- Carbon removal is an essential step towards meeting Net Zero targets, and removal credits offer companies around the world a way of offsetting their emissions. In 2021, $1bn of credits were bought in the voluntary carbon market, a figure that doubled in 2022 and will continue to grow, spurred by consumer concern, regulatory pressure and net zero commitments.
- A growing demand and lack of supply means that these credits are, increasingly, pre-purchased. This also allows project developers to finance projects up front.
- But this also introduces a high degree of risk: forests planted for carbon capture may be vulnerable to fires; technological carbon removal solutions may not perform as well as hoped; credits are also vulnerable to invalidation by regulatory authorities. This risk is affecting confidence and uptake, hampering this essential solution to the climate crisis.
- Kita provides a solution to this risk, by offering the world’s first carbon insurance product. The company is building trust in the market by transferring the financial and reputational risks associated with under delivery to itself.
- With a specialised underwriting model, designed specifically for carbon delivery risk, and a highly accomplished leadership team, Kita allows sellers and buyers in the voluntary carbon market to interact with confidence – and realise the true world-changing potential of carbon removal.