Puro.earth's post


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Kita Carbon Insurance and Puro.earth are partnering to bring CORC non-delivery insurance for biochar carbon removal projects! 👏 Kita is one of the world’s first carbon insurers and work on de-risking carbon removal solutions to accelerate their ability to scale. The insurance will be available for biochar projects through our marketplace from next year, increasing confidence for corporate CORC buyers to secure the carbon removal needed for their climate commitments. “More buyers will now be able to offer prepayments to suppliers, filling some real funding gaps. De-risking transactions will scale the supply of quality carbon removal to meet the fast-growing demand. The inclusion in the value chain of this insurance has the potential to unleash a remarkable climate impact.” said Arnaud Defrance, VP Funding Solutions at Puro.earth. With this partnership, we hope to reduce transaction risk, accelerate upfront financing and help buyers fund projects with trust. This partnership is the result of a 4-month working group between Puro.earth and Kita. We were assisted by GECA Environment, the internationally recognized consulting firm in biochar and pyrolysis, who contributed in assessing and pricing the risks of biochar carbon credit pre-purchases and potential for under-delivery. “Puro.earth, GECA and Kita all share the same goal – scaling the Carbon Dioxide Removal industry to right the climate crisis. Our working group with Puro.earth and GECA was instrumental in helping assess the key risks our insurance needed to cover for biochar carbon delivery risk. We are excited by this next stage of partnership – the scale of Puro.earth’s marketplace means we can create positive climate impact faster, de-risking forward purchases to support suppliers and buyers alike in meeting their climate targets,” said Natalia Dorfman, CEO of Kita. Learn more about Kita in their website here: https://www.kita.earth/ and about us at https://puro.earth Read the press article here https://insurance-edge.net/2022/10/03/puro-earth-and-kita-working-on-carbon-removal-insurance/

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