Carbon insurance provider Kita has expanded into Australia, strengthening its foothold within Asia-Pacific.
This move allows Kita to offer its suite of carbon insurance products and services in the region, building on its existing coverage for buyers and investors in Canada, the EU/EEA, Singapore, Switzerland, the UK and the US.
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Kita aims to bridge the gap between the insurance and carbon markets.
The company claims that its products are tailored to address the “evolving risks and opportunities” presented by carbon markets.
Kita insurance managing director James Kench says: “Australia is a key and growing sector in the carbon markets and Kita is delighted to bring our innovative insurance solutions to the region.”
Last month, Kita teamed up with space technology company Pixel to enhance its monitoring and insurance offerings to its clientele, which include major commodity traders, international development banks, investment funds and insurance companies.
Pixel technology captures biophysical and biochemical indicators at a species level, providing insights into ecosystem health.
Kita plans to leverage this data to refine its risk modelling methodologies, with potential applications in blue carbon, afforestation and vegetation stress assessment.
In December 2024, the company expanded its active risk monitoring services for carbon markets, which have been available to select stakeholders since March 2024.
The company’s risk modelling for ex-ante projects is conducted daily, supporting the underwriting process for insurance towards investment in early-stage projects.
Kita is a Lloyd’s of London coverholder, with its insurance products underwritten by partners such as Chaucer Group, Munich Re Innovation Syndicate, RenaissanceRe and Tokio Marine Kiln.
