How Furthr is helping Canopius take a high-integrity approach to carbon credits
About Canopius
Canopius Group is a leading global specialty and P&C (re)insurer, with underwriting operations across the UK, US, Bermuda, Singapore and Australia, operating across Lloyd’s and international insurance markets.
As part of its broader sustainability work, Canopius wanted to complement its emissions measurement and reduction efforts with informed, credible climate contributions.
The group sought support to strengthen its emissions data, engage employees on the role of carbon markets, and identify high-integrity projects aligned with its global footprint and sustainability objectives.
Olivia Brindle
Head of Sustainability
Canopius
When evaluating the carbon projects we wanted to support, we focused on two key criteria. Firstly, we wanted projects that reflected our global footprint, helping to foster meaningful local engagement. Secondly, we looked for initiatives that delivered strong social value alongside measurable carbon benefits.
42%
of Canopius’ global supply chain measured using audit-grade greenhouse gas (GHG) methods
90+
employees engaged through carbon markets education and project selection
3
climate projects supported across 3 regions - UK, Americas and APAC
Overview
Furthr partnered with Canopius to support its emissions measurement, improving the quality and transparency of its greenhouse gas (GHG) reporting, and translating emissions data into practical reduction activities. As part of the partnership, Furthr also helped Canopius assess carbon credit projects against key criteria, including additionality, permanence, leakage and community co-benefits.
● Geographic alignment: Finding high-quality projects that mirrored its global
footprint while enabling tangible local engagement.
● Dual-impact criteria: Balancing carbon reduction goals with certified social
value that directly benefits local communities.
● Additionality and real-world impact: Ensuring projects delivered credible,
measurable climate outcomes while targeting areas where carbon finance could enable tangible change.
Key challenges to address
Taking carbon management Furthr
As part of Canopius' wider carbon management programme, Furthr manages Canopius' annual greenhouse gas (GHG) measurement in line with ISO 14064-1. Using detailed supplier and usage data, Furthr helped Canopius strengthen the accuracy of its emissions baseline, with 42% of its global supply chain now measured using high quality, audit-grade GHG methods.
Alongside its ongoing emissions measurement and reduction work, Canopius wanted to explore how carbon offsetting could support its wider sustainability programme.
Employee engagement
Furthr worked with Canopius to put employees at the heart of carbon offsetting project selection. To support informed decision-making, Furthr delivered educational sessions covering the role of climate projects within a broader emissions reduction strategy, different project types and methodologies, and the quality criteria when selecting carbon offset projects.
More than 90 employees participated in these sessions, helping colleagues build a deeper understanding of carbon markets, climate finance, and the practical considerations involved in selecting high-quality projects.
Canopius’ employees then took part in a company-wide vote, giving colleagues a direct role in determining where climate finance would be directed. The result was a geographically diverse portfolio of projects aligned with Canopius’ international business and employee base.
The selected projects
The selected portfolio demonstrates the potential for carefully chosen climate projects to deliver wider benefits beyond emissions reductions. Projects supported include:
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Mangrove restoration in Pakistan, helping restore important coastal ecosystems while supporting local communities.
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Indigenous forest conservation in Mexico, supporting biodiversity protection and indigenous land stewardship.
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Social housing decarbonisation in the UK, helping improve the energy efficiency of homes while supporting residents through lower energy consumption and improved living conditions.
Bringing impact to life
To strengthen the connection between climate contributions and real-world outcomes, Canopius’ London-based colleagues and the Furthr team visited the UK social housing decarbonisation project. The visit provided an opportunity to see the project’s impact beyond the carbon data, including how climate finance can support practical improvements in people’s homes and communities.
The selected projects
As part of its wider carbon management programme, Furthr manages Canopius' annual GHG measurement in line with ISO 14064-1. Using detailed supplier and usage data, Furthr helped Canopius strengthen the accuracy of its emissions baseline, with 42% of its global supply chain now measured using high quality, audit-grade GHG methods.
Alongside its ongoing emissions measurement and reduction work, Canopius wanted to explore how carbon offsetting could support its wider sustainability programme.
The impact
Through its collaboration with Furthr, Canopius has enhanced its emissions measurement and reporting activities, increased employee understanding of carbon markets and climate finance, and given employees a direct role in project selection through a company-wide vote.
As part of this work, Canopius supported a portfolio of high-quality climate projects across the UK, the Americas and APAC, delivering environmental outcomes alongside wider social and community benefits. The partnership provided Canopius with opportunities to share project updates and insights, helping to raise awareness of high-integrity climate action within the organisation and beyond.
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