Oka and Oregon Biochar Solutions bring insured biochar credits to market

Oka, The Carbon Insurance Company™ (Oka) has partnered with Oregon Biochar Solutions (OBS) to bring world-first invalidation-insured biochar credits to the voluntary carbon market (VCM). Facilitated by OBS project proponent GECA Environnement (GECA), the collaboration sets a new record in the VCM and an ambitious new benchmark for high-quality biochar carbon removal (BCR) credits.

Demand is surging for carbon dioxide removal (CDR) projects, with BCR accounting for 94% of all such credit deliveries in 2023¹. Revenue generated from credits has, in turn, helped developers achieve commercial viability. Today, BCR credits are scalable, reliable, affordable, and associated with a host of co-benefits, prompting the World Economic Forum (WEF) to call BCR the carbon sequestration “jack of all trades².”

A leader in the biochar industry since its inception, OBS has consistently aimed to offer buyers and investors access to high-quality biochar, industrial capacity, and sustainable production. OBS was the first CDR project in the Americas to transact credits in 2021, and also the first industrial-scale project in America to be certified under the market-leading Puro.earth standard.

Three years later, the project has, once again, shown its commitment to innovation and reliability by partnering with Oka on a world-first insurance solution.

Commenting on the partnership, Oka Founder & CEO Chris Slater said: “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.”

Melissa Leung, GECA’s Director of Business Development, added: “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.”