Kita, a Lloyd’s of London coverholder specializing in carbon insurance, has extended its presence to Switzerland and Singapore, supplementing its existing coverage for buyer/investors situated in the UK, US, and Canada.
The move is aligned with Kita’s overarching global expansion strategy, with plans for adding more jurisdictions in the future.
The company is known for its tailor-made portfolio of carbon insurance products, providing a unique offering in the market.
By mitigating risks associated with carbon transactions, Kita facilitates greater access to consistent capital for carbon solutions, allowing them to amplify their impact at an accelerated pace.
This strategic expansion signifies a milestone in Kita’s commitment to mitigating investment risks for companies operating in countries actively engaged in impactful carbon markets.
The initiative is aimed at supporting and enhancing carbon market engagement for businesses, fostering a more sustainable and resilient global economy.
The recent announcement comes shortly after Kita entered into a memorandum of understanding (MOU) with PYREG, a German net-zero tech company specializing in biochar carbon removal.
Together, they are working on the development of the world’s largest durable biochar carbon removal project pool.
Additionally, Kita, in collaboration with specialty insurance and reinsurance group Chaucer, has introduced an innovative feature allowing insurance claims to be settled in replacement carbon credits.