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. 

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:  

To engage in deep-sea mining or not to engage: what do full net cost analyses tell us? (Sumaila et al., 2023)

DSM is rife with technical challenges and overlooks innovations: Investors think twice (the Ocean Foundation, 2024)

High levels of investment in mining and refining have ensured that global supply can meet demand today (Global EV Outlook, 2024)

How to Lose Half a Trillion, Deep Sea Mining, Financial Risk & Reward, Greenwashing, Transparency & Traceability, Equity  (Planet tracker, 2024)

Companies and financial institutions endorsing the Business Statement supporting a moratorium on Deep Sea Mining (Nautilus, 2023)

Critical minerals and the green transition, do we need to mine the deep seas? (Environmental Justice Foundation)

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. 
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:  
<a href="https://www.nature.com/articles/s44183-023-00030-w" data-auth="NotApplicable" data-linkindex="0" data-ogsc="" data-outlook-id="b63d6ca6-829d-4fee-8756-8cd16097c9e1">To engage in deep-sea mining or not to engage: what do full net cost analyses tell us? </a>(Sumaila et al., 2023)
<a href="https://oceanfdn.org/wp-content/uploads/2024/02/dsm-finance-brief-2024.pdf" data-auth="NotApplicable" data-linkindex="1" data-ogsc="" data-outlook-id="4aa111a1-168b-481b-b660-2265f8278584">DSM is rife with technical challenges and overlooks innovations: Investors think twice</a> (the Ocean Foundation, 2024)
<a href="https://iea.blob.core.windows.net/assets/aa21aa97-eea2-45b4-8686-ae19d8939161/GlobalEVOutlook2024.pdf" data-auth="NotApplicable" data-linkindex="2" data-ogsc="" data-outlook-id="ecf4c93d-c2a6-4285-a1a3-b9a3886c30a0">High levels of investment in mining and refining have ensured that global supply can meet demand today</a> (Global EV Outlook, 2024)
<a href="https://planet-tracker.org/how-to-lose-half-a-trillion/" data-auth="NotApplicable" data-linkindex="3" data-ogsc="" data-outlook-id="a9b8763a-c710-4f78-96c6-44e931a49794">How to Lose Half a Trillion, Deep Sea Mining, Financial Risk &amp; Reward, Greenwashing, Transparency &amp; Traceability, Equity</a>  (Planet tracker, 2024)
<a href="https://www.stopdeepseabedmining.org/statement/" data-auth="NotApplicable" data-linkindex="0" data-ogsc="" data-ogsb="rgb(255, 255, 255)" data-outlook-id="6caee3a4-03ee-43ce-b758-8c7d85ed1496">Companies and financial institutions endorsing the Business Statement supporting a moratorium on Deep Sea Mining</a> (Nautilus, 2023)
<a href="https://ejfoundation.org/resources/downloads/EJF_critical-minerals-and-the-green-transition.pdf" data-auth="NotApplicable" data-linkindex="5" data-ogsc="" data-outlook-id="e5bf5d54-3c0a-46d5-816e-c1b663688925">Critical minerals and the green transition, do we need to mine the deep seas?</a> (Environmental Justice Foundation)

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.

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&rsquo;s coastlines offer many solutions. Yet these solutions don&rsquo;t receive anywhere near enough money to realize them. And while governments and philanthropists should provide more funding, they can&rsquo;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 Doroth&eacute;e Herr &ndash; manager of the IUCN&rsquo;s Blue Natural Capital Financing Facility &ndash; to discover the reasons to invest in the ocean. In Investing For Ocean Impact we&rsquo;ll talk to leading experts, global policymakers, and investment movers and shakers. We&rsquo;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.

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