Covering A New Angle...
In 2023 MyCarbon partnered with Planet Moja (a curator of carbon removal, reduction and biodiversity projects in Africa), to help GA Insurance establish a new form of carbon-neutral insurance cover designed exclusively for electric vehicles.
This collaboration established a pioneering reduction initiative via Kenyan offsetting projects and is a first on the Kenyan insurance market, setting the benchmark for best practice in terms of those looking to offer compensation and cover for unavoidable emissions.
Going The Extra Mile
Although emissions generated by EVs are relatively low already in Kenya, thanks to 80% of grid energy being produced through renewable sources, there are still some emissions that are caused by driving these vehicles...emissions that MyCarbon needed to understand in order to calculate the theoretical impact of the insurance product. Something which had never been attempted before!
MyCarbon worked with Planet Moja and GA Insurance to complete a lifecycle assessment of the proposed 'Eco Drive Cover' insurance policy, and delivered a PAS 2060 certification.
GA Insurance then formally declared a purchase of independently verified carbon credits to match the tonnes of unavoidable emissions per policy.
The Fine Print
The really clever bit?
The MyCarbon team worked out a brand new methodology to calculate the emissions that would be specifically associated with insuring the car, compared to the other costs an owner might face running a car. An impressive six classes of vehicles were covered here!
And now, thanks to this innovative solution, policy users can be reassured that they have a fully validated carbon-neutral policy!
The Final Destination
Planet Moja and GA Insurance now proudly support Kenyan projects within their carbon offsetting strategy, offering innovative climate-conscious insurance solutions in Kenya.
Some of the independently verified projects used were Project BURN (utilising cookstoves to reduce dependence on charcoal for cooking) and project Kasigau Wildlife Corridor which protects natual reserves of carbon whilst also safeguarding endangered wildlife along major Kenyan travel routes.
This project, and MyCarbon's unique approach to carbon accounting in the insurance sector, has now set a new standard in the region for environmental responsibility.
"In launching our carbon neutral GA Eco Drive Cover policy, we required a rigorous professional approach to assessing our product and achieving certification by MyCarbon & Planet Moja exceeded our expectations.
What truly stood out was their ability to blend a wealth of worldwide knowledge with a deep understanding of the specific Kenyan context. The discussion and reports were thorough, clear and very effective in raising our understanding of carbon management and sustainability strategy.
We truly appreciate the effort that Planet Moja put into this exercise and look forward to expanding our partnership.“ (Margaret Amondi, Actuary, GA Insurance Limited)
Partner with MyCarbon
For anyone looking to navigate the intricacies of net zero and science-based targets, we at MyCarbon are here to guide the way. Connect with us using the form below or by emailing email@example.com