10043204Carbon credit protection insuranceClosedGrant for R&DInnovate UKKita's vision is to be the world's first carbon insurer, de-risking carbon removal solutions to enable faster scaling to fight climate change.The Intergovernmental Panel on Climate Change states we need to remove billions of tons of CO2 annually for the remainder of the 21st century to enable a liveable and sustainable future for all. To put that into perspective, annual emissions today from human consumption of oil and gas products is 20 billion tons. If it takes a trillion dollar oil and gas industry to emit 20 billion tons of CO2, then a trillion dollar carbon removal industry will be needed to remove that same amount by 2050\. This is a scale-up task at unprecedented speed and magnitude, and it represents a huge opportunity for a new insurance market. Likewise, insurance is essential to enable this rate of growth. This is why Kita's focus is developing innovative new insurance products in the emerging carbon removal space.