Technology
313: Can Carbon Removal Be Insured?—w/ Racheal Notto & James Kench, Kita
2024-02-08
When people think about innovation in carbon removal, they're probably thinking about physics or materials science. How do we make CDR faster, cheaper, more durable, or use less energy? What if we told you that a lot of the innovation that is coming is financial and/or contractual?
In this episode of the Reversing Climate Change podcast, Nori Cofounder Ross Kenyon and Nori CEO Matt Trudeau are joined by Racheal Notto, Director of Carbon Markets Engagement at Kita, and James Kench, the Head of Insurance at Kita. Their conversation explores how insurance can play a key role in managing risks within the carbon markets, and why it isn't already more of a player. Insurance companies are the professed masters of risk management. Carbon markets have a fair amount of risk. Shouldn't there be a bigger crossover?!
Kita, a London-based insurance company focusing specifically on insuring carbon projects, explains their goal of derisking high-quality carbon projects, and what that can add to all players in the space.
The discussants weigh the pros and cons of buffer pools vs. insurance and get answers for why some high-quality carbon removal projects may actually be uninsurable.
Insurance is important for any industry to grow. This could be a sign of another step in the carbon removal sector's growing maturity.
Connect with Nori
Purchase Nori Carbon Removals
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Check out our other podcast, Carbon Removal Newsroom
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Resources
Kita's website
"Buffers and Insurance in the Voluntary Carbon Market: A Comprehensive Overview" by Kita
"Could VCM buffer pool design risk a "bank run"?" by Matt Trudeau
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