First-of-its-kind carbon credits insurance boosts project’s credibility

The challenge

Mere Plantations needed to demonstrate the high quality of this reafforestation project from a social and environmental perspective – and guarantee the integrity and high quality of their carbon credits to customers. 

They were exploring the insurance market to help achieve this, but couldn't find a product to fit their requirements.

Action

We helped the client reach this goal by: 

• Leveraging an existing partnership to validate findings, with AENOR as their third-party auditor.
• The audit was verified by Cercarbono (a global standard with a voluntary carbon certification programme), which issued circa 300,000 credits. 
• Presenting the project to insurers (including AENOR Report), providing a clear and concise submission process for outlining the project and the required insurance coverage.
• Delivering methodology insights so the project developer had a full understanding of the project's environmental, financial, social, and legal risks.

Through close collaboration with insurers and the client – and identifying the market willing to think outside the box – we designed a first-of-its-kind, adjusted insurance product to address the client’s needs.