IBM has partnered with WWF Germany to leverage AI-driven spatial capturing technology aimed at improving elephant tracking across Africa. This innovative approach is anticipated to bolster conservation efforts for African elephants, which play a vital role in enhancing carbon storage within their forest ecosystems.
The convergence of natural capital and advanced technology offers promising avenues for climate change mitigation and conservation initiatives, exemplified by the collaboration between IBM and WWF. The analytics employed to monitor the movements of African elephants can contribute significantly to the restoration of a critically endangered species that has been severely impacted by habitat loss due to deforestation and poaching. Moreover, this data can be instrumental in documenting carbon services.
Notably, research indicates that a single African elephant roaming in its natural environment can enhance the carbon capture capacity of the forest by nearly 250 acres, which in turn helps reduce carbon emissions. According to the International Monetary Fund (IMF), this initiative could yield a value of up to $1.75 million per elephant.
Dr. Thomas Breuer, the African forest elephant coordinator at WWF Germany, emphasized the challenges of accurately counting African forest elephants. “Counting these elephants is intricate and expensive. The logistics involved are complicated, and the resulting population figures often lack precision. Utilizing AI to identify individual elephants from camera trap images can be transformative. With AI, we can monitor specific animals across space and time, leading to more reliable population estimates and facilitating performance-based conservation payments, such as wildlife credits. The spatial data will also help us understand their movement patterns, allowing us to safeguard crucial wildlife corridors,” he explained.
Additionally, Finextra’s annual Sustainable Finance Live conference is set to take place on October 8, 2024, in London, with a dedicated focus on biodiversity and natural capital. Attendees can expect a comprehensive agenda featuring panel discussions, keynote speeches, workshops, and a hackathon, alongside numerous opportunities for networking with industry leaders.
To discover the latest developments in the sustainable finance sector, consider joining us at Finextra’s Sustainable Finance Live conference on October 8, 2024.