Planet and Laconic collaborate to advance AI-driven forest carbon monitoring for carbon credit markets

Planet and Laconic collaborate to advance AI-driven forest carbon monitoring for carbon credit markets
by Clarence Oxford
Los Angeles CA (SPX) Dec 06, 2024

Planet Labs PBC (NYSE: PL), a global leader in Earth data and insights, has entered into a multi-year partnership with Laconic, a company reshaping climate finance. The seven-figure agreement will provide Laconic with Planet's advanced Forest Carbon Monitoring products, including high-resolution data that enables AI-driven insights for forest carbon analysis and carbon credit trading.

Under the three-year deal, Laconic will utilize Planet's 3-meter Forest Carbon Monitoring product alongside its 30-meter counterpart. These tools will feed into Laconic's SADAR Natural Capital Monetization platform, which integrates structured data, real-time tracking, and AI-powered verification to facilitate efficient trading of carbon securities in global markets.

By incorporating Planet's satellite-derived geospatial data, Laconic aims to provide its customers with precise trends, predictive insights, and robust analytics that empower informed decisions and boost confidence in the carbon trading space.

"Planet's Forest Carbon products give us a best-in-class data layer from which we can extract critical insights for our customers," said Andrew Gilmour, Laconic's CEO. "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 Forest Carbon Monitoring product, launched recently, offers quarterly global datasets estimating aboveground carbon, canopy height, and cover at a remarkable 3-meter resolution. The system provides standardized and actionable information for businesses, governments, and NGOs working on voluntary carbon markets, regulatory compliance, and deforestation mitigation. Its 30-meter Forest Carbon Diligence product complements this by delivering historical data on global aboveground carbon since 2013.

"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 Will Marshall, CEO of Planet. "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 is poised to advance the global carbon credit market by fostering a reliable, data-driven system for generating and trading sovereign carbon assets. Combining Planet's unique Forest Carbon insights with Laconic's expertise, the collaboration aims to redefine how natural capital is valued and traded, supporting sustainability-oriented financial strategies worldwide.