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Ocean Iron Fertilization in the Context of the Kyoto Protocol and the Post-Kyoto Process

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Author Info
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

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File URL: http://www.ifw-members.ifw-kiel.de/publications/publication.2009-06-29.2369793944/kwp-1523
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Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1523.

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Length: 24 pages
Date of creation: Jun 2009
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Handle: RePEc:kie:kieliw:1523

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Related research
Keywords: Ocean Iron Fertilization; Kyoto Protocol; CDM;

Find related papers by JEL classification:
D62 - Microeconomics - - Welfare Economics - - - Externalities
K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Marechal, Kevin & Hecq, Walter, 2006. "Temporary credits: A solution to the potential non-permanence of carbon sequestration in forests?," Ecological Economics, Elsevier, vol. 58(4), pages 699-716, July. [Downloadable!] (restricted)
  2. Katrin Rehdanz & Richard S.J. Tol & Patrick Wetzel, 2005. "Ocean Carbon Sinks And International Climate Policy," Working Papers FNU-60, Research unit Sustainability and Global Change, Hamburg University, revised Feb 2005. [Downloadable!]
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  3. Steven Shavell, 1984. "A Model of the Optimal Use of Liability and Safety Regulation," RAND Journal of Economics, The RAND Corporation, vol. 15(2), pages 271-280, Summer. [Downloadable!] (restricted)
  4. Kolstad, Charles D & Ulen, Thomas S & Johnson, Gary V, 1990. "Ex Post Liability for Harm vs. Ex Ante Safety Regulation: Substitutes or Complements?," American Economic Review, American Economic Association, vol. 80(4), pages 888-901, September. [Downloadable!] (restricted)
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