As the urgency to address climate-related challenges intensifies, there is increased interest in the role that voluntary carbon credits can play in helping organizations offset their carbon footprint as part of a wider effort to contribute to a more sustainable future. This is taking place at the same time that several governments are taking action to address the ongoing climate crisis through ambitious commitments to reduce carbon emissions.
However, this growing market comes with a complex set of risks, underscoring the importance of robust insurance offerings that allow organizations to transfer the risks of purchasing carbon credits and supports the innovative projects aimed at offsetting carbon emissions.
In this episode of Risk in Context, Amy Barnes, Head of Climate and Sustainability Strategy at Marsh, speaks with Ryan Bond, Head of Insurance Innovation for Climate and Sustainability; Andre Fernandez, Chief Executive Officer of Invert; and Chris Slater, Founder and Chief Executive Officer of Oka, The Carbon Insurance Company. They discuss the different types of carbon credits, challenges faced by the market, and the indispensable role of insurance in supporting the market’s evolution.
Head of Climate & Sustainability Strategy
Global
Amy Barnes heads Marsh’s climate and sustainability strategy. Prior to this she held a number of leadership roles with Marsh’s global energy, power, and renewables business. She has a respected depth and breadth of experience assisting some of the largest and most complex companies manage risks.
Head of Climate and Sustainability Insurance Innovation
Global
With more than 20 years’ insurance industry experience, Ryan is responsible for leading the global development of insurance solutions that support Marsh’s clients through the climate transition and help them achieve their commitments around sustainability and climate change. Prior to his current role, he was most recently Chief Executive, UK and Ireland, of Bowring Marsh, Marsh’s international placement business. Mr. Bond is a board member of the British Insurance Brokers’ Association (BIBA) and is also Chair of BIBA’s International & Wholesale Advisory Board.
Chief Executive Officer, Invert
Canada
Andre Fernandez is the co-founder and Chief Executive Officer of Invert, where he spearheads the organization’s investment and development of carbon reduction and removal projects as a means to conserve and restore the natural environment. Prior to co-founding Invert, he served as Chief Operating Officer of Canopy Growth and was previously part of the team that transformed Chrysler through the implementation of the World Class Manufacturing methodology when the car maker merged with Fiat.
Chief Executive Officer, Oka, The Carbon Insurance Company
United Kingdom
Chris Slater is the co-founder and CEO of Oka, The Carbon Insurance Company, where he is bringing his 20-plus years of experience scaling businesses with profit and purpose to global carbon markets. Together with his team he is working towards a future where every carbon credit is insured, enabling developers to unlock the capital required to scale high-impact climate projects and corporations to meet their net-zero targets. Previously, he spent 15 years as co-founder and COO of Simply Business, a UK/US-based insurtech.
