Firms join forces to drive transparency on sustainability issues facing financial markets, leveraging high-cadence geospatial data
SAN FRANCISCO — (BUSINESS WIRE) — April 19, 2022 — Planet, a leading provider of daily data and insights about Earth, and Moody’s, a leading global integrated risk assessment firm serving financial markets, announced today that they have entered into an agreement to explore and address the growing demand for assessing and monitoring solutions on Environmental, Social, and Governance (ESG) risks.
The companies will look to address how Planet’s high-cadence geospatial data and Moody’s market-leading entity data, methodologies, and products can be leveraged to further refine Moody’s existing offerings spanning ESG, Know-Your-Customer (KYC), supply chain and commercial real estate through real-time, on-the ground insights.
Planet’s relationship with a global financial firm is a landmark deal for the company, advancing a critical use case of satellite data for ESG measurement. As companies and governments face unprecedented risks due to climate change, new and holistic reporting metrics to evaluate these risks and sustainable opportunities of this century are critical to providing information for investors, regulators, and the public. There is growing demand for such measurements in reporting standards worldwide as ESG reporting is moving from a niche to a necessity amid a growing focus on sustainability and ESG performance measurement from regulators that impacts companies and financial market participants.
“Organizations are managing a growing range of sustainability-related demands and risks, from climate change to nature and species loss, diversity, equity and inclusion, and responsible supply chain management,” said Andrea Blackman, Managing Director - Global Head of Moody's ESG Solutions. “Our customers are looking for data and insights to help them verify information, decode risk related to environmental and social impact, and unlock opportunities. Satellite data can provide additional insights to identify property and location intelligence, validate claims and measure impact. Planet’s daily, global dataset and capabilities will uniquely complement our own comprehensive suite of products and solutions that inform more sustainable decisions and help advance a more resilient future.”
"It is critical that governments and financial markets begin to value the environment and natural resources both for the long term wellbeing of life on Earth, but also the success of the global economy," said Will Marshall, Planet’s co-founder and CEO. "We are excited to be working with Moody’s, who has the access, business, and reputation to lead the financial markets toward a more sustainable future, to accelerate our transition to a sustainable economy."
Planet’s unique data provides consistent, global, and timely information that can transform the growing ESG evaluation market. Merging Planet’s earth observation capabilities and abundant volumes of data into ESG analytics can establish standardized and scientifically-informed metrics, building baselines for a sustainable future. Critical to Planet’s work in this field is the ability to provide fair, accessible, and transparent information to enable powerful decision-making for businesses, governments, and organizations worldwide.
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, capturing over 30 TB of data per day. Planet provides mission-critical data, advanced insights, and software solutions to over 700 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 trading on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on Twitter.
About Moody’s
As a global integrated risk assessment firm, Moody’s empowers organizations to make better decisions. The firm’s ESG product portfolio spans across credit, ESG, sustainable finance, as well as climate risk solutions, measurements, and insights. Moody’s commercial real estate (CRE) solutions leverage the firm’s expansive data and analytics to streamline workflows and surface actionable insights for CRE lenders, investors, and brokers. Moody’s Know-Your-Customer (KYC) offering combines data, software, and analytical insights to help market participants gain a deeper understanding of the risks and opportunities associated with the individuals and companies they do business with.
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 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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Planet Labs PBC
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