Extreme weather events, such as wildfires, floods, droughts, and heatwaves, can have profound financial impacts. They can cause substantial damage to property and infrastructure and can disrupt businesses leading to lost income and reduced productivity. In agriculture, extreme weather can devastate crops and livestock, resulting in higher food prices and reduced food security. Furthermore, they can necessitate substantial public spending on disaster response and recovery, which can strain government budgets and potentially lead to increases in taxes or public debt. In the long term, they can also depress economic growth and exacerbate social inequalities, as disadvantaged communities often bear the brunt of the impacts and have fewer resources to recover.
A critical part of any climate strategy is the implementation of early warning systems to identify where these events will impact critical pieces of infrastructure.
SpatiaFi's Extreme Event Monitoring package includes near-real time and forecast data across a range of extreme events such as flood, wildfire, drought, extreme heat and extreme cold. Through SpatiaFi, assets can be monitored for the current status of extreme events and the likelihood that they will be impacted in the short term. Depending on the variable, forecasts can go from 1-90 days.