Planet has entered into an agreement with Moody’s, a leading, global, integrated risk assessment firm serving the financial markets, 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 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.
This relationship with a global financial firm is a landmark deal for Planet, leveraging satellite data for ESG measurement. As companies and governments face unprecedented risks due to climate change and political upheaval, new and holistic reporting metrics to evaluate the long-term 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.
Planet’s data provides consistent, global and timely information that can transform the growing ESG evaluation market. Merging the firm’s EO 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 as well as transparent information to enable powerful decision-making for businesses, governments, and organizations worldwide.
“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 well being of life on Earth, but also the success of the global economy,” said Planet CEO and co-founder, Will Marshall. “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.”
