Lloyd’s Sustainability Report 2023 Highlights Oka™

 In October 2023, Lloyd’s Capital Planning Group granted in-principle approval to Oka, a syndicate-in-a-box (SIAB) offering an insurance solution for carbon credits. Oka offers a first-of-its-kind carbon credit insurance solution, Carbon Protect™, providing buyers with financial compensation innthe event of unforeseeable and unavoidable post-issuance risks. That means that companies have assurance that their purchase is safe as any carbon emissions which leak or are re-emitted through accidental damage, fire etc will receive indemnity.

Read the case study on page 17 of the report. 

 

 

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Corresponding Adjustment Protect™

An insurance solution that protects the risks of an authorized credit losing its Article 6 authorization due to the Corresponding Adjustments not being applied or LoA revocation by the host country.

Carbon Protect™

An insurance solution the provides financial compensation in the event of unforeseeable and unavoidable post-issuance risks to ensure carbon credits.