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

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.

The two-day workshop, focused on improving disaster risk reduction using satellite data and remote sensing technology, is a collaboration between the EU Delegation to the Philippines and the Department of National Defense under EU’s Copernicus program.

Copernicus, EU’s Earth observation program, uses a network of European satellites and ground stations to collect real-time information about what’s happening on the planet—from extreme weather and climate change to environmental shifts like deforestation and water levels.

This data is free and publicly available, and helps countries like the Philippines strengthen their disaster preparedness and response systems.

The workshop followed after EU established the first-ever Copernicus data center in Southeast Asia—in the Philippines.

This local center makes it faster and easier for Philippine agencies to access and use satellite data that’s crucial for monitoring typhoons, floods, earthquakes, droughts, and more.

As one of the most disaster-prone countries in the world, the Philippines faces frequent typhoons, floods, earthquakes, and volcanic eruptions. With climate change making these events more intense and unpredictable, access to accurate and timely information can save lives and reduce damage.

By working closely with European experts, Philippine agencies—including the Department of Science and Technology, the Philippine Space Agency (PhilSA), the Department of Environment and Natural Resources, and the Climate Change Commission—are learning how to better use satellite images and data to issue early warnings, plan evacuations, and coordinate disaster response.

Key speakers like DOST Secretary Renato Solidum Jr., PhilSA Director General Joel Joseph Marciano, and Climate Change Commission Secretary Robert Borje outlined the major challenges the Philippines faces: limited coordination among agencies, the need for better infrastructure and equipment, and making sure Earth observation data is actually used by decision-makers on the ground.

Through sessions led by EU experts, participants are also learning how Copernicus tools—like the Emergency Management Service, which can map disasters within hours—can be adapted to the Philippine context. These tools have already been used in Europe and other regions to respond to floods, forest fires, and droughts.

For the EU, this collaboration is part of its Global Gateway strategy, which aims to invest in green and digital infrastructure worldwide. Helping partner countries like the Philippines become more resilient to climate change is both a humanitarian goal and a strategic priority. It shows how Europe can contribute global expertise while also strengthening ties in the Indo-Pacific region.

Not a one-off event, the workshop part of a longer-term effort to build up the Philippines’ ability to use space technology for disaster management. This includes training more local experts, ensuring long-term support for satellite-based systems, and making sure different government agencies work together effectively.

As EU Ambassador Massimo Santoro said, “Earth monitoring is more vital than ever, especially for a disaster-prone country like the Philippines. This workshop is a chance for Europe and the Philippines to learn from each other and strengthen our joint resilience to climate change.”