Kita, a Lloyd’s of London coverholder, has announced expansion to Singapore and Switzerland, adding to its existing cover for buyers/investors residing in the UK, US and Canada.
This is part of Kita’s ongoing global expansion strategy, with plans to add additional jurisdictions in the future.
Kita bridges the gap between insurance and carbon markets, offering a bespoke portfolio of carbon insurance products that acts as a sign of trust for carbon projects, purchasers of carbon credits and intermediaries operating within the sector. By reducing the risk of carbon trading, carbon solutions can access more consistent capital flows and scale their impact more quickly.
By increasing its presence in the country, Kita aims to open the door for even more market participants to protect quality carbon credit transactions with specialized carbon insurance products.
The news includes the company’s pioneering ability to pay eligible claims with alternative carbon credits and a high-profile memorandum of understanding with PYREG to deploy insurance for the world’s largest pool of durable biochar carbon removal projects. This follows Kita’s recent announcement.
Kita develops bespoke carbon insurance products that protect the quality and performance of carbon trading. By reducing risk, carbon insurance directs investment to high-quality carbon projects and allows them to scale up at the pace needed to address the climate crisis. Mr Kita is a coverholder at Lloyd’s of London, a global specialist insurance and reinsurance market underwritten by Chaucer Group, Munich Re-Innovation Syndicate and Renaissance Re.
PYREG describes itself on its website as follows: german carboni makersA machine for upcycling organic waste into valuable CO2-sequestering biochar and recycled heat.