International re/insurance broker Howden has announced the launch of a carbon credit invalidation insurance solution to increase confidence in the Voluntary Carbon Market (VCM).
To develop the product, Howden worked with the carbon finance business, Respira International, and Nephila Capital, an investment manager specialising in reinsurance risk. They were also advised by climate risk finance company, Parhelion.
The product was matured through the innovation work stream on the Insurance Task Force of the Sustainable Markets Initiative, led by His Royal Highness the Prince of Wales.
