We are thrilled to announce that we have entered into an agreement with Moody’s, a leading global integrated risk assessment firm serving financial markets, to explore and address the growing demand for assessing and monitoring solutions on Environmental, Social, and Governance (ESG) risks.
Together, we will look to address how our 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.
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.
“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 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.”
Our unique data provides consistent, global, and timely information that can transform the growing ESG evaluation market. Merging our 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.
Except for the historical information contained herein, the matters set forth in this blog 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.