May 30, 2008

At the 29th Consultative Meeting of the Contracting Parties to the London Convention (LC) in November 2007, the Parties adopted a Statement of Concern on Ocean Iron Fertilization (OIF) and established a scientific working group to address the issue of OIF. That group convened at the meeting of the LC Scientific Group (SG) in Guayaquil, Ecuador the week of May 19. The SG and supporting delegations prepared extensively for its closer review of OIF issues.

At the Guayaquil meeting, Climos presented a detailed briefing on OIF. The briefing addressed the scientific basis for larger and longer experiments as suggested by the international scientific community, including previous research results, responses to the SG’s Statement of Concern, and a description of our plan in support of an independent scientific research program and demonstration. In addition, Climos reviewed for delegates its anticipated near term activities, including the development of a detailed Environmental Impact Assessment of OIF by a major environmental consulting and engineering firm to be released later this year. We also provided detailed responses to Greenpeace's critique of OIF that had been released in the intersessional period since the Statement of Concern. (This is available for download at www.climos.com)

Climos understands that the LC will release a report on the deliberations of the Guayaquil SG meeting on OIF in the near future. This report will reflect the group’s science-based review of the LC’s prior Statement of Concern and further scientific considerations for OIF activities. The SG report is intended to be a key element in the policy discussions on OIF during the next full LC meeting in October 2008. Climos looks forward to continuing to work with the relevant expert bodies under the London Convention as they develop their review of OIF and related issues.

With regard to the recent decision adopted by the Parties to the Convention on Biological Diversity (CBD), although we have not seen a final version of the decision, we understand that it acknowledges the ongoing consideration of OIF by the LC over the last year, including its interaction with prominent members of the international ocean science community. We further understand that the CBD statement calls for additional scientific research, a precautionary approach and appropriate regulatory controls for OIF activities -- objectives that have been shared by Climos since its inception.

Climos agrees that OIF activities should proceed only where there is an adequate scientific basis to justify them, including assessing associated risks, and should be subject to an appropriate regulatory framework including any permits required pursuant to the IMO LC process. Climos encourages the LC to develop regulatory guidelines to help assess and control future OIF activities. Moreover, as we have previously stated, no sale of carbon credits from OIF projects should take place unless those projects are shown to be effective and the environmental impacts understood. Climos looks forward to interacting with the CBD parties and the SBSTTA to develop and share relevant scientific and technical data relating to these issues, including the information developed as part of the scientific review under the LC process.

Climos is a climate company dedicated to leveraging natural processes to remove carbon from the atmosphere.

Climos was founded in California's Silicon Valley by entrepreneurs Dan Whaley and Richard Whilden. Our 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.

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