Planet Labs PBC (NYSE: PL), a leading provider of daily data and
insights about Earth, today announced that as of December 2021, it
is officially a carbon neutral company as part of its commitment to
sustainability. Planet worked with SCS Global Services (SCS), an
organization specializing in third-party certification, validation,
and verification for environmental and sustainability quality
performance claims, to certify its operations as carbon neutral in
accordance with the internationally recognized PAS 2060: 2014
Carbon Neutrality Standard. This certification covers the entire
supply chain - from manufacturing and launching their satellites to
all aspects of its corporate operations - for the 2020 calendar
year.
“Planet’s mission is to help life on earth – and to fulfill that
mission, we are not only committed to accelerating the adoption of
sustainable practices globally, but embodying those practices in
our own operations,” said Andrew Zolli, Planet’s Chief Impact
Officer. “Using a rigorous, science-based approach, we are
committed to reducing our environmental impact wherever
possible.”
Planet’s direct and indirect GHG (greenhouse gas) emissions
(Scopes 1, 2 and relevant Scope 3) were calculated for several
categories, including Purchased Goods and Services, Capital Goods,
Fuel and Energy Related Activities, Business Travel, Employee
Commuting, Waste Generated, Downstream Transportation and
Distribution. This process was completed by SCS who evaluated
Planet’s GHG inventory in accordance with the WRI GHG Protocol, a
GHG assessment standard. The total 2020 GHG inventory for Planet
was 3,482 metric tons CO2e. SCS found that the main source category
of GHGs for Planet was Scope 3 (Purchased Goods and Services,
Business Travel) and Scope 2 (Purchased Electricity).
“We applaud Planet on their commitment to carbon neutrality and
the work they did to assess and verify their claim ultimately
earning carbon neutral certification for their company for 2020. It
was clear to us that their dedication to acting sustainably extends
across their entire company,” said Dave Jonas, SCS’ Program Manager
for Climate Consulting Services.
High-Quality Carbon Credits
To achieve carbon neutrality, Planet needed to purchase 3,482
tons of verified and retired carbon credits to fully neutralize the
total GHGs associated with its 2020 activities. These were
purchased through a custom portfolio of three high-quality REDD+
projects offered by Pachama, a technology company that harnesses
the latest advancements in satellite imagery, AI and remote sensing
to measure and monitor carbon stored in forests to help finance
conservation and reforestation. Pachama is also a customer of
Planet’s and uses the company's data to validate and monitor carbon
projects globally over time. The offsetting projects include
Agrocortex and Brazil Nut Concessions in the Amazon region, and
NIHT Topaiyo in Papua New Guinea.
“We're grateful to work closely with Planet, a leader in
high-frequency satellite imagery. We have a valuable partnership in
which Pachama leverages Planet's data to advance our work to
evaluate forest carbon projects, and Planet turns to Pachama to
neutralize their emissions with high-quality carbon credits,” said
Diego Saez Gil, CEO and co-founder of Pachama.
These credits were verified against the Verified Carbon Standard
(VCS), which guarantees that the credits purchased represent
genuine, additional GHG emission reductions. Purchasing these
credits also guarantees that they have been verified by an
independent third party, were only issued after the emissions
reductions had taken place, and were retired within 12 months from
the date of the declaration of this carbon neutrality
achievement.
On the Path to Becoming Net Zero
2020 was Planet’s application period, meaning carbon neutrality
could be achieved solely based on offsetting. Moving forward,
Planet will work towards demonstrating reductions in its emissions
in order to maintain its carbon neutral certification. 2020 was an
unusual year with the start of a pandemic three months into the
year and employees working from home for the remainder of the year.
Planet embraces this challenge in its Carbon Footprint Management
Plan (CFMP), which outlines targets for GHG reductions and details
the projects that Planet will implement over the next year to show
a GHG reduction on an absolute or intensity basis in order to
maintain its carbon neutral certification. For example, Planet
commits to reducing operational GHG emissions by utilizing
renewable energy options in leased offices, working with travel
partners that help reduce carbon emissions, streamlining their
shipping for purchased goods and services by reducing the number of
shipments and opting for ground transportation.
With 2022 underway, Planet aims to promptly evaluate and offset
its 2021 emissions so that it can begin devising a carbon reduction
plan that will provide substantial cuts in its emissions in
subsequent years in an effort to become a net zero company by 2030,
if not sooner. In doing so, Planet hopes to join other companies to
do their part to create a sustainable future. Planet’s mission to
help life on earth also extends across the world through
partnerships that look to find solutions for deforestation, advance
the Sustainable Development Goals, and enable corporate
sustainability and sustainable finance.
About Planet Labs PBC
Planet is a leading provider of global, daily satellite imagery
and geospatial solutions. Planet is driven by a mission to image
the world every day, and make change visible, accessible and
actionable. Founded in 2010 by three NASA scientists, Planet
designs, builds, and operates the largest Earth observation fleet
of imaging satellites, capturing and compiling data from over 3
million images per day. Planet provides mission-critical data,
advanced insights, and software solutions to over 700 customers,
comprising the world’s leading agriculture, forestry, intelligence,
education and finance companies and government agencies, enabling
users to simply and effectively derive unique value from satellite
imagery. Planet is a public benefit corporation trading on the New
York Stock Exchange as PL. To learn more visit www.planet.com and
follow us on Twitter.
About SCS Global Services
Founded in 1984, SCS Global Services is a global leader in
third-party environmental and sustainability verification,
certification, auditing, testing, and standards development. Its
programs span a cross-section of industries, recognizing
achievements in natural resource management, green building,
product manufacturing, food and agriculture, supply chains, climate
mitigation and more. Headquartered in Emeryville, California, SCS
has representatives and affiliate offices throughout the Americas,
Asia/Pacific, Europe and Africa. Its broad network of auditors are
experts in their fields, and the company is a trusted partner to
companies, agencies and advocacy organizations due to its
dedication to quality and professionalism. SCS is a chartered
Benefit Corporation, reflecting its commitment to socially and
environmentally responsible business practices. For more
information, visit www.scsglobalservices.com.
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 maintain its carbon neutral
certification, Planet’s ability to reduce its operational GHG
emissions and Planet’s ability to become a net zero company by
2030. 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 that might cause such differences include, but are not
limited to, a failure to achieve Planet's targets and commitments
related to climate and sustainability due to financial constraints,
lack of resources, lack of regulatory support or the inability to
find renewable energy options, and other risks described from time
to time in Planet’s filings with the Securities and Exchange
Commission (SEC), including factors described under the heading
“Risk Factors” in the Registration Statement on Form S-1 filed by
Planet with the SEC and any subsequent filings with the SEC Planet
may make. Copies of each filing may be obtained from Planet or the
SEC. Other unpredictable or unknown factors not discussed herein
could also have material adverse effects on forward-looking
statements. All forward-looking statements reflect Planet’s beliefs
and assumptions only as of the date of this press release. Planet
undertakes no obligation to update forward-looking statements to
reflect future events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20220201006220/en/
Investor Cleo Palmer-Poroner Planet Labs PBC
ir@planet.com
Press Claire Bentley Planet Labs PBC comms@planet.com
John Christiansen / Cassandra Bujarski Sard Verbinnen & Co
Planet-SVC@sardverb.com
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