2.3 Legal and regulatory

Does the project have clear permission to operate and an understanding of the legal and regulatory frameworks that impact the proposed activities?

Our principles

• Clear permitting or permission to operate must be secured from relevant jurisdictions prior to planned deployments.

• Any potential conflicts with other ocean users must be evaluated and effectively managed.

• Where possible, Running Tide will advocate for regulation to enable the responsible implementation of positive interventions.

• The precautionary principle is considered in relation to our responsibility to act and the declining baseline state of the ocean.

How we demonstrate these principles

• Running Tide’s current research projects are conducted under Icelandic jurisdiction within their exclusive economic zone (EEZ) with the full approval of the Icelandic government and all relevant environmental agencies via a permit. The Icelandic government determined that the permit, which allows for research deployments over a four year period, is compliant with all international obligations and relevant treaties, including the United Nations Convention on the Law of the Sea (UNCLOS) and the London Convention/Protocol, which Iceland is a party to.

• Running Tide states within our Framework Protocol that “clear permitting and permission to operate at the relevant local, state, federal, tribal, and international levels must be demonstrated prior to planned deployments”. Projects that do not meet this requirement are not eligible to move forward.

• Running Tide’s evaluation of the international legal frameworks and open ocean carbon removal regulatory considerations that impact our work will be publicly available in the coming weeks, which we plan to maintain and update regularly. Within both that legal evaluation and our Framework Protocol, we clearly document how the precautionary principle is effectively applied within the context of our work. It is our belief that the precautionary principle, enshrined in international legal frameworks, suggests nations also have a legal responsibility to act, and requires that they must do everything in their power to prevent the known consequences of climate change on the ocean and terrestrial ecosystems.

• Running Tide will continue our work of advocating for the creation of clear regulatory and permitting frameworks that enable our work, in the United States and abroad.

As Running Tide’s current research deployments are at a small scale and conducted in the open ocean outside of shipping lanes or areas of traditional commercial activity, our interactions and potential conflicts with other ocean users has been limited to date. We expect this to become an increasing area of focus as our geographic footprint expands. Additionally, we understand that the legal landscape related to carbon removal and ocean-based activities can change rapidly and will require us to adapt in order to maintain conformance with relevant laws and regulations.