Financial Opportunities
Since the advent of the Kyoto Protocol, several countries and the European Union have established carbon offset markets which trade certified emission reduction credits (CERs) and other types of carbon credit instruments internationally. In 2007 CERs sold for approximately €15–20/ton COe
2. Iron fertilization is relatively inexpensive compared to scrubbing, direct injection and other industrial approaches, and can theoretically sequester for less than €5/ton CO2, creating a substantial return. In August, 2010, Russia established a minimum price of €10/ton for offsets to reduce uncertainty for offset providers. Scientists have reported a minimum 6–12% decline in global plankton production since 1980, A full-scale international plankton restoration program could regenerate approximately 3–5 billion tons of sequestration capacity worth €50-100 billion in carbon offset value. Given this potential return on investment, carbon traders and offset customers are watching the progress of this technology with interest.
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