Planet Labs PBC a leading provider of global, daily satellite imagery and geospatial solutions announced that they have signed a multi-year, seven-figure deal with Laconic, a company leading a global shift in climate finance, empowering governments to monetize natural carbon assets through its Sovereign Carbon securitization platform.

In this deal, Laconic can use Planet’s 3-meter Forest Carbon Monitoring product and 30-meter Forest Carbon product for the next three years.

Laconic’s CEO Andrew Gilmour said,

“Planet’s Forest Carbon products give us a best-in-class data layer from which we can extract critical insights for our customers. The scope of their product is exceptional. Nowhere else could we get trusted forest carbon data at this high of a cadence or resolution.”

The partnership aims to establish a reliable, data-rich system for generating and trading sovereign carbon, a financial asset created by nations to reduce deforestation in their rainforests.

Planet’s Revolutionary Forest Carbon Monitoring System

Forests play a vital role in absorbing carbon dioxide, yet accurately estimating the carbon they store has always been challenging. Traditional methods like ground surveys, costly airborne missions, or inconsistent satellite data have some cons. They are either expensive or impractical on a large scale. Planet’s Forest Carbon Monitoring products address these challenges with advanced, scalable solutions.

What is Forest Carbon Monitoring?

Planet’s Forest Carbon Monitoring provides a global dataset offering detailed estimates of aboveground forest carbon, tree height, and canopy cover. It enables users to analyze every hectare of forest and woodland on Earth. This data uses advanced ML features to combine historical satellite imagery with laser-derived LiDAR data. This ensures high-level precision and scalability.

The system supports crucial activities like carbon project accounting, digital monitoring, reporting, and verification (MRV), reforestation efforts, and deforestation tracking. It can monitor the full range of forest changes ranging from massive wildfires to small agricultural clearings and minor deforestation.

Unique Features of Planet’s Forest Carbon Monitoring

Global Coverage at High Resolution: The 3-meter resolution dataset provides quarterly updates on aboveground carbon, canopy height, and cover across the entire Earth. Dating back to 2021, this is the first global monitoring system at such a high resolution.

Historical Archive: The Forest Carbon Diligence product offers global aboveground carbon data at a 30-meter resolution, covering changes since 2013. This historical archive is invaluable for understanding forest dynamics over time.

Advanced AI Integration: The product leverages Planet’s extensive satellite imagery and a global library of LiDAR data. AI processing ensures data accuracy and consistency, making it an affordable alternative without sacrificing scientific quality.

Source: Planet

Why It Matters?

The detailed, consistent data provided by Planet’s products is critical for voluntary carbon markets, regulatory compliance, and deforestation mitigation. Governments can use this system to establish accurate baselines for their forests and measure the success of their carbon sequestration policies. Notably, the system is aligned with the EU Deforestation Regulation (EUDR) that defines deforestation boundaries and highlights forest degradation and carbon loss.

The datasheet also provides critical insights for compliance and reporting. This means the data can be used to quantify deforestation with high accuracy. It will further allow stakeholders to track forest changes globally with unmatched precision and confidence.

Now that organizations can access this tool to monitor forest health, they can act effectively against climate change. Additionally, users can chart out impactful reforestation projects, track carbon credits, and contribute to global sustainability goals.

Interestingly, Planet’s Forest Carbon Planetary Variable can measure carbon stocks and forest area changes over time and accurately track losses and gains. The company believes this technique is far more affordable and globally accessible as compared to airborne approaches.

Planet’s CEO Will Marshall expressed his excitement about this partnership by saying,

“It’s time for the world to start valuing trees alive and standing, and putting carbon onto our balance sheets. The technology is here to capture it, and the data is here to validate it. We are very happy about this partnership with Laconic. By getting our Forest Carbon data into their expert hands, we’re excited to see how governments and investors start to make informed carbon trading decisions – changing how we see and value our essential global forests.”

• READ MORE: Laconic Works with Emsurge to Make Carbon Market More Efficient

Laconic’s Sovereign Carbon®: A New Frontier in Climate Finance

Laconic delivers high-end environmental intelligence and data management tools that drive transparency and fairness in carbon-linked financial activities. They empower governments, corporations, and financial institutions to engage openly and fairly in the carbon market.
Now their blueprint Sovereign Carbon tool introduces a transformative financial asset class that can potentially generate $1 trillion annually in carbon trading.

This innovative approach advances global Net-Zero efforts by monetizing natural resources like forests and wetlands and turning them into sustainable revenue streams.

Additionally, their Carbon Securitization Platform delivers real-time, secure data to support large-scale carbon transactions aligned with Article 6.

• This platform empowers nations to convert climate commitments into high-value financial products. This will further retain transparency and trust for governments and investors alike.

For instance, through the Securitized Sovereign Carbon nations can transform their natural capital, such as forests and wetlands, into tradable securities. This creates a profitable alternative to deforestation while attracting institutional investors to conservation efforts.

Laconic is headquartered in Chicago, with offices in Toronto, London, and Singapore. The company’s trademarks—SADAR, LUEI, and LUCID—reflect its dedication to driving environmental and financial innovation. The company proudly withholds its motive to redefine climate finance by channeling investments into emissions reduction while supporting the net zero goals of our planet.

By combining Planet’s meticulous Forest Carbon data with Laconic’s Sovereign Carbon securitization platform and industry expertise, the collaboration aims to unlock new ways to value natural capital and drive sustainability-focused markets.

Source: Planet Partners with Laconic to Deliver AI-Powered Forest Carbon Insights, Aiming to Enable Informed Carbon Credit Trading

• LATEST: Laconic and Bolivia Set New Benchmark with USD$5 Billion Sovereign Carbon Deal 

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Alaska Energy Metals Corporation (AEMC) continues to make significant progress at its flagship Nikolai Project in central Alaska. The company has announced exciting results from its 2024 drilling program, which extended the higher-grade core zone by 600 meters to the southeast and revealed coarse-grained magmatic sulfides—a new target for exploration.

These developments further strengthen AEMC Eureka Deposit’s position as a potential major source of critical minerals essential for clean energy and national security applications.

Its flagship Nikolai Project is a large-scale, polymetallic deposit with significant potential to support America’s clean energy transition. The nickel company also holds the Angliers-Belleterre project in Quebec, targeting high-grade nickel-copper sulfide deposits and potential white hydrogen production.

AEMC Nikolai Project – Property Location Map

Striking Gold—And Nickel: AEMC Expands Its High-Grade Core Zone

AEMC’s 2024 resource expansion drilling program consisted of four diamond drill holes, totaling 1,597.6 meters, per the company’s press release. Results from two of these holes—EZ-24-009 and EZ-24-010—were recently released, delivering highly encouraging outcomes.

Here are the summaries of the results for each drill:

Hole EZ-24-009

• Intersected 308.2 meters of polymetallic mineralization at 0.30% NiEq (nickel equivalent), including a 67.3-meter higher-grade core grading 0.39% NiEq.
• Discovered a 5.3-meter zone of coarse-grained magmatic sulfides grading 0.63% NiEq, with a peak interval of 0.9 meters at 0.95% NiEq.
• Extended the high-grade core zone by 600 meters to the southeast, increasing its total strike length to 2 kilometers.
• Provided a new exploration target with sulfide mineralization near a gabbroic dike.

Hole EZ-24-010

• Intersected 320.8 meters of polymetallic mineralization at 0.31% NiEq, including a 72.5-meter higher-grade core grading 0.39% NiEq.
• Confirmed mineralization extends further southeast, showing similar grades and thickness as EZ-24-009.
• Highlighted consistent mineralization, enhancing the deposit’s bulk-tonnage potential.
• Detected a downhole electromagnetic anomaly below the hole, warranting further investigation.

These results extended the strike length of the high-grade core zone to around 2 kilometers, significantly beyond the limits of the current Mineral Resource Estimate (MRE). This discovery is expected to drive a substantial increase in the AEMC’s indicated resource.

• READ MORE: Alaska Energy Metals Corporation Unlocks Vast Nickel and Critical Mineral Potential at Canwell Property, Nikolai Project, Alaska

A New Target Emerges: Coarse-Grained Sulfides

The most exciting discovery from this campaign is the identification of coarse-grained magmatic sulfides in EZ-24-009. Located near a gabbroic dike, these sulfides suggest a potential remobilized or coarser mineralization component within the Eureka Zone.

Alaska Energy Metals Chief Geologist Gabe Graf noted, 

“Drilling results continue to show the continuity and homogeneity of the Eureka Zone. With results from the remaining two drill holes anticipated soon, we can begin calculating an updated Mineral Resource Estimate. For the first time, coarse-grained magmatic sulfides were intersected and are being considered as an additional future exploration target.”

The sulfides could hold key insights into the geologic processes shaping the deposit, offering opportunities to uncover higher-grade zones and expand the resource base further.

The Expanding Promise of the Eureka Deposit

The results from EZ-24-009 and EZ-24-010 confirm the homogeneity of the Eureka Zone’s mineralization, highlighting its bulk-tonnage potential. The consistent grades and thick mineralized intersections reflect a robust system that is both predictable and scalable.

The remaining two drill holes (EZ-24-011 and EZ-24-012) are expected to provide additional data, potentially unlocking further extensions of the core zone. These findings will be incorporated into an updated MRE, which is already anticipated to reflect significant resource growth.

Strategic Importance of the Nikolai Project

The Nikolai Project is strategically located in Interior Alaska, benefiting from proximity to existing transportation and power infrastructure. This positions it as a highly accessible source of critical minerals, reducing logistical challenges often faced by remote projects.

The Eureka Deposit is particularly valuable due to its rich polymetallic profile, containing:

• Nickel, cobalt, chromium, platinum, and palladium: Designated critical minerals essential for clean energy technologies and electric vehicle batteries.
• Copper: A critical material for renewable energy systems and electrification.
• Iron and gold: Additional contributors to the deposit’s economic viability.

Remarkably, four of these materials are classified as Defense Production Act Title III materials, emphasizing their importance to U.S. national security.

• READ MORE: The Nickel Market is Changing Big Time: Is a Supply-Demand Shift Underway?

Sustainable Mining Meets Strategic Importance: AEMC’s Vision for North America

AEMC prioritizes sustainability and adheres to stringent environmental, social, and governance (ESG) practices. This commitment is reflected in its exploration and resource development processes, which focus on minimizing environmental impact while delivering value to stakeholders.

The company’s quality assurance and quality control (QA/QC) protocols ensure the integrity of its data. Drill core samples are carefully processed and analyzed at SGS Laboratories, with rigorous oversight to prevent contamination and ensure accuracy.

For its next steps, AEMC’s immediate focus includes finalizing assays for the remaining drill holes and updating the MRE to reflect the expanded strike length and newly discovered sulfide mineralization. Additionally, the coarse-grained sulfides will undergo detailed evaluation as a priority exploration target.

These efforts align with AEMC’s strategy to advance the Nikolai Project as a major domestic source of strategic energy-related metals for North America.

All in all, Alaska Energy Metals Corporation is rapidly advancing its flagship project, demonstrating a combination of resource expansion, innovative discoveries, and sustainable practices. The extension of the higher-grade core zone and the identification of coarse-grained sulfides mark significant milestones for AEMC. It further strengthens the company’s position as a key player in the critical minerals space.

• MUST READ: Unlocking Alaska’s Nickel to Drive America’s Clean Energy Revolutio

 

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Texas, alongside ten other Republican-led states, filed a high-profile lawsuit against BlackRock, Vanguard, and State Street last week. The lawsuit, lodged in federal court in Tyler, Texas, accused the asset management giants of conspiring to restrict coal production and spike electricity prices, allegedly violating antitrust laws. This also marks the culmination of a years-long investigation focused on scrutinizing environmental, social, and governance (ESG) practices within financial markets.

The plaintiffs claim these firms, leveraging their collective influence in the coal industry pressurized them to curtail coal supply and cut carbon emissions by over 50% by 2030. This became the crux of the case, with states arguing that the actions led to inflated utility bills for consumers.

So, here’s the case at a glance

• Plaintiffs: Texas and ten Republican-led states
• Defendants: BlackRock, Vanguard, State Street
• Allegations: Antitrust violations, market manipulation to reduce coal production, and increased electricity prices
• Relief Sought: Civil penalties and restrictions on shareholder voting practices
• Court: U.S. District Court, Eastern District of Texas

Texas Attorney General’s Stance

Media reports revealed that Texas Attorney General Ken Paxton taking charge of this case, labeled the defendants as an “investment cartel” that manipulated the coal market under the guise of advancing green energy objectives.

He accused the defendants of,

“ Promoting an illegal weaponization of the financial industry in service of a destructive, politicized ‘environmental’ agenda.”

The Battle Against ESG Policies Just Intensified…

This lawsuit represents the collective effort of Republican states to challenge the ESG initiatives, which they argue prioritize political agendas over economic value.

The coalition of states includes Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia, and Wyoming. They are seeking billions in damages and a court order prohibiting the firms from using their investments to influence coal company policies.

Here are the allegations in detail.

States Slam $26 Trillion Influence in Coal Industry

The states came down heavily on BlackRock, Vanguard, and State Street and further alleged the defendants exploiting their combined $26 trillion in managed assets to dominate the coal industry since 2021.

Reuters revealed that the complaint accused asset managers of holding significant stakes in nine coal companies. It includes combined respective stakes of 34.2% and 30.4% in Arch Resources and Peabody Energy which are the largest publicly traded U.S. coal producers.

The states said in the complaint.

“Let Markets Decide,” States Demand

The coalition criticized the asset managers’ influence, stating,

“Competitive markets — not the dictates of far-flung asset managers — should determine the price Americans pay for electricity.”

Additionally, they criticized the defendants for joining the Net Zero Asset Managers Initiative, which claims its members follow all antitrust laws. They also targeted BlackRock and State Street for participating in Climate Action 100+.

• MUST READ: Texas Withdraws $8.5 Billion from BlackRock Over ESG Investing

Vanguard’s Exit Doesn’t Erase Past Actions

Although Vanguard exited the Net Zero group in 2022 and BlackRock and State Street left Climate Action 100+ earlier this year, Paxton asserts their past actions continue to threaten the coal industry.

In addition, the lawsuit accuses BlackRock of misleading investors by using non-ESG funds to advance its climate agenda while claiming those investments were focused on shareholder returns.

BlackRock and State Street Dismiss Accusations

BlackRock dismissed the allegations, calling the lawsuit “baseless” and asserting that the claims contradict Texas’ pro-business ethos. It further added that this action discourages investment in companies critical to consumers’ energy needs.

State Street similarly denied the charges, emphasizing its commitment to enhancing shareholder value. Vanguard did not immediately respond to the lawsuit.

Who Wins, Who Loses?

The current lawsuit demands civil penalties for alleged violations of federal antitrust and Texas consumer protection laws. It also seeks to block the defendants from using their stakes in coal companies to vote on shareholder resolutions or take other actions that might constrain coal production. However, the case is still on and the verdict is awaiting.

Overall, this lawsuit highlights the growing backlash against ESG initiatives. Its impact could reshape corporate governance and environmental policies in the U.S. Energy markets.

From this report, we can strongly perceive the tense divide between climate advocates and critics of ESG policies. While Republicans argue that financial institutions undermine energy markets and consumer costs, climate proponents believe assessing environmental risks is vital for appropriate investment decisions.

Regardless of the outcome, the case could have significant consequences for the future of energy management and regulation. This applies even to the top asset managers, like BlackRock, whose role in shaping energy policies will be closely scrutinized.

Source: BlackRock, Vanguard, State Street sued by Republican states over climate push | Reuters

• FURTHER READING: ASIC’s Historic Court Win: Vanguard Found Guilty in Greenwashing Suit 

The post BlackRock, Vanguard, and State Street in Legal Soup: Texas Coalition Claims Coal Market Manipulation appeared first on Carbon Credits.

ArcelorMittal, the world’s second-largest steelmaker, announced a delay in its planned green steel investments in the European Union (EU), citing challenges posed by regulatory uncertainty. This decision underscores the tension between net zero commitments and economic pressures that ArcelorMittal and others face in the industry.

Major Decarbonization Plans in Limbo

The steelmaking industry is responsible for around 7% of global carbon emissions. This substantial carbon footprint prompts steelmakers to look for ways to cut their emissions.

In January, ArcelorMittal secured €850 million ($885 million) in subsidies from the French government to support its €1.7 billion decarbonization program at its Dunkirk and Fos-sur-Mer sites in France. A key component of this plan involves replacing 2 of 3 blast furnaces in Dunkirk with green hydrogen-powered facilities.

Despite the substantial funding, the company has yet to finalize these investments.  ArcelorMittal stated in an email:

“We are operating in a difficult market, and there are a number of policy uncertainties that are impacting the industry… We need an effective carbon border adjustment mechanism, as well as more robust trade defense measures, to strengthen the business case.”

The steelmaker emphasized the need for robust EU policies to support such initiatives.

• RELATED: ArcelorMittal and Microsoft Back MIT Green Steel Firm With $120M

EU Policy Uncertainty Hampers Progress

A significant factor in the delay is the lack of clarity regarding the European Commission’s Steel and Metals Action Plan. It is expected to address emissions reduction targets and competitive challenges. 

Industry analysts, like Philip Gibbs from KeyBanc, note that ArcelorMittal has been clear about its stance: it will not commit to substantial decarbonization investments unless supportive EU policies are in place.

Eurofer, the European Steel Association, echoed similar concerns. It highlighted that steelmakers face mounting pressure to cut emissions while maintaining profitability in a fiercely competitive global market. 

The production of green steel hinges on emerging technologies like green hydrogen, which is produced by splitting water into hydrogen and oxygen using renewable energy sources. It is considered a cleaner alternative with green electrical energy used to producing green steel as shown below. 

However, green hydrogen remains expensive and technologically nascent, adding to the challenges faced by steelmakers.

ArcelorMittal is not alone in grappling with these issues. German steel giant Thyssenkrupp announced in October that it is reviewing its €3 billion plan for green steel production, further highlighting the economic and policy hurdles in achieving emissions targets.

How the EU’s Green Deal and CBAM Impact the Steel Industry’s Transition

European steelmakers, among the largest global CO2 emitters, are under intense scrutiny to decarbonize. At the same time, they face fierce competition, particularly from China, where lower production costs allow for cheaper steel exports.

The European Commission’s Green New Deal, introduced in 2020, aimed to replace coal-fired blast furnaces with hydrogen-powered facilities. The initiative included a Carbon Border Adjustment Mechanism (CBAM), intended to level the playing field by imposing tariffs on imported goods with high carbon footprints.

However, delays in its implementation and uncertainty over its effectiveness have added to the hesitation among companies like ArcelorMittal. The company pointed out critical weaknesses in the CBAM. 

They have seen green steelmakers remain uncompetitive in the face of imports from coal-fired steelmakers in China. These flaws have allowed cheaper, high-emission imports to undercut European green steel producers, undermining efforts to make decarbonized steel cost-competitive.

ArcelorMittal’s Commitment to Net Zero: A Path Forward or a Stalled Dream?

Despite these challenges, ArcelorMittal reaffirmed its dedication to sustainability. The company had initially outlined plans to achieve net zero by 2050 through innovative technologies, including hydrogen-powered furnaces.

CEO Aditya Mittal remarked on the company’s commitment to reaching net zero emissions, saying that:

“ArcelorMittal remains absolutely committed to decarbonization. It is the right thing to do, both for the company and the planet. I remain confident that we can still achieve our net-zero by 2050 target, but the shape of how we will achieve this could differ from what was previously announced.”

ArcelorMittal Net Zero Roadmap

The world’s leading steel producer has outlined 5 key levers to achieve its net-zero emissions target by 2050, which include:

1. Steelmaking Transformation: Using innovative technologies such as Smart Carbon and direct reduced iron (DRI) processes to significantly reduce carbon emissions.
2. Energy Transformation: Shifting to clean energy like green hydrogen, Carbon Capture and Storage (CCS), and circular carbon solutions from sustainable sources.
3. Increased Scrap Usage: Enhancing recycling methods to integrate more scrap metal into steel production.
4. Sourcing Clean Electricity: Transitioning to renewable energy sources to meet operational energy needs and partnering with clean energy providers to ensure sustainable electricity supply. 
5. Offsetting Residual Emissions: Purchasing high-quality carbon offsets or developing carbon credit projects that rely on its direct intervention.

The steel giant’s decarbonization strategy unveiled in 2020, relied on favorable policies, technological advancements, and supportive market conditions to offset the high capital and operating costs of transitioning from coal to green hydrogen-powered steel production. However, significant challenges put a break in its decarbonization efforts. 

The slow progress of green hydrogen adoption and inadequate policy support have made large-scale investments risky. This forced the company to reconsider its roadmap.

The Path Forward

While ArcelorMittal remains committed to decarbonization, its delays reflect a broader challenge for the steel industry: achieving ambitious climate goals without undermining competitiveness. Clearer EU policies will be critical to unlocking investments in green steel technologies.

For now, the industry’s ability to transition to greener operations hangs in the balance. Companies like ArcelorMittal are waiting for the right combination of market conditions and policy support to move forward toward their net zero goal.

The post ArcelorMittal Delays €1.7B Net Zero Plan: Is The EU Policy to Blame? appeared first on Carbon Credits.