The name of the light-absorbing pigment found in plants is chlorophyll. Chlorophyll is essential for the process of photosynthesis, allowing plants to convert sunlight into chemical energy by capturing light energy and converting it into glucose. This pigment primarily absorbs light in the blue and red wavelengths while reflecting green light, which is why plants appear green. Chlorophyll is vital not only for the survival of plants but also for sustaining life on Earth by producing oxygen as a byproduct of photosynthesis.