Planet Releases Forest Carbon Diligence Product
SAN FRANCISCO, November 07, 2023--(BUSINESS WIRE)--Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced the global availability of its Forest Carbon Diligence product. This global, 30 meter historical time series of forest carbon, as well as tree height and cover, is a groundbreaking data product that aims to provide unprecedented insights into forest change and carbon stocks - a crucial tool for ensuring accurate carbon accounting.
Traditional high-fidelity forest carbon estimates, such as those derived from field inventories or airborne lidar campaigns, are costly and impractical to scale globally. Planet’s Forest Carbon Diligence and its forthcoming Forest Carbon Monitoring product are designed to solve the challenges associated with these methods, bringing improvements in almost every aspect: resolution, accuracy, frequency, and scalability. Planet’s Forest Carbon Diligence is powered for scale by Planet’s PlanetScope data, and modeled and validated with LiDAR reference data, allowing users to evaluate historical trends, create dynamic project baselines, and quantify carbon stocks from small projects up to entire countries. These high quality, accessible, and globally consistent data on the changing state of the world’s forests are essential for jurisdictional and voluntary carbon monitoring programs around the world.
"This dataset brings to market a 10-year archive of forest carbon globally that’s highly accurate, affordable, and scalable, helping to solve long-standing challenges associated with measuring forest carbon stocks," says Planet co-founder and CEO Will Marshall. "This is especially important as new regulations push companies and countries across the world to balance their carbon books. The first step in meeting this challenge will be obtaining objective measurements, and with this capability Planet believes we can underpin global carbon markets – and thus help accelerate the world’s transition to a sustainable economy."
This product brings a globally complete dataset and transparent pricing that offers a cost-effective and scalable solution for carbon accounting worldwide. Already, Planet customers are finding significant value in this product. Dr Phil Platts, Director of Geospatial and Earth Observation at BeZero Carbon, a global carbon ratings agency and Planet customer, shared: "Planet's Forest Carbon datasets will be an invaluable addition to our cutting-edge geospatial analysis and methodologies. This 30 meter global time series of forest height, tree cover, and carbon will help customers continue to make more informed carbon credit investments."
To enable even deeper analysis and reporting, Planet plans to launch its global 3 meter resolution Forest Carbon Monitoring product in the calendar year 2024. Learn more about Planet’s 30 meter resolution Forest Carbon Diligence product, and the rest of its Planetary Variables suite of products, at its webpage.
About Planet
Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to over 900 customers, comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on Twitter.
Forward-looking Statements
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the Company’s ability to capture market opportunity and realize any of the potential benefits from current or future product enhancements, new products, or strategic partnerships and customer collaborations. Forward-looking statements are based on the Company’s management’s beliefs, as well as assumptions made by, and information currently available to them. Because such statements are based on expectations as to future events and results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to the risk factors and other disclosures about the Company and its business included in the Company's periodic reports, proxy statements, and other disclosure materials filed from time to time with the Securities and Exchange Commission (SEC) which are available online at www.sec.gov, and on the Company's website at www.planet.com. All forward-looking statements reflect the Company’s beliefs and assumptions only as of the date such statements are made. The Company undertakes no obligation to update forward-looking statements to reflect future events or circumstances.
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