|Climos Receives First Methodology For Ocean Iron Fertilization From EcoSecurities, Signs With DNV For Assessment
SAN FRANCISCO, California (December 3, 2007) -- Climos, a company
dedicated to removing carbon from the atmosphere, today announced that
EcoSecurities has prepared a draft version of a methodology for Ocean
Iron Fertilization, based on precedent established by the Kyoto
Protocol's Clean Development Mechanism. This methodology has been
delivered to DNV (Det Norske Veritas) for assessment, in preparation
for its implementation at a specific project site. Climos and DNV
recently signed a contract for project methodology assessment services.
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.
"We are pleased to announce the completion of a key step in the
development of the first methodology for Ocean Iron Fertilization,"
said Dan Whaley, Climos CEO. "Climos is committed to working with the
best partners in the industry to bring a robust and verifiable approach
for this new technology to market."
"Rigorously defined methods and comprehensive verification
procedures are absolutely critical to the success of carbon
sequestration methodologies and markets." said Dr. Michaels, an
oceanographer specializing in biogeochemistry, nitrogen and carbon
cycling. He continued "I applaud Climos in both the quality of this
method and their willingness to involve independent scientific experts
from major research universities in both the creation of the method and
in its assessment. We all agree that we must set a very high bar for
quality so that we know that carbon has been safely sequestered and we
can balance these benefits with any potential costs and risks."
Dr. Mark Trexler, Director of Global Consulting Services for
EcoSecurities said, "EcoSecurities is committed to innovating leading
edge methodologies for carbon reduction sectors and technologies that
can help set the stage for the greater emissions reductions needs of
future carbon markets."
The elements of the methodology together with an overview of science
and policy considerations will be presented Tuesday at 10am in a panel
session cosponsored by IETA (International Emissions Trading
Association) at this year's Conference of the Parties (COP 13)
beginning in Bali this week.
Climos is a company dedicated to removing carbon from the
atmosphere. Founded in California's Silicon Valley by entrepreneurs Dan
Whaley and Richard Whilden, Climos' scientific research is overseen by
Dr. Margaret Leinen, former Assistant Director of Geosciences at the
National Science Foundation (NSF). Climos is guided by a Scientific
Advisory Board that includes some of the world's experts in ocean,
earth and climate science.
EcoSecurities is one of the world's leading companies in the
business of originating, developing and trading carbon credits.
EcoSecurities structures and guides greenhouse gas emission reduction
projects through the Kyoto Protocol, working with both project
developers and buyers of carbon credits. EcoSecurities has experience
with projects in the areas of renewable energy, agriculture and urban
waste management, industrial efficiency, and forestry. With a network
of offices and representatives in over 20 countries on five continents,
EcoSecurities has amassed one of the industry's largest and most
diversified portfolios of carbon projects. Today, the company is
working on more than 400 projects in 36 countries using 18 different
technologies, with the potential to generate more than 150 million
carbon credits. EcoSecurities Group plc is listed on the London Stock
Exchange AIM (ticker ECO.L).
About Ocean Iron Fertilization
Ocean Iron Fertilization involves the application of iron at trace
concentrations in iron-limited regions of the ocean to accelerate the
growth of phytoplankton. This process is intended to remove large
quantities of carbon from the atmosphere as an approach to mitigating
the effects of global warming. It has been demonstrated experimentally
in 12 publicly funded open ocean experiments since 1993. A natural part
of Earth's carbon cycle, phytoplankton production sequesters over 3
billion tons of CO2 from the surface ocean to deep water every year in
a process referred to by oceanographers as the "Biological Pump". Over
the last billion years, this mechanism has been primarily responsible
for the concentration of over 80% of Earth's mobile carbon in the deep
ocean. Oceanographers first confirmed in 1988 that iron is a limiting
factor on phytoplankton productivity in many of the world's oceans.