Open-Earth-Monitor Global Workshop 2025

The risks of climate change impacting the private sector is a dire reality for any community, anywhere, considered at a larger or smaller scale (local, national, regional) and at all of its different levels, be it with respect to the public sector, the private sector and down to every citizen. Consequences of such impacts are already discernible, especially in the case of the (re)insurance industry, also due to the immediate catastrophic consequences that, more and more often, involve human losses as well. Given the fundamental characteristic of the private sector - making a profit - overall results of extensive internal analysis of the financial impact of extreme weather events have been made public by various reinsurance companies. Furthermore, there is a significant body of knowledge to define, characterize and monitor climate change risks with consideration to the financial impact towards different sectors of the markets and, as well, proposed mitigation measures and resilience building strategies. In these endeavours, the geospatial component, encompassing data, technology, methodologies, are essential.

In this talk, the authors propose a simplified methodology dedicated to the use of the generated OpenEarthMonitor Cyberinfrastructure geospatial products relevant for assessing the risk for the European private sector, with an emphasis on the reinsurance sector.
The work presented will also pinpoint on the difficulties that arise from the complexity of accurately defining the geographical extent of the impact chain, as well as for the geographic footprint of the particular assets to be analysed. For interoperability reasons, in the assessment the Global Exposure Database for All schema will be considered because it is aligned with the Risk Data Hub as well as with the OpenStreetMap tags, both datasets being considered in the simplified methodology.