Planet Unveils Pricing for Global Forest Carbon Dataset
August 15 2023 - 9:00AM
Business Wire
Planet Labs PBC (NYSE: PL), a leading provider of daily data and
insights about Earth, today announced plans to release its global
Forest Carbon Planetary Variable. This groundbreaking dataset aims
to provide unprecedented insights into forest change and carbon
capture at nearly the individual tree level. Built by leveraging
advanced deep learning models, Planet’s Forest Carbon product is
slated to provide exceptional resolution, accuracy, and frequency
to a variety of stakeholders in forested ecosystems - from
voluntary carbon market participants and service providers to
entities dependent on forests in their supply chains to
jurisdictions and regulators needing quality global insights into
changes in forest area and carbon stocks.
Planet’s Forest Carbon will set a new standard in remote sensing
solutions for forest and carbon monitoring. In the coming decades,
forest restoration, conservation, and improved management
activities represent massive opportunities for the more than 4
billion hectares of forested land on Earth. For these activities,
frequent and granular data are crucial tools to ensure successful
carbon monitoring and to limit fraud and other greenwashing
tactics. The launch of a Forest Carbon dataset provides Planet with
the opportunity to match the accuracy of physical or airborne
measurements at a fraction of the cost, everywhere on Earth, on a
quarterly basis. The company plans to launch a global 30 meter
resolution product this year, and intends to follow that launch
with a global 3 meter resolution product in calendar year 2024.
Planet believes in the transformative power of transparency with
a goal to ensure broad accessibility by making the pricing and
packaging of their Forest Carbon product affordable, competitive,
and straightforward, starting as low as $0.10 per hectare.
Delivering this product to market affordably and at scale will
ultimately allow Planet to minimize friction, drive trust, and
build validation with early adopters.
“Our Forest Carbon Planetary Variable represents a significant
leap forward in carbon monitoring capabilities, and we’re excited
to offer it at such an accessible price to empower organizations to
truly scale their understanding of forest change," said Kevin Weil,
President of Product and Business at Planet. “With its
high-resolution, accuracy, and frequency, Planet’s Forest Carbon
sets a new industry standard that will enable more informed
decision-making and drive effective climate action worldwide."
Key product highlights include:
- Comprehensive Product Suite. At its core, the Forest
Carbon product has three global data layers: Canopy Height (m),
Canopy Cover (%), and Aboveground Live Carbon (Mg/ha). Forest
Carbon is fueled by airborne-LiDAR trained deep learning models and
PlanetScope imagery. Planet employs this data to generate detailed
carbon data estimates in tons per hectare, empowering the processes
of measurement, reporting, and verification in carbon accounting
workflows.
- Unrivaled resolution. While existing remote sensing
solutions for Forest Carbon often fail to visualize individual
trees and subtle forest change at scale, Planet’s dataset excels at
precisely capturing them. Planet’s 3 meter resolution product will
enable stakeholders to monitor precise patterns of forest change
over time. The enhanced resolution of Planet’s Forest Carbon
dataset can help ensure that no significant changes go unnoticed,
and can replace or reduce dependency on costly, time-consuming, and
incomplete field measurements or airborne surveys.
- Pinpoint accuracy, quantitative uncertainty. Planet’s
Forest Carbon dataset leverages rigorous data transformation
techniques of the company’s trusted 3 meter resolution PlanetScope
imagery to maintain a high level of precision, while quantifying
all sources of uncertainty at the pixel-level. This methodology was
developed by Salo Sciences, a climate technology company acquired
by Planet earlier this year, and helps ensure users are receiving
reliable and dependable information.
- Quarterly updates. Dynamic systems demand dynamic
monitoring. Planet’s Forest Carbon dataset will be updated on a
quarterly basis and deliver the latest information on changes in
forest structure and associated carbon stocks. This frequent
monitoring allows stakeholders to stay informed about the latest
developments and be more effective in their decision-making
processes.
- Scalability. Forest Carbon is designed to offer
cost-effective, reliable, and global data for carbon monitoring
that alleviates some of the drawbacks associated with traditional
airborne and field-based methods, which are often too expensive to
scale and keep regularly updated. Further, it aims to eliminate the
need for additional data processing, making the product a practical
and scalable solution for organizations of all sizes and
capabilities.
Planet’s competitive and transparent Forest Carbon pricing aims
to drive greater action and value for its customers. For more
information about this product and Planet’s comprehensive suite of
Earth observation and data analytics solutions, please visit our
website.
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, Planet’s ability to capture market opportunity
and realize any of the potential benefits from current or future
product enhancements, new products, or strategic partnerships and
customer collaborations, the timing and success of current or
future product enhancements or new products, and the expected
accuracy, efficiency and cost-savings related to current or future
product enhancements or new products. Forward-looking statements
are based on Planet’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
Planet Labs PBC and its business included in Planet'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 Planet's website
at www.planet.com. All forward-looking statements reflect Planet’s
beliefs and assumptions only as of the date such statements are
made. Planet undertakes no obligation to update forward-looking
statements to reflect future events or circumstances.
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Sarah Bates press@planet.com
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