Marex has been involved with the mangrove project since 2021. Credit: ARMMY PICCA/Shutterstock.

Carbon insurance provider Kita is providing coverage for Marex’s investment in the Global Mangrove Trust’s mangrove restoration and conservation project in North Sumatra.

This blue carbon project is supported by Marex and developed under the OxCarbon Standard by YAGASU and the Global Mangrove Trust.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Specialty reinsurance group Chaucer provided capacity for Kita.

Verification of the project’s integrity was done by Kumi Analytics through satellite imagery, AI and on-the-ground monitoring.

Kita CEO and co-founder Natalia Dorfman said: “We are delighted to be working with Marex to offer our risk management expertise in the service of their commitment to driving the credibility of the Voluntary Carbon Market [VCM].

“I believe the combination of risk assessment and management that insurance brings, combined with the strong MRV and carbon modelling executed within the underlying project, represents the next stage of the VCM – high integrity, rigorously assessed carbon projects within a risk-mitigated transaction structure. The result is driving proactive financing towards high-quality carbon projects, while safeguarding project stakeholders and enabling positive outcomes.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

By applying Kita’s Carbon Purchase Protection Cover to the carbon credits generated by this project, an additional layer of security is provided, reinforcing the project’s credibility.

Kita’s support for the project is based on a comprehensive evaluation of risk using its proprietary underwriting models.

Marex, a provider of liquidity and market access services across various sectors, has been involved with the mangrove project since 2021.

Marex environmental head Bastien Declercq said: “The Global Mangrove Trust project provides Marex, our clients and the wider market with an inventory of high-quality carbon offsets.

“Marex is proud to have been the initial financier of the Global Mangrove Trust’s project, and we are delighted that, following a professional risk assessment process, it has satisfied Kita’s insurance criteria, as a Lloyds of London Coverholder. Kita’s coverage moves us towards more rigorous, regulated assessments.”