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Marsh and We2Sure launch insurance and pre-purchase verification to combat counterfeit carbon credits and reduce financial and reputational risk

Published on: 05 November 2024

Published by a Law360 reporter
Legal News
Article summary

Marsh stated that the facility is designed to help firms manage the mounting risks associated with certificates that signify a reduction or removal of carbon dioxide from the atmosphere. These certificates are typically issued by third-party verification bodies and are purchased by businesses to offset their own emissions. Yet the insurance broker warned that the carbon credit market is being targeted by criminals who peddle counterfeit certificates or credits tied to projects that do not exist.

‘As carbon credits become a core component of corporate strategies to meet net-zero targets, companies are left more exposed to fraudsters seeking to profit from this expanding market,’ said Rupert Poland, Marsh’s UK digital asset lead. ‘The lack of standardisation and transparency in the...

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