Tokio Marine Invests in Kita, Expands Carbon Credit Insurance Partnership
Tokio Marine has invested in Kita, enhancing their collaboration on carbon credit insurance. This partnership aims to mitigate transaction risks for carbon credit buyers and expand service offerings in Japan.
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Tokio Marine has invested in Kita, strengthening their partnership focused on carbon credit insurance solutions. The collaboration aims to develop insurance products to protect buyers against risks associated with prepaid carbon credits not being delivered as contracted.
In 2024, the companies launched a product for political risk insurance related to carbon credit transactions. They will also explore satellite-based analytics for carbon project risk assessments for Tokio Marine & Nichido Fire Insurance Co, Ltd (TMNF) clients.
The investment details have not been disclosed. Kita was established in 2021, previously securing £4 million in seed funding in 2023, led by Octopus Ventures.
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