The 21st century is the era of the climate tech industry.
As the climate crisis intensifies, the importance of climate data is increasing day by day. With growing societal interest in green energy production, carbon reduction, and sustainable development goals (SDGs), the need for data spans across all industries, not just academia. It is now a time when we all must consider how to utilize data effectively.
There are two main aspects to addressing climate change: adaptation and mitigation. First, in terms of adaptation, climate data is needed to seek solutions as climate-related disasters pose significant threats to human society. Secondly, from a mitigation perspective, climate data is essential for planning to reduce greenhouse gas emissions, the primary cause of climate change, and to increase the utilization rate of renewable energy.
Yong-Sang Choi
Professor, Department of Climate and Energy Systems Engineering, Ewha Womans University
– The Foundation of the Climate Tech Industry is People-Centric Data
From the people who initially produce data, to those who analyze and process it, to those who consume it, the purpose and knowledge sharing of data must be seamlessly connected like threading beads. Selecting data that aligns with the intended purpose takes precedence over the improvement of AI technology itself.
In the climate field, the purpose of data must always be centered on the user. In the past, data was primarily used for academic research or weather forecasting, but now it is also used for energy demand or financial loss calculations, reflecting a diversification of users. For example, in the recently discussed disaster insurance sector, when coastal buildings are used as collateral, data on sea level rise is needed to prove future flood risk projections. Just as technology is meaningful when used by people, data production must meet user satisfaction to increase data utilization and create socio-economic impact.
To maximize the effectiveness of data utilization, it is necessary to share purpose-appropriate data quickly and adopt a user-centered approach. Climate data plays a crucial role in policy formulation and implementation in industries, creating economic and social value across various fields.
– Dominating the Global Market with High-Quality Data
It is particularly important to emphasize that the climate data market is not limited to our country. There is global demand. Therefore, significant efforts are required to improve data quality. In the global market, ‘quality’ takes precedence over price when selecting data. This is why the competition among countries to create top-quality data is fierce.
The government has already been providing substantial support to private companies to enhance the business value of public data. However, further investment and strategic support are needed to target the global market. Producing world-class data that private companies can utilize as a business model is essential to expanding the industry’s scale.
