CarbonPool joins the United Nations Environment Programme's Forum for Insurance Transition

CarbonPool is pleased to join the United Nations Environment Programme’s Forum for Insurance Transition to Net Zero (FIT), a structured dialogue and multistakeholder platform led and convened by the United Nations to support the scaling up of voluntary climate action by the insurance industry.

CarbonPool will be the first startup to join the FIT and will bring to the FIT our innovative in-kind insurance model, a world-first approach to insuring the net zero transition. FIT organisations include key stakeholders across the insurance industry, including prominent insurers and insurance regulatory and supervisory authorities from around the world, and representatives from the scientific, research and civil society communities.

CarbonPool’s engagement with FIT will span a number of priorities, including tackling the challenges and opportunities to developing insurance solutions that support the net-zero transition. CarbonPool believes that our innovative in-kind insurance approach, a world-first, can serve as a template for other insurance companies seeking to mitigate the largest risks stakeholders face across the voluntary carbon market value chain. We are looking forward to engaging with FIT organisations and the wider global insurance industry on how our insurance solutions provide a crucial unlock for carbon investments, as well a key piece of the infrastructure required to build a more mature carbon market.

On the announcement, CarbonPool co-founder and CEO Coenraad Vrolijk, said: “CarbonPool is honored to become a FIT Participant and the first insurance startup to join. We firmly believe that insurance plays a critical role to de-risk climate actions that move us towards net zero. As part of the FIT, we will be working alongside UNEP and the global insurance industry to form a common approach to de-risking carbon outcomes, and to make the in-kind carbon insurance template that CarbonPool has pioneered accessible globally.”

UNEP’s Head of Insurance and FIT Chair Butch Bacani, said: “Developing insurance solutions that would accelerate and scale up the net-zero transition entails nurturing ideas and seizing opportunities across the entire insurance value chain—from underwriting policies and engagement with clients, through to financial risk protection and claims management. We are pleased to have CarbonPool on board the FIT to better understand and support the development of credible and innovative solutions to insure carbon markets, nature-based solutions and climate technologies needed in the transition to a net-zero economy.”