London, 18 August 2025: Oka today announced its expansion into the green credit insurance market, unveiling a range of strategies that de-risk capital earmarked for climate solutions. By extending its expertise and capacity to a wider universe of projects and risks, Oka furthers its mission to unlock finance for companies – and scale industries – transitioning the world to a sustainable future.
Building on its core carbon products, Oka’s expanded suite now includes coverage for:
Transition project financing: Pre-payments for climate transition projects, including carbon-credit generation, clean-power generation, and green industry development
Green and blue financing: Buy-to-hold green and blue bonds
Sustainability-linked financing: Loans benchmarked against sustainability KPIs
Letters of credit and counter-indemnities: Repayment guarantees by either party – bank or obligor – to a financing contract for a climate transition project
Loans to climate leaders: Obligors driving the climate transition, maintaining high environmental ratings, or directing or benchmarking proceeds to climate-related or against sustainability-linked KPIs, respectively
Since inception, Oka, via Lloyd’s syndicate 1922, has been singularly focused on de-risking innovative climate solutions to lower project costs, scale commercial finance, and accelerate adoption of the technologies driving progress towards net zero. The firm couples sophisticated underwriting techniques – incorporating market-leading data analysis and AI – with deep industry expertise and a nimble, partner-led approach to policy design and risk selection. Building on its success in the global carbon markets, Oka is seeking to replicate its traction in adjacent clean-energy and renewable industries.
To bolster its dedicated underwriting capabilities, Oka has appointed James Morrell to the role of Head of Credit Underwriting. James was previously at HDI Global Specialty SE and has held roles at Beazley and Brit. He has over 18 years of experience underwriting credit and political risk across both Lloyd’s syndicates and company markets, analysing a wide range of assets on behalf of banks, corporates, and multilateral institutions.
Commenting on the news, Oka Founder & CEO Chris Slater said: “Expanding our proposition to a broader sustainable finance remit is a natural evolution for Oka. In the renewables market as for the carbon market, there’s an urgent need for long-tenor risk cover to mobilise capital for innovative decarbonisation projects and companies. The technologies may be new and the risks complex, with projects often requiring high upfront and long-term capital. Against this backdrop, dynamic AI-led underwriting and deep market insight – qualities of which Oka is proud – are vital for building longstanding partnerships in this space.”
James added: “Clients tell us they need certainty – in both policy terms and carrier expertise. Oka brings both to the table, coupled with a strong track record of supporting developers and lenders and driving innovation in the carbon markets. Through our expanded remit, we look forward to removing barriers to trade and investment to help drive progress towards a sustainable future.”
For more information, please contact: media@carboninsurance.co