The carbon credit buffer is designed to maintain the integrity and performance of carbon schemes and protect buyers. Credit: chayanuphol/Shutterstock.

Kita, a specialist carbon insurance company, has partnered with UK-based carbon standard Wilder Carbon to introduce an insurance policy for a buffer pool of carbon credits.  

The buffer, a central pool to which project developers contribute credits that cannot be sold, is designed to maintain the integrity and performance of carbon schemes and protect buyers. 

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Kita’s insurance policy for the Wilder Carbon buffer aims to enhance trust and integrity in the carbon market.  

It offers an additional safeguard against underperformance and the risk of default, ensuring that buyers of carbon credits are compensated in the event of losses that deplete the buffer. 

Capacity for the new insurance solution is provided by Chaucer, a specialist (re)insurer. 

Kita CEO and co-founder Natalia Dorfman said: “By working in partnership with Carbon Standards, carbon insurance can increase resilience and build trust in the integrity and functionality of buffer pools.  

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“We are thrilled to be working with Wilder Carbon on a pioneering insurance offer for their high-quality nature-based carbon credit buffer, and hope this policy helps lead the way for the wider incorporation of insurance into buffers across the Voluntary Carbon Market.”  

Wilder Carbon programme director Sarah Brownlie said: “Partnering with Kita for innovative insurance solutions will complement Wilder Carbon’s already robust risk mitigation, trusted delivery partners and commercial approach to protect carbon credit investments on our validated projects. This will reduce barriers to market entry and secure further investment into the restoration of nature.”  

Last week, Gallagher Specialty launched a new carbon insurance solutions service to support clients in managing risks associated with decarbonisation efforts.  

With the carbon credit market valued at $2bn (£1.58bn) in 2022 and projected to grow to $40bn by 2030, the demand for such insurance solutions is expected to rise in response to increasing regulatory and stakeholder pressures.