Hooray! Californians Can Now Buy Insurance Against Their Carbon Offsets Going Bust

Rest assured, California’s, that your government enforced carbon offsets can now be protected….by spending more money

The Climate Action Reserve, North America’s premier carbon offset registry, and Parhelion Underwriting Ltd., the leading innovator for carbon market insurance products, today announced a unique, strategic alliance to support the delivery of the first insurance product for compliance offset credits in California’s Cap-and-Trade Program. Under this alliance, Parhelion is offering insurance against invalidation for compliance offset credits that were transitioned from credits originally issued by the Reserve and the Climate Action Reserve will share its unrivalled experience and deep insight in to North American carbon offset projects, thereby, supporting the wider market development and helping its clients solve a critical risk issue.

The offsets program of California’s cap-and-trade market represents a key means for regulated companies to keep their costs of compliance manageable, which means extra costs are not passed on to consumers. It also provides a way to incentivize non-regulated industries to reduce their emissions. Parhelion’s offset credit insurance provides additional confidence for buyers and sellers to participate in this program.

What all this really means is protection from carbon offset plummeting into junk bond status, which they’ve done worldwide on a constant basis. Also, protection from fraud and abuse. I do love the part about the insurance also protecting citizens from not having to worry about all the costs of this ponzi scheme being passed on. Which it will, regardless.

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