In a recently published article entitled ‘Equitable Marine Carbon Dioxide Removal: The Legal Basis for Interstate Benefit-Sharing’, Neil Craik from the University of Waterloo has explored the reasons why the benefits flowing from marine carbon dioxide removal (mCDR) should be shared between states, the institutional arrangements that need to be in place to create a forum for inter-state benefit-sharing and the exigencies that need to addressed via inter-state benefit-sharing.
Key takeaways from the article:
- Given that developed countries possess the majority of technical resources that are essential for engaging in mCDR activities, they can reap most of the benefits from exploiting ocean resources shared between states.
- To obtain equitable outcomes, benefits flowing from the exploitation of ocean resources via mCDR should be shared between states by giving due weight to the goals developing states seek to achieve.
- Arrangements with respect to benefit sharing must be made with the participation of all states.
- During the negotiations that are made to facilitate benefit-sharing, the benefits that can be derived from mCDR techniques such as climate mitigation and ocean deacidification must be considered. That said, the presence of such benefits should not prevent the sharing of financial benefits arising from mCDR.
Read the full paper here: Equitable Marine Carbon Dioxide Removal: The Legal Basis for Interstate Benefit-Sharing