Bali signs up Laconic to help boost its climate action

Quantum Commodity Intelligence - US environmental data and analytics solutions provider Laconic Infrastructure Partners has signed a contract with a Bali provincial government entity that could help generate up to $500 million worth of carbon credits.

Laconic has agreed a $357 million 10-year deal with Perusda Bali to provide "environmental intelligence, natural capital monetization, and regenerative ecoculture services" across the island of Bali.

Laconic said it will deploy its SADAR (Sentient All-Domain Augmented Response) decision-enabling platform to monitor and monetize the "complete extents, conditions, stocks, and flows of Bali's carbon sequestering natural capital assets, as well as comprehensively documenting, characterizing, and validating ongoing additionality activities".

It said the platform will also support Bali's adoption of large-scale organic and regenerative agriculture practices, including the monitoring, characterization, and validation of a programme to eliminate rice straw burning at scale.

SADAR combines remote sensing technologies, human observation and intelligence, AI/ML informatics and predictive modelling based on data stores for users to make real-time decisions.

The company expects the deal to create over 300 new jobs for Balinese citizens, as well as expand its existing training and outreach programmes for farmers at its Cemagi learning centre.

Bali Governor Wayan Koster said the technology would help support the island's climate change mitigation and adaptation plans laid out in the Nangun Sat Kerthi Loka Bali vision.

Laconic chief executive Andrew Gilmour said the initiative has the "potential to increase the Balinese GDP by $10 billion over the next 20 years, as well as generating as much as $500 million of carbon credits for the provincial government over the same period.