Thursday, January 24, 2008

Is Climos the Next Planktos? (ECO.L; PLKT.PK)

Two differences to note up top:
1) Climos is at present, privately held.
2) Climos is a bit more sophisticated in their approach.
Here's a story from last month:

Climos Receives First Methodology for Ocean Iron Fertilization from EcoSecurities, Signs with DNV for Validation

Climos, a company that is developing an ocean iron fertilization technology for the biogeochemical storage of carbon in the ocean, announced that EcoSecurities—one of the world’s leading companies in the business of originating, developing and trading carbon credits—has prepared a draft version of a methodology for Ocean Iron Fertilization (OIF), based on precedent established by the Kyoto Protocol’s Clean Development Mechanism.

Under Kyoto, a methodology is used to prove the removal of a certain quantity of CO2 from the air. Any technology that is to generate certified emissions reductions (CERs) for sale in the carbon market requires such a methodology. The delivery of the methodology to Climos, then, is a necessary step toward the commercial viability of the technology.

Research and drafting of the methodology was led by Kevin Whilden, Climos Director of Market Strategy, together with Dr. Margaret Leinen, Climos Chief Science Officer; Dr. Anthony Michaels, Director of the Wrigley Institute for Environmental Studies at the University of Southern California; and Jessica Wade-Murphy of EcoSecurities’ Global Consulting Services practice....MORE at Green Car Congress.

Climos has gotten generally uncritical mention in the blogosphere over the last couple weeks.

On Tuesday Russell Seitz at ADAMANT had a post relevant to the ocean fertilization/carbon trade issue:
Going Overboard On Carbon Offsets

...Though there is business in great waters, Weather Bird II may be bound for an iron shore. Writing in the International Journal of Marine and Coastal Law. Kristina Gjerde, high seas policy advisor to the World Conservation Union contends :

"Current proposals to combat climate change by stimulating phytoplankton or algal blooms in the ocean may violate fundamental principles of international law...Adding nutrients, such as iron or nitrogen... should not be considered as a potential solution to climate change.

We first need regulations...Difficulties in actually proving or verifying carbon dioxide sequestration... make the current informal and unregulated market for carbon offsets vulnerable.

One company is already offering carbon offsets to the public on its website to support its law and common sense should not be the first victims...The con...needs to be stringently scrutinised through independent peer-reviewed science, not left in the hands of entrepreneurs...we need to be able to regulate any... benefits... governments should apply similarly rigorous standards to all proposed "geo-engineering" solutions.

  • The article has already proven fruitful. In responding that: "The idea of private companies offering "carbon offsets"...would just end up as a scam to generate profit for companies pedalling dubious science." Cambridge's Paul Lockwood may have answered the age-old question of why a fish needs a bicycle. On the admiralty law side, perpetrators of offshore carbon offset piracy can now breath easy....