Area characterisation:
Terrestrial
Objective:
Insure carbon credit sales against loss
Financing:
Private
Potential impacts/benefits:
- Increased confidence in reforestation carbon credit markets
- First-ever W&I cover for carbon credit sales
- Supports NbS scaling in developing countries (Ghana)
Actions:
Placed the first carbon credits warranty and indemnity policy, insuring the sale of carbon credits from a reafforestation project on degraded teak-plantation land in Ghana.
Organisations:
Howden
Contacts:
Case study referred by UNEP FI. For more information, please contact: info@naturance.eu.
Howden, the global insurance intermediary group, has placed the first-ever Carbon Credits Warranty and Indemnity (W&I) insurance policy. The policy provides insurance cover on the sale of carbon credits associated with a reafforestation project on degraded forest lands by Mere Plantations — a UK-based company that owns and operates a teak plantation in Ghana, West Africa. The policy has been underwritten by a leading managing general agent.
Sustainable Development Goals:
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13. Climate action
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17. Partnerships for the goals
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15. Life on land