Head of Market Research

Ending 2025 on a high: Verra joins Gold Standard in approving Oka as CORSIA policy provider. Dec 19, 2025 As 2025 draws to a close, Oka is making meaningful momentum across sales, partnerships, and underwriting capacity. Read the highlights and find out what's in store for early 2026. Registry approvals: Oka is now embedded in CORSIA I'm thrilled to close out 2025 with news that translates into material tailwinds for Oka as Carbon Insurance Company step into 2026. Today, global carbon registry Verra approved Oka's Corresponding Adjustment Protect (CAP) as an official policy for credits traded under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). The Verra announcement comes two months after fellow registry Gold Standard approved CAP, making it one of the few policies available to developers seeking access to the (world's first) global and mandatory private-sector offsetting scheme. This latest update formalises insurance (and CAP, specifically) as part of the regulatory infrastructure. The policy - now procurement requirement - provides developers with a clearer and faster route to market, while also supporting airlines planning forward purchases before mandatory offsetting enters effect in 2027. Since inception, Oka has designed risk solutions to help the carbon market scale with integrity. This latest milestone supports that ambition directly: * Backed by an approved policy, developers can access the market without delay, injecting much-needed credit supply and returning material commercial benefits. * International airline buyers gain assurance on credit validity and regulatory compliance: a baseline risk-management standard in other mature markets. * By unlocking supply and facilitating early contracting, insurance boosts confidence in the world-first global private sector offsetting scheme - setting an important precedent for climate action. With nearly 50m credits in the CORSIA pipeline, this milestone is just the beginning. With registry approvals in place, Oka has gained fast traction with early movers. Since October, Carbon Insurance Company has been working with a number of leading developers applying for CORSIA tags - just this week, BURN Cookstoves unveiled the first CORSIA credits tagged through CAP. CORSIA stole the headlines this quarter, but CAP is not the only policy making market inroads - and firsts. This quarter, Carbon Insurance Company announced two further partnerships: with Argentinian exchange BACX on insured exchange-traded carbon credits; and with trading platform 1089 on insurance-backed Advanced Fuels Credits. Each is an industry 'first' and brings Carbon Insurance Company closer to establishing embedded insurance as an industry standard, validating Oka's starting thesis that every carbon credit must ultimately carry cover. Together, these partnerships demonstrate how insurance can unlock high-quality supply and lower-friction routes to capital for developers. Building on recent foundations, its 2026 focus will be to scale distribution reach and underwriting capacity. Carbon markets are finally converging: compliance dovetailing with voluntary; local initiatives feeding into national policy and international interoperability. Thanks to the commitment of its team and partners, Oka is concurrently cementing its position as a leading player in the fast-moving global ecosystem. To that end, my focus for next quarter will be boots-on-ground engagement, as I visit and meet with policymakers and developers across its key markets in Asia (January), the Middle East (February), and Africa (March). Expect further partner announcements as pipelines continue to convert to signed placement; additional registry approvals as assessment processes come to a close; and new product and policy innovations as Carbon Insurance Company accelerate progress towards Oka's founding mission.

Kenya's BURN has secured $80 million from TDB Group to expand its clean cookstove operations in Mozambique, DRC, and Zambia, targeting 430,000 households. The investment will subsidize customers in exchange for future carbon credits. BURN's IoT-enabled stoves aim to reduce emissions and indoor air pollution, impacting over 2.1 million people and preventing 3 million tonnes of CO₂ emissions. The funding supports BURN's growth across Africa, enhancing energy access.