Two innovative companies in the carbon removal sector are partnering to bring more invalidation and reversal insured credits on the carbon market. Oka, The Carbon Insurance Company™ (Oka), derisking the voluntary carbon market (VCM), has partnered with Oregon Biochar Solutions (OBS) – a manufacturer of high-quality biochar, for invalidation-insured biochar credits.
The partnership facilitated by OBS project proponent GECA Environnement (GECA) – an internationally recognized consulting firm providing expert consulting in biochar and pyrolysis, is deemed to set a new record in the VCM and an ambitious new benchmark for high-quality biochar carbon removal credits.
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“OBS and GECA are excited to announce a game-changing partnership with Oka. We believe insurance in the VCM provides an additional layer of trust through diligence, and confidence for buyers looking to de-risk their purchases. Being the first out of the gate with insurance-wrapped biochar credits sets OBS and the GECA portfolio at the forefront of the market and sends a critical signal of quality to our customers,” said Melissa Leung, GECA’s Director of Business Development.
Oka, The Carbon Insurance Company™ is one of the pioneers in the insurance market for carbon credits, created to provide credit buyers with financial compensation in the event of unforeseeable and unavoidable post-issuance risks, including invalidation and reversal.
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“Oka is delighted to be the first insurance provider to underwrite biochar credits, and we couldn’t have found more natural partners in OBS and GECA: two companies continuously pushing the bounds of climate science and carbon market innovation. Amid soaring demand for BCR, risk-protections such as ours will help guide capital towards the highest-quality and most impactful projects,” said Oka Founder & CEO Chris Slater.
