful and timely information is not always straight-forward and there is sometimes a overwhelming quantity of data which can be hard to analyse. It justifies the need for data standards and interoperability as well as the use of open platforms that support these standards.
