Reported 6 months ago
Insurance companies are stepping in to support the $2 billion carbon offset market by offering policies designed to de-risk credits purchased by polluters to neutralize their climate impact. This move comes in response to issues like data fraud and questionable practices that have plagued the voluntary carbon market. Insurers like Oka and Cloverly are collaborating to provide insured credits, offering protection against risks like forest fires that could impact carbon offset projects. The insurance industry's involvement aims to bring stability and integrity to the carbon market, which has faced scrutiny for not always delivering meaningful climate benefits.
Source: YAHOO