Climate experts raise $12 million for the world’s first carbon credit insurance company

(Photo: Freepik)

CarbonPool is set to be the first insurance company in the world with a carbon credit balance sheet. The firm announced the closure of a $12 million funding round on Jan. 29.

Many firms depend on carbon credits to achieve their net zero goals. But after considerable turbulence in carbon credit markets, credit integrity, proper risk underwriting and certainty of outcomes are more important to reassure investors, regulators, and other stakeholders that these promises represent real environmental gains.