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The Clima partnership brings Oka-insured carbon credits to Australia, widening access for local corporate buyers.
Marking the start of its global expansion, Oka, the leading carbon-credit insurer, has entered a customer agreement with Australian carbon solutions platform Clima.
Clima connects companies globally with the largest range of carbon credits in Australia, as well as to high-integrity global projects. Through Oka, clients will now also gain exclusive access to some of the first insurance-protected credits in the country. The premium credits come pre-wrapped in Oka’s innovative insurance solution, minimizing the due-diligence burden on buyers while insulating them from post-issuance risks.¹
PSC Paragon (Australia) is the insurance broker working with Oka and Clima to provide the insurance.
Pivotal Moment for Climate Action
Oka and Clima join forces in a critical year for corporate climate action worldwide. In January, the Australian government published draft legislation that would require large Australian businesses to disclose their climate-related financial risks and opportunities, in line with international reporting standards.
Under growing regulator, shareholder, and customer pressure to disclose and decarbonize, thousands of companies operating in global markets — particularly those in sectors with hard-to-abate emissions — require reliable offsetting solutions to meet their net-zero targets. Oka and Clima are committed to providing businesses with a transparent, reliable, and seamless route to the voluntary carbon market (VCM), reducing their obstacles to climate progress.
Commenting on the partnership, Oka Founder & CEO Chris Slater said: “Climate change is a global problem that requires coordinated global solutions. To that end, we couldn’t be more excited to bring our first-of-its-kind insurance solution to international markets — nor could we imagine a more fitting non-US market in which to expand first, given the rapidly accelerating pace of carbon and climate action in Australia. We very much look forward to working with Clima — a company that shares our values and ambition — to unlock trust and transparency in the VCM.”
Clima CEO Guy Dickinson added: “Clima is dedicated to making carbon markets more transparent, and so we’re delighted to be first to the Australian market with Oka-insured carbon credits. Not only do the insurance-wrapped credits meet an unprecedented standard for quality, but we’re also excited by their potential to unlock new corporate demand. We look forward to working together to build a truly international voluntary carbon market.”