Kiel Working Papers, Kiel Institute for World Economics
No 1523:
Ocean Iron Fertilization in the Context of the Kyoto Protocol and the Post-Kyoto Process
Christine Bertram
Abstract: Ocean iron fertilization is currently discussed as a
potential measure to mitigate climate change by enhancing oceanic CO2
uptake. Its mitigation potential is not yet well explored, and carbon
offsets generated through iron fertilization activities could currently not
be traded on regulated carbon markets. Still, commercial interests in ocean
iron fertilization already exist, which underlines the need to investigate
a possible regulatory framework for it. To this end, I first discuss
important basic aspects of ocean iron fertilization, namely its scientific
background, quantitative potential, side effects, and costs. In a second
step, I review regulatory aspects connected to ocean iron fertilization,
like its legal status and open access issues. Moreover, I analyze how the
regulations for afforestation and reforestation activities within the
framework of the Kyoto Clean Development Mechanism (CDM) could be applied
to ocean iron fertilization. Main findings are that the quantitative
potential of ocean iron fertilization is limited, that costs are higher
than initially hoped, and that potential adverse side effects are severe.
Moreover, the legal status of ocean iron fertilization is currently not
well defined, open access might cause inefficiencies, and the CDM
regulations could not be easily applied to ocean iron fertilization
Keywords: Ocean Iron Fertilization, Kyoto Protocol, CDM; (follow links to similar papers)
JEL-Codes: D62,; K33,; Q54,; Q58; (follow links to similar papers)
24 pages, June 2009
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