2. 2 OCEAN IRON FERTILIZATION A perspective on responsible commercial approaches Margaret Leinen Climos, Inc. Further material at: climos.com/iucn.php

3. 3 "From a conservation perspective, a major attraction of biodiversity business is the potential to generate new and additional investment in conservation activities. "At the same time, some people remain skeptical of the motives of the private sector; while others worry that market-based approaches may distort conservation priorities. "Nevertheless, this report argues that not exploring what markets can deliver is no longer an option. -IUCN Report: Building Biodiversity Business (March 2008)

4. Emissions are above scenario projections: 50-year constant growth rates to 2050 B1 1.1%, A1B 1.7%, A2 1.8% A1FI 2.4% Observed 2000-2006 3.3% 2006 2005 Raupach, et al., 2007

5. Smallest extent of Arctic sea ice ever measured September 2005September 2007 US National Snow & Ice Data Center, 2007

6. 6 What are the concerns about OIF? ▪ Efficacy — It won’t work ▪ Safety — It might harm the ocean ▪ Risk of unintended consequences

7. 7 Nov 2007 Jan 2008 Apr 2008 Mar 2008

8. 8 How can the uncertainties be addressed? - recommendations from Science Policy Forum/SCOR/IOC statements: Larger and longer field studies New production and respiration Subsurface measurements of fate of carbon, including pH Broad assessment of ecological impacts (food web, potential for toxins, etc.) In-patch and downstream effects Air-sea flux Understanding O2, N2O, and other gases Long term monitoring Modeling temporal and spatial sequestration and impacts Comparison of OIF benefits relative to other strategies

9. 9 OIF impacts Important to distinguish the impacts of a few experimental patches from long term consequences of large scale commercialization International Oceanographic Commission ad hoc group has emphasized that experimental patches will not harm the ocean

10. 10 About Climos Founded in 2006 to pursue large scale mechanisms to mitigate global warming – including ocean iron fertilization Private sector funding and public sector science Committed to working collaboratively with scientists, NGOs and regulators Science Advisory Board includes some of the world’s leaders in ocean and climate sciences

11. 11 Ensuring integrity: Climos voluntary code of conduct Science concerns Independence Quality of science Transparency and availability of data Regulatory approval Following IMO guidance Environmental Impact Assessment Avoiding sensitive areas Compliance with local regulations Market concerns Methodology Verification Registration

12. 12 Ensuring integrity: Climos voluntary code of conduct Science concerns Independence Quality of science Transparency and availability of data

13. 13 Our Proposal Fund a series of 4-5 annual moderate scale (200 x 200km) demonstrations of ocean iron fertilization (OIF) in the same location Conducted by the international research community, funded by the private sector Expand on the number and sophistication of sequestration measurements Equal emphasis on carbon sequestration efficiency and environmental impact Total freedom to publish all results All data made publicly available immediately

14. 14 Regulatory framework IMO/LC Scientific Group met in summer 2007 Per requests by Greenpeace and the IUCN, issued a “statement of concern” about OIF IMO/LC parties met in London, Nov 2007 Consider themselves appropriate body to consider, regulate Established ad hoc OIF study group expressed caution about issuing permits Said “large scale” not yet justified LC Scientific Group meeting May 19 to 23 in Guayaquil, Ecuador Received science community justification for 200x200km scale experiments Climos presented on our activities Will report back to LC later this month

15. 15 Ensuring integrity: Climos voluntary code of conduct Regulatory approval Follow IMO guidance Environmental Impact Assessment Avoiding sensitive areas (MPAs, etc.) Compliance with local regulations

16. 16 Our Proposal Located in international waters – far from shore where water depth is 3000-5000m All activity in accordance with the International Maritime Organization London Convention on Ocean Dumping Peer-reviewed Environmental Impact Assessment Model Environmental Impact Assessment for specific area

17. 17 Ensuring integrity: Climos voluntary code of conduct Science concerns Independence Quality of science Transparency and availability of data Regulatory approval Following IMO guidance Environmental Impact Assessment Avoiding sensitive areas Compliance with local regulations Market concerns Methodology Verification Registration

18. 18 Our Proposal Peer-reviewed methodology published in advance Validation of methodology by independent verifier Verification of measurements and models by independent verifier Registration of all CO2 sequestered No credits sold unless verified

19. 19 12 month plans Complete peer-reviewed environmental assessment Work with IMO LC to identify permitting needs for moderate scale projects International science outreach Co-host series of science workshops Identify lead scientist and process for completing science team Complete project design, identify location Develop methodology Agreement with verifier Seek approval(s)

20. Further material at: climos.com/iucn.php