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dc.contributor.authorRickels, Wilfrieden_US
dc.contributor.authorRehdanz, Katrinen_US
dc.contributor.authorOschlies, Andreasen_US
dc.description.abstractTo stay within the 2êC temperature increase target for climate change calls for ambitious emission reduction targets already for the 2012-2020 compliance period. Cost-efficiency is a crucial criterion for the enforcement of such ambitious targets, requiring analyses of all possible abatement options. Among others, enhancing the oceanic carbon sink by ocean iron fertilization (OIF) could be such an option. In our analysis we consider short-term large-scale OIF modeling experiments for a Post-Kyoto compliance problem to assess the economic prospects of OIF. Our analysis reveals that the critical unit costs per net ton of CO2 sequestered by OIF are in a range of 22 to 28 USD (price level 2000) assuming that the current limitations regarding the use of carbon credits generated in low cost countries and from forestation is completely relaxed. The critical unit costs are determined as those that would make an emitter indifferent between various abatement options. We are also able to show that already seven years of OIF in the area of 30ê south provide the same amount of credits equivalent to a global forestation project for the duration of 20 years. Over all and from economic perspective, our results indicate that OIF can be considered as an additional abatement option, but, further research, especially on adverse side effects, is needed.en_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel working paper 1573en_US
dc.subject.keywordClimate changeen_US
dc.subject.keywordsink enhancementen_US
dc.subject.keywordocean iron fertilizationen_US
dc.subject.keywordCO2 marketen_US
dc.subject.keywordemission tradingen_US
dc.titleEconomic prospects of ocean iron fertilization in an international carbon marketen_US
dc.typeWorking Paperen_US
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