Oka™ Announces Partnership with Sylvera

PARK CITY, Utah, Aug. 17, 2023 /PRNewswire/

Oka, The Carbon Insurance Company™ (Oka), is thrilled to announce a first-of-its-kind partnership with carbon data firm Sylvera. The collaboration will enable Oka to hone its market-leading carbon credit insurance solutions by integrating its modeling capabilities with Sylvera’s sophisticated carbon project assessment data.

The climate-risk alliance comes at a critical juncture for the voluntary carbon market. In strengthening the financial and reputational protections available to corporate buyers of carbon credits, Oka is seeking to revolutionize an industry — and climate — in crisis.

Commenting on the partnership, Chris Slater, Oka Founder and CEO said: “This is a crucial milestone in our journey towards ensuring every carbon credit is insured. Sylvera’s rating expertise complements our pricing and underwriting capabilities, enabling us to deliver tailored carbon credit insurance solutions. Together, we look forward to bringing much-needed trust and transparency to the voluntary carbon market.”

Oka, The Carbon Insurance Company, partners with Sylvera

Samuel Gill, Sylvera Co-founder and President, said “Insurers like Oka help reduce the risk burden from carbon credit buyers, a hugely important component of ensuring that the carbon markets are an effective mechanism for funding real climate action. However, accurately modeling risk requires the best data available–Sylvera makes that easier. With Sylvera’s carbon data, insurers like Oka can make better decisions about the risks associated for more accurate underwriting.”

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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 a Corresponding Adjustment not being applied or LoA revocation by the host country.

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