Solar Radiation Management and the Voluntary Carbon Market

Climate models suggest that Solar Radiation Management (SRM), such as by means of Stratospheric Aerosol Injection, could counteract the warming effects of greenhouse gases, though not with total effectiveness. As far as the regulation of SRM is concerned, scholars have focused typically on public, state-based regimes such as those provided by international treaties. The evidence suggests that SRM may also cause a reduction in atmospheric CO2, thereby creating potential carbon credit accrual. The emergence of private interests, in the form of credits tradeable in the voluntary carbon markets, represents a new challenge for the effective public regulation of SRM. Without an appropriate response, major, novel and potentially unacceptable risks to the climate system, biosphere and society may occur.