Оригинален текст - Английски - Situation awareness about the catastrophe taking...

Is this gerundive to be considered as a conjugated verb?

CC: lilian canale

The gerundive is to signify that the catastrophe is not an event of the past event but is rather continuous and long-term.

Thanks for asking an important question

In this case, yes.
That's an ellipsis of "(which are) taking place"

I'll release it