Kita is a carbon insurance specialist that provides a range of insurance products designed to mitigate risks associated with carbon credit transactions. By reducing these risks, Kita facilitates increased capital flow to high-quality carbon projects, thereby accelerating climate impact.
Funding
$5.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Carbon credit projects face risks such as natural disasters, fraud, negligence, and political instability, which can lead to the loss of carbon credits and undermine investor confidence. Companies often rely on self-insurance to mitigate these risks, which may not be sufficient to cover potential losses. The lack of adequate risk mitigation hinders the flow of capital to high-quality carbon projects.
Solution
Kita offers a portfolio of carbon insurance products and risk advisory services designed to protect against the loss of carbon credits. Kita's insurance policies cover risks including natural catastrophes, fraud, negligence, insolvency, political risks, and changes in carbon standards. Claims can be paid in cash or replacement carbon credits, providing flexibility based on individual risk appetites and carbon strategies. By reducing risk in carbon transactions, Kita enables greater flows of finance towards carbon solutions, while buyers and investors gain confidence that they are protected against unexpected loss.
Target Audience
Kita's primary customers include carbon project developers, carbon credit buyers, investors in carbon projects, and organizations seeking to offset their carbon emissions.
Features
- Carbon Purchase Protection Cover against invalidation or reversal of carbon credits
- Abandonment & Insolvency coverage in case of project developer failure
- Buffer Depletion Protection Cover for losses due to natural events impacting carbon sequestration
- Carbon Political Risk Cover against adverse government actions
- Risk assessment services to identify and quantify potential risks in carbon projects
- Claims can be paid in cash or replacement carbon credits
- Policies are underwritten by underwriters at Lloyd’s