Optimal global carbon management with ocean sequestration
The papers in this cumulative thesis deals with questions which arise from the inclusion of the oceanic carbon sink into economic analyses about climate change. First, what is an appropriate description of the global carbon cycle, in particular with respect to the oceanic carbon sink in economic models? Second, since natural forces transport carbon into the deep ocean where it affects society less adversely than in the atmosphere, the logical question is: Which carbon removal measures can be applied to accelerate the process of downward carbon transfer? Third, to integrate these measures into economic optimization, how can the carbon uptake be measured and verified, how can carbon credits be assigned, and how to deal with carbon that it is only temporarily stored and expected to leak back into the atmosphere at some point in the future? Fourth, what are the critical costs and critical carbon amounts to be removed from the atmosphere in order to provide an option for climate change mitigation in comparison to existing options? Fifth, what is the dynamic optimal application of such measures in climate change policy? The papers in this cumulative thesis provide answers to these questions by investigating the role of CDR measures in relation to RM measures, by considering accounting and market requirements to one specific oceanic CDR measure, ocean iron fertilization, and by deriving the dynamic optimal carbon sequestration strategy for various climate policies.