Businesses are increasingly looking to reduce their carbon footprint by using renewable sources of power.
The construction and operation of installations, such as wind turbine, solar farms, hydropower plants and short term operational reserve equipment may require specialised insurance.
Kita is committed to delivering insurance products that bring about sustained, effective change.
Oka, The Carbon Insurance Company is de-risking the voluntary carbon market (VCM) for buyers and sellers of carbon credits. Our first-of-its-kind carbon insurance solution provides buyers with financial compensation in the event of unforeseeable and unavoidable post-issuance risks, including reversal and invalidation.
Protected by Oka, one credit purchased represents one metric ton of carbon removed. By upholding accounting integrity in the unregulated and unpredictable VCM, we instill confidence in and drive capital towards climate investments.
The Carbon Offset Credit Insurance product allows clients to safeguard their commitments to greenhouse gas reduction. The product protects clients against loss due to invalidation of the Carbon Offsets they hold on their balance sheet. Should covered Offsets be invalidated by a relevant authority the product provides the funds to purchase replacement Offsets.
The Insured Risks are the reasons for invalidation as set out in section 95985(c) of the California Cap & Trade Program Regulations being:
Descartes’ parametric insurance uses predefined triggers to accurately measure potential financial losses from bushfire driven carbon credit inventory impacts, as well as reforestation costs. This tailor-made, data-driven coverage ensures transparency and reliability, as the client has peace of mind they will receive their payment following a wildfire event.
Howden, the international insurance broker, announced that it has worked with carbon finance business, Respira International, and Nephila Capital, a leading investment manager specialising in reinsurance risk, to develop a carbon credit invalidation insurance solution to increase confidence in the Voluntary Carbon Market.
Burning more often, more intensely, and for longer – wildfires are increasingly impacting the global forestry industry, calling for parametric insurance to cover the risks. As the demand for forestry assets continues to rise steadily, wildfire represents an increasingly significant risk exposure. To date, more than 17,000 wildfires have burned over 800,000 acres in the US -meaning that an average of about 6 acres per minute are burned.
The official website of the TIST Program.
WithOneSeed community forestry started in Baguia, Timor-Leste in 2010. The program achievements to date are: