Blenheim Partnerships, part of the White Bear Group, has launched a new political risk insurance product for carbon credits. The product, called SCREW, covers sovereign corresponding adjustment revocation and enforced withdrawal risks. It is designed for project developers supplying credits under CORSIA, the aviation industry's carbon offsetting scheme. Gold Standard has already approved the policy for use by its project developers. The product blends traditional political risk coverage with carbon standard requirements. This is the first time a private political risk underwriter has offered this type of combined coverage. It addresses a specific gap in the carbon market where sovereign and regulatory risk can block project finance or credit sales. For developers in developing territories, this kind of insurance could make the difference between a project getting built or not.
