摩根士丹利-绘制变暖世界地图：气候与地理空间智能的兴起 Mapping a Warming World The Rise of Climate and Geospatial Intelligence

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INSIGHTS

TheAuthors

GeorgieBourne

VicePresident

LucyBeauvallet

VicePresident

MappingaWarming

World:TheRiseof

Climateand

GeospatialIntelligence

VictoriaBorodina

Principal

28SEPTEMBER2026

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KeyTakeaways:

Physicalclimateriskisgrowinginfinancialmateriality,

withextremeeventsincreasinglytranslatingintobalance-sheetimpacts

Anewgeospatialintelligencelayerisformingacross

satellites,sensors,andmodels-butasdataandforecastsareincreasinglycommoditized,durableadvantage

anchorsoncollectingandmaintaininghard-to-replicateproprietarydatasets

Datacreatesvaluewhereitdrivesdecisions-embeddedintocustomerworkflowsandtiedtoquantifiableROI

Demandisbroadeningwellbeyondinsurersandutilities-wideningtheaddressablemarketacrossfinancial

services,corporates,realestate,agriculture,andthepublicsector

Physicalclimateriskisnowabalance-sheetissue:natural

catastrophescausedroughly$220billionineconomiclossesin2025,lessthanhalfofitinsured.Anewintelligencelayerisformingacrosssatellites,sensors,andclimatemodels,but

fallinghardwarecosts,alongsidetheproliferationofpublicandopen-sourcedatasets,arecommoditisinggenericdataandforecasts.1GTarguesdurableadvantagewillsitwithcompaniesthatpairhard-to-replicateproprietarydatawithdifferentiatedmodelsandembedtheoutputintocustomer

workflowswithmeasurableReturnonInvestment(ROI).Toexplorefurther,pleasereadthefull-lengthinsighthere:

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Today'sPortfolio

Georgie

Bourne

VicePresident

Lucy

Beauvallet

VicePresident

Victoria

Borodina

Principal

FeaturedInsights

ARTICLE

CARON’SCORNER

ARTICLE

BIGPICTURE

Mappinga

HigherYieldsArea

WhyPrivate

MappingEurope's

WarmingWorld:

Headwind,Nota

Equity?ACore

Barbell

TheRiseofClimat…

StopSign

GrowthEnginein…

Europeisundergoingits

Physicalclimateriskis

Higheryieldsdon’thave

Privateequityisoneof

mostsignificant

nowabalance-sheet

toendtheriskrally,

themainwaysinvestors

economicpolicyshift

issue:2025natural

becausewhyyieldsare

gainexposureto

sincethecreationofthe

catastrophescaused

risingmatters.The

privatelyheld

euro.Afterdecadesin…

~$220bnineconomic…

strongercashflows…

companies.Ithas…

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