A spokesperson said, “These will, for the first time, value the combined carbon sequestration and resilience benefits provided by coastal wetland ecosystems. Support provided by XL Catlin will allow TNC to explore the development of a system of credits assigning a market value to the resilience services provided by these ecosystems, which are historically undervalued.

“The hope behind this initiative is that, for the first time, insurance firms and other businesses will be able to offset their carbon footprint while simultaneously better understanding the contribution they are making to reducing coastal hazards in the world’s most vulnerable coastal areas.