Pula Advisors

At a Glance


Financial Services and Insurance

Project Types

Financial Evaluation and Planning, Sustainability and Energy Management Strategy




New Delhi


Shehanas Pazhoor worked with PULA Advisors to conduct a study on leveraging carbon credits for smallholder farmers to pay for crop insurance premiums.


Pula is an insur-tech firm that provides agriculture insurance design and execution services, specializing in index-based insurance. Since 2015, Pula has provided climate insurance to millions of smallholder farmers, 31% of whom are women across markets in Africa and Asia. Pula is exploring ways to promote private investment to mitigate GHG emissions by involving smallholder farmers.

Shehanas’ project aimed to foster understanding of the various possibilities and challenges of carbon farming for smallholder farmers, as well as support Pula in their work with farmers. 


Shehanas approached the assignment in the following manner:

  • Report on carbon credit pathways and landscape: Using secondary research and key informant interviews, Shehanas developed a guide to the basics of carbon farming and carbon credit possibilities for smallholder farmers by highlighting opportunities and challenges in the ecosystem. She also listed and analyzed recent developments in global carbon markets.
  • Designing pathways for Pula: Based on the report she developed, Shehanas created “go/no go” options in developing carbon farming projects.
  • Cost estimation: Based on the analysis of the various projects under the existing carbon standard registries, Shehanas developed a cost estimation for Pula by highlighting the various steps involved and capacities required at the institutional level. 
  • Estimation of per-hectare and project-based carbon sequestering potential: Using the FAO EX- ACT tool, Shehanas presented the carbon sequestration potential of carbon farming project by taking into account factors such as climate, geography, soil type, farm management practices and crops involved. 

Potential Impact

Understanding the landscape, process and recent developments are crucial in designing carbon credit projects for smallholder farmers. Moreover, cost estimations and per-hectare and per-project sequestration potential of various techniques in carbon farming will help in selecting the ideal solutions at an institutional level. A third-party analysis on carbon credit pathways for Pula as an insur-tech company was thus a necessity.

Using this roadmap, Pula is now is better positioned to design and engage with various stakeholders in the carbon credit ecosystem. 

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