BSP-PhilSA memorandum of agreement Archives - THEPHILBIZNEWS https://thephilbiznews.com/tag/bsp-philsa-memorandum-of-agreement/ Delivering Stories of Progress Tue, 17 Feb 2026 01:33:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://thephilbiznews.com/wordpress/wp-content/uploads/2022/02/favicon.png BSP-PhilSA memorandum of agreement Archives - THEPHILBIZNEWS https://thephilbiznews.com/tag/bsp-philsa-memorandum-of-agreement/ 32 32 BSP taps PhilSA satellites to track climate risks https://thephilbiznews.com/2026/02/17/bsp-taps-philsa-satellites-to-track-climate-risks/?utm_source=rss&utm_medium=rss&utm_campaign=bsp-taps-philsa-satellites-to-track-climate-risks Tue, 17 Feb 2026 09:19:00 +0000 https://thephilbiznews.com/?p=69831 The Bangko Sentral ng Pilipinas (BSP) and the Philippine Space Agency (PhilSA) signed a memorandum of agreement (MOA) on January 27, 2026 to use satellite technology in assessing climate and environmental risks.

The partnership aims to help strengthen financial stability, sustainability, and resilience, according to a BSP news release dated February 12.

File photo of BSP Head Office in Manila. (Photo courtesy of BSP)

Under the MOA, the BSP will gain access to PhilSA’s satellite imagery and related datasets to help identify areas vulnerable to climate-related hazards and assess their potential impact on communities and economic activity. These insights can support monetary policy, financial supervision, and sustainability initiatives.

According to BSP Assistant Governor Pia Bernadette R. Tayag, “The MOA reflects how we view resilience-building in the financial system. It requires good governance, strong coordination, and better data — supported by technology that helps institutions act earlier and smarter. This innovation improves preparedness across the economy and the financial sector

Meanwhile, PhilSA Director General Dr. Gay Jane P. Perez underscored that “space science and banking may appear to operate in different domains, yet both are ultimately concerned with stability.” She said the MOA highlights BSP’s and PhilSA’s shared commitment to managing climate risks.

Beyond data sharing, BSP and PhilSA will also collaborate on developing tools, conducting research, and strengthening capacity to promote the responsible use of satellite data and geospatial analytics in support of their respective mandates.

Geospatial analytics refers to the use of location-based data to better understand conditions on the ground and support more informed decision-making.

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