BSP, PhilSA sign MOA using satellites to assess risk

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Space Agency (PhilSA) signed a memorandum of agreement on Jan. 27, 2026, to use satellite technology to assess climate and environmental risks, a move aimed at strengthening financial stability, sustainability, and resilience.

Under the agreement, BSP will access PhilSA satellite imagery and other datasets to identify areas vulnerable to climate-related hazards and evaluate potential impacts on communities and economic activity.

BSP said the insights may help inform monetary policy, financial supervision, and sustainability initiatives as climate risks increasingly affect inflation, supply chains, asset values, and overall economic performance.

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.”

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

Beyond data sharing, BSP and PhilSA said they will collaborate on tools, research, and capacity-building to promote the responsible use of satellite data and geospatial analytics in support of their respective mandates.