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Partnership Announcement: ClearBlue Markets and Kita Join Forces to Increase Precision and Integrity of Carbon Insurance Models

Please view the press release on our partner, Kita's website. We are excited to share the news that ClearBlue Markets and Kita, a pioneer in carbon credit insurance, have formed a groundbreaking partnership to provide Voluntary Carbon Market (VCM) stakeholders with enhanced data, risk mitigation and transparency related to the procurement, management and valuation of carbon credits. Together, market participants will gain greater confidence in market transactions.

From the press release:

Leveraging its robust technology platform (ClearBlue Vantage) along with its wealth of data and hands-on experience in carbon markets, ClearBlue reviewed hundreds of nature-based project methodologies – both Improved Forest Management (IFM) and Afforestation, Reforestation and Revegetation (ARR) - to assess delivery risk. The results of this analysis are integrated into Kita’s underwriting model for its core product, Carbon Purchase Protection Cover, a delivery risk insurance policy. Incorporation of this analysis bolsters Kita’s ability to address delivery risk more precisely.

ClearBlue’s Delivery Risk Assessment (DRA) addresses the challenges of investing in and managing carbon project development by mitigating exposure to project failures and discrepancies in estimated versus issued credit volumes. ClearBlue’s offset development experience that underpins the DRA is supported by Vantage technology and has been refined through collaboration with various investors and financial institutions. The DRA factors in a wide range of parameters such as location, registry, and project type, as well as leveraging historical data to quantify project delivery risk and estimate the probability and volume of issuance.

Kita’s Carbon Purchase Protection Cover (CPPC) is a tailored insurance product for buyers, investors and lenders of forward-purchased carbon credits, protecting against the risk of under-performance and providing a stamp of confidence on transactions. CPPC was launched in February 2023 to protect against delivery failure, shortfall, and in some cases even delay that arises from counterparty risk, natural catastrophe and changes at the carbon standard or methodology level. Together, ClearBlue and Kita form a synergistic alliance that addresses both the analytical and risk management aspects of adhering to climate goals through investment into voluntary carbon credits. This partnership not only facilitates informed voluntary carbon credit buying and risk mitigation strategies, but also enhances the transparency and integrity of the Voluntary Carbon Market (VCM).

“We are excited to collaborate with Kita to offer a comprehensive set of insights around carbon offsets for businesses committed to environmental stewardship,” said Michael Berends, CEO at ClearBlue. “By combining our Voluntary Offset Insight tool as well as decades of expertise in offset project development, due diligence, and analysis on carbon offsets with Kita’s innovative carbon insurance, we aim to provide a holistic approach to sustainability, supporting organisations in their journey towards a low-carbon future.”

Paul Young, CTO and co-founder at Kita, expressed enthusiasm about the collaboration stating, “Modelling the risks of early-stage projects relies on analysing historical activities and their outcomes. It necessitates not only an expert understanding of the development process but also the technology to extract this data from deep within the documentation. Our partnership with ClearBlue has addressed this challenge, aiding Kita in developing insurance to support projects during this critical phase.”

This partnership represents a milestone in the efforts to support companies that are actively investing in critical carbon projects, by providing an extra layer of risk mitigation on their investment. Businesses and investors looking to embrace sustainability and environmental targets in a comprehensive manner now have a formidable ally in the combined expertise and products of ClearBlue and Kita.


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