Ping An P&C – Kelp/Seaweed Index Insurance

Ping An Property & Casualty Insurance has launched its first ocean carbon sink index insurance policy in Dalian, providing RMB 400,000 in carbon sink risk protection for 8866.67 square metres of kelp, shellfish, and algae. This follows the company’s 2021 pilot of forest carbon sink remote sensing index insurance and expands coverage across terrestrial and marine ecosystems including forests, mangroves, and grasslands.

The insurance provides compensation when environmental changes damage marine species and weaken carbon sink capacity, with funds directed toward post-disaster species rescue, ecological restoration, and carbon sink resource recovery. The product also enables carbon sink indicators of marine aquaculture to be listed and traded, increasing fishermen’s income by converting marine carbon sinks from resources into tradeable assets.