Since the Kyoto conference, new frameworks for greenhouse gases (GHGs) reduction, such as the Clean Development Mechanism (CDM), Joint Implementation (JI), and International Emissions Trading (JET) have been proposed. Implementation of these emerging concepts will change the perspective for biological CO
2 mitigation strategies. For example, conducting the CO
2 mitigation projects in non-Annex I countries rather than in the Annex I countries will lower both capital and operating costs of CO
2 mitigation projects. In addition, in some non-Annex I countries sufficient land might be available for the biological CO
2 mitigation, which may not be available in land-short Annex I countries. In this study, the impact of this new framework on feasibility of microalgal CO
2 mitigation technology was assessed and the feasibility of microalgal CO
2 mitigation for Japan in non-Annex I countries was examined. The results showed that implementing new frameworks will improve the feasibility of open-pond microalgal CO
2 mitigation systems. Even with conservative assumptions of productivity of 30 tCO
2/ha/yr with no revenue from the byproducts, open-pond microalgal CO
2 mitigation is competitive to alternative CO
2 mitigation technologies. With some favorable assumptions, CO
2 mitigation cost can be within the range of estimated international CO
2 prices.
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