Carbon insurance specialist, Kita, is taking a significant step in reducing risk in carbon credit transactions with its innovative insurance products.
Kita describes itself as carbon insurer for the climate crisis. By safeguarding the quality and performance of carbon purchases, Kita aims to facilitate upfront financing, enabling carbon removal solutions to access greater and more consistent capital, thus accelerating their impact.
Kita’s vision is to develop a comprehensive portfolio of insurance products tailored to the unique risks faced by all participants in the carbon markets ecosystem. From sellers to buyers and intermediaries, Kita seeks to provide protection against potential risks, fostering trust and stability in the market.
The company’s inaugural offering, the Carbon Purchase Protection Cover, addresses a critical protection gap by insuring buyers of forward purchased carbon removal credits against carbon delivery risk. By mitigating this risk, Kita aims to boost buyer confidence, leading to increased capital flow and empowering carbon removal projects to scale rapidly in the global fight against the climate crisis.
In February 2023, Kita successfully concluded a highly oversubscribed £4m seed funding round. Led by Octopus Ventures, the round also saw participation from investors including Insurtech Gateway, Carbon13, Climate VC, Chaucer Group and Hartree Partners, further validating Kita’s mission and propelling its growth trajectory.
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