The Earth is in trouble. But the ocean can help.
When it comes to tackling climate change and the biodiversity crisis, the ocean and the world’s coastlines offer many solutions. Yet these solutions don’t receive anywhere near enough money to realize them. And while governments and philanthropists should provide more funding, they can’t meet the challenge alone. Investments from the private sector are equally key to success.
Entrepreneurs across the world need support to integrate restoration and conservation into sustainable businesses. Only then can we create profit, both for people and for planet.
Join Dorothée Herr – manager of the IUCN’s Blue Natural Capital Financing Facility – to discover the reasons to invest in the ocean. In Investing For Ocean Impact we’ll talk to leading experts, global policymakers, and investment movers and shakers. We’ll also dive into real life, working examples of Nature-based Solutions, from seaweed farms to marine protected areas, and show how these are projects that investors can indeed get behind.
The time to invest in our ocean is now. Subscribe, wherever you get your podcasts, so that you never miss an episode.
A wave of action against deep sea mining is growing.
In July 2024, the International Seabed Authority will meet for its 29th Session in Kingston, Jamaica. Pacific island states or “large ocean states” like Palau have been leading the charge at the ISA to pause and reconsider the current trajectory towards deep sea mining. And now over twenty-five countries have called for a pause, a moratorium, or an outright ban on the practice.
In the third and final episode of this miniseries we welcome Palau’s President Surangel S. Whipps Jr. to discuss the reasons behind these decisions, why some states are eager to begin mining, and what’s at stake for the world.
With thanks to President Surangel S. Whipps Jr. of the Republic of Palau; and Kristina Gjerde, Senior High Seas Advisor to the International Union for Conservation of Nature.
Investing For Ocean Impact is a Fresh Air Production on behalf of the International Union for Conservation of Nature and Dona Bertarelli Philanthropy. It is presented and produced by Phil Sansom.
The views and opinions expressed by guests on this podcast are their own and do not represent the views and opinions of IUCN or Dona Bertarelli Philanthropy.
FURTHER READING:
Report on the value of ecosystem services and natural capital of the Area (https://www.isa.org.jm/wp-content/uploads/2023/06/Report-on-Valuation-of-ecosystem-services.pdf), Brander and Guisado Gõni, 2023
Deep-Sea Mining: assessing evidence on future needs and environmental impacts, (https://easac.eu/publications/details/deep-sea-mining-assessing-evidence-on-future-needs-and-environmental-impacts) easac.eu, 2023 (https://easac.eu/publications/details/deep-sea-mining-assessing-evidence-on-future-needs-and-environmental-impacts) DSM and Human right implications (https://www.ohchr.org/sites/default/files/documents/issues/climatechange/information-materials/ohchr-seabed-mining-10-july.pdf), OHCHR, 2023
Equitable sharing of deep-sea mining benefits: More questions than answers (https://www.sciencedirect.com/science/article/pii/S0308597X23000994) (Wilde et al, 2023)
A pause to mining activity is consistent with the U.N. Law of the Sea (https://www.pewtrusts.org/en/research-and-analysis/fact-sheets/2023/06/seabed-mining-moratorium-is-legally-required-by-un-treaty-legal-experts-find), Pew, 2023
Deep-Sea Mining Moratorium - Deep Sea Conservation Coalition (deep-sea-conservation.org) (https://deep-sea-conservation.org/solutions/no-deep-sea-mining/)
See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.
26 Jun 2024
2. Deep Sea Mining: Good or Bad Investment?
Why have some multinational companies pledged not to use minerals sourced from deep sea mining?
Today several major companies such as Volvo, BMW, and Samsung have joined over twenty-five countries in calling for a moratorium on deep sea mining. They have agreed not to source any minerals from the seabed for their entire supply chain of production, including for batteries and electric vehicles, until risks are fully understood and can be responsibly managed.
In the second episode of this miniseries we discuss the reasons behind these decisions; what factors – practical, financial, or environmental - businesses are considering; and whether deep sea mining makes economic sense.
With thanks to Eva Bennis, Director of Sustainability at Volvo Group Purchasing; and Rashid Sumaila, Professor of Interdisciplinary Ocean and Fisheries Economics at the University of British Columbia.
Investing For Ocean Impact is a Fresh Air Production on behalf of the International Union for Conservation of Nature and Dona Bertarelli Philanthropy. It is presented and produced by Phil Sansom.
FURTHER READING:
To engage in deep-sea mining or not to engage: what do full net cost analyses tell us? (https://www.nature.com/articles/s44183-023-00030-w)(Sumaila et al., 2023)
DSM is rife with technical challenges and overlooks innovations: Investors think twice (https://oceanfdn.org/wp-content/uploads/2024/02/dsm-finance-brief-2024.pdf) (the Ocean Foundation, 2024)
High levels of investment in mining and refining have ensured that global supply can meet demand today (https://iea.blob.core.windows.net/assets/aa21aa97-eea2-45b4-8686-ae19d8939161/GlobalEVOutlook2024.pdf) (Global EV Outlook, 2024)
How to Lose Half a Trillion, Deep Sea Mining, Financial Risk & Reward, Greenwashing, Transparency & Traceability, Equity (https://planet-tracker.org/how-to-lose-half-a-trillion/) (Planet tracker, 2024)
Companies and financial institutions endorsing the Business Statement supporting a moratorium on Deep Sea Mining (https://www.stopdeepseabedmining.org/statement/) (Nautilus, 2023)
Critical minerals and the green transition, do we need to mine the deep seas? (https://ejfoundation.org/resources/downloads/EJF_critical-minerals-and-the-green-transition.pdf) (Environmental Justice Foundation)
See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.
19 Jun 2024
1. What is Deep Sea Mining?
What is deep sea mining? And what should the world do about it? Welcome to a brand new miniseries exploring the facts and evidence around deep sea mining, and covering the growing case for a moratorium on the practice.
The ocean’s seabed harbours a range of mineral reserves containing valuable metals and compounds. But under international law these resources have been designated “the common heritage of mankind”, a designation backed up by the body responsible for both preserving and allowing their use, the International Seabed Authority. Today, for the first time, this body is being seriously tested: some companies are saying they are ready to mine the deep sea, and are demanding to do so.
In this first of three episodes we discuss the ecological and environmental impacts of deep sea mining, explain its legal status, cover recent developments at the International Seabed Authority, and start to separate rhetoric from reality.
With thanks to Diva Amon, scientific advisor at the Benioff Ocean Science Laboratory at the University of California Santa Barbara; and Pradeep Singh, fellow at the Research Institute for Sustainability at Helmholtz Center Potsdam.
Investing For Ocean Impact is a Fresh Air Production on behalf of the International Union for the Conservation of Nature, and Dona Bertarelli Philanthropy. It is presented and produced by Phil Sansom.
FURTHER READING:
Climate change to drive increasing overlap between Pacific tuna fisheries and emerging deep-sea mining industry (https://www.nature.com/articles/s44183-023-00016-8), (Amon et al., 2023)
90% of species in proposed deep-sea mining area, the Clarion Clipperton Zone, are undiscovered and unnamed (https://www.cell.com/current-biology/pdfExtended/S0960-9822(23)00534-1), (Rabone et al., 2023)
Undermining by Mining? Deep Seabed Mining in Light of International Marine Environmental Law | (https://www.cambridge.org/core/journals/american-journal-of-international-law/article/undermining-by-mining-deep-seabed-mining-in-light-of-international-marine-environmental-law/E1C541EA4227E42A10259A44E0A7120D)(Singh and Jaeckel (https://www.cambridge.org/core/search?filters%5BauthorTerms%5D=Aline%20Jaeckel&eventCode=SE-AU), 2024)
Is the ISA Ready to Regulate? Working Paper (https://dlc.dlib.indiana.edu/dlcrest/api/core/bitstreams/2623c68d-4278-4f3a-8d46-f6777ddc41af/content) (Bosco et al., 2023)
A “Deadline” Expires: Quo Vadis, International Seabed Authority? (rifs-potsdam.de) (https://publications.rifs-potsdam.de/rest/items/item_6003013_2/component/file_6003014/content) (Singh, 2023)
See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.
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