Planet Partners with Laconic to Deliver AI-Powered Forest Carbon Insights, Aiming to Enable Informed Carbon Credit Trading
Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, announced that they have signed a multi-year, seven-figure deal with Laconic, a company leading a global shift in climate finance, empowering governments to monetize natural carbon assets through its Sovereign Carbon securitization platform. For the next three years, Laconic will be receiving both Planet’s 3 meter Forest Carbon Monitoring product and its 30 meter Forest Carbon product.
Laconic operates the data management and interchange platform, SADAR Natural Capital Monetization, which provides the structured data, real-time tracking, and AI-powered verification required for carbon securities to trade efficiently in the global market. With Planet’s satellite-data derived Forest Carbon products, Laconic will receive AI-powered forest carbon insights from around the globe. With these novel geospatial data feeds, Laconic will offer their customers accurate trends, correlations, and predictions to instill trusted trading confidence and empower informed decision-making in the carbon market.
“Planet’s Forest Carbon products give us a best-in-class data layer from which we can extract critical insights for our customers,” said Laconic CEO Andrew Gilmour. “The scope of their product is exceptional. Nowhere else could we get trusted forest carbon data at this high of a cadence or resolution.”
Planet’s recently launched Forest Carbon Monitoring product provides a quarterly dataset estimating aboveground carbon, canopy height, and cover over the entire Earth at 3 meter resolution, dating back to 2021. As the world’s first global scale forest monitoring system at such a high resolution, this product aims to offer a common standardized operating system for businesses, governments, and NGOs looking to support voluntary carbon markets, regulatory compliance, and deforestation mitigation. Planet’s Forest Carbon Diligence product offers a robust archive of global aboveground carbon data at 30 meter resolution dating back to 2013, helping to inform forest change over time.
“It’s time for the world to start valuing trees alive and standing, and putting carbon onto our balance sheets. The technology is here to capture it, and the data is here to validate it,” said Planet CEO Will Marshall. “We are very happy about this partnership with Laconic. By getting our Forest Carbon data into their expert hands, we’re excited to see how governments and investors start to make informed carbon trading decisions – changing how we see and value our essential global forests.”
This partnership aims to support a trusted, data-rich system that entities around the world can rely on for the generation and trading of sovereign carbon, a financial asset that is generated by a nation through the reduction of deforestation in their rainforests. With Planet’s unique Forest Carbon data and insights and Laconic’s platform and industry expertise, these two entities look forward to generating new forms of valuing natural capital and sustainability-oriented markets.