Kita today announced a strategic investment from Tokio Marine Group1 alongside a deepened partnership between Kita and the Group.
The announcement builds on Kita’s existing collaboration with Tokio Marine Kiln, through which the companies have worked together to develop Political Risk Insurance solutions for carbon credit transactions. Following this investment, Kita will deepen its collaboration with additional companies within the Tokio Marine Group to support the growth and integrity of global carbon markets.
Especially in Japan, Kita is working with Tokio Marine & Nichido Fire Insurance Co., Ltd. (“TMNF”) to develop insurance that protects carbon credit buyers against risks in carbon credit transactions, including the risk that prepaid carbon credits are not delivered as contracted.
Furthermore, through its collaboration with TMNF, Kita will explore the provision of carbon project risk assessment services utilizing satellite-based analytics for TMNF’s customers.
TMNF aims to integrate these risk assessment capabilities with the comprehensive carbon project support services2 it provides through Nippon Koei, the engineering consulting company within the Tokio Marine Group, which include field assessments, project design, due diligence, and project implementation support, to develop a one-stop solution covering the full carbon project lifecycle, including (i) rapid preliminary screening in the early stages of project evaluation, (ii) detailed investment assessments supported by field surveys, and (iii) long-term support for carbon credit generation and project delivery.
*1 The Tokio Marine Group has made this investment through Tokio Marine & Nichido Fire Insurance Co., Ltd.
*2 Scope of services under consideration
The proposed services may include support for international carbon projects covering project origination and structuring, feasibility studies, technical and human rights due diligence, project implementation and operational management, and ongoing compliance and monitoring.
