Blenheim launches carbon credit and political risk coverage

Blenheim Partnerships, part of White Bear Group , has launched a political risk insurance product covering carbon credits and regulatory risks tied to CORSIA, the global carbon offsetting scheme for aviation.

The product, called SCREW—Sovereign Corresponding Adjustment Revocation & Enforced Withdrawal—combines traditional political risk coverage with protections required by carbon standards participating in CORSIA. It is designed to protect against sovereign and regulatory actions affecting eligible carbon credits, particularly in developing markets.

Gold Standard, which certifies carbon credits eligible for use under CORSIA, has added the product to its list of approved insurance policies.

The offering was developed and is led by Edward Parker, senior underwriter for special risks at Blenheim Partnerships.

“As demand grows under CORSIA in the coming years, the supply of high-quality eligible credits will also need to scale up. Expanding the pool of approved insurance providers, through recognition of Blenheim’s new policy, is one of the ways in which Gold Standard is helping project developers to supply the CORSIA market from strong foundations.” – Sarah Leugers, chief growth officer at Gold Standard.