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Planet Labs and Moody's 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 offer Planet Labs and Moody's 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.
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