FinanceInformation on Deep Sea Mining for Investors
The Deep Sea Mining Campaign (DSMC) is the only civil society organisation systematically approaching financial institutions about deep sea mining (DSM).
We produce quarterly updates, which we provide with a view to gaining exclusion policies and to deter investment in deep sea mining.
If you would like more information, or to receive the updates, please email: email@example.com
Information for Investors
The Deep Sea Mining Campaign’s Finance Advocacy work
Our finance advocacy provides investors with resources to safeguard their financial and reputational interests as the deep sea mining (DSM) industry is not meeting Environmental, Social, and Governance (ESG) criteria or compliance.
It aims to warn financiers and insurers of the high risks associated with DSM , hoping they will create specific policies excluding DSM or discouraging direct divestment in higher risk DSM companies.
The Deep Sea Mining Campaign (DSMC) started finance advocacy work in 2017 with the aim of undermining the financial basis of the Nautilus Minerals Solwara 1 project in Papua New Guinea (PNG)’s territorial waters. As the first DSM project to be granted a mining license, Solwara 1 was seen as setting a precedent by companies and governments around the world.
The Financial Risk of Deep Sea Mining
Deep sea mining is an experimental industry that carries a high level of technical, financial, environmental and reputational risk.
Financial institutions, especially insurers, are rightly concerned about such risks.
Proponents of the sector claim that DSM is an ‘environmentally friendly’ alternative to terrestrial mining essential for the swift transition to renewable energy. These claims contradict the accumulated scientific consensus that mining the deep sea for minerals poses a significant risk to ocean ecosystems. DSM also threatens the deep cultural and spiritual connections of islanders and maritime communities who have navigated, fished and traded across oceanscapes for thousands of years.
The commercial viability of DSM is a significant unknown, with only a limited number of companies willing to accept that risk.
Swiss Re says it does not support activities that retrieve minerals from the deep seabed "based on key sustainability risks identified for this sector"
One of the world’s biggest reinsurers Swiss Re joins a growing number of global financiers rejecting the unnecessary and potentially catastrophic industry of deep sea mining.
After three weeks of negotiations at the International Seabed Authority (ISA) no regulations on deep sea mining were adopted despite wannabe-miner The Metals Company (TMC) and its spon-soring state Nauru attempting to rush the process.
An infographic to lay bare the web of connections tying The Metal Company's CEO, Gerard Barron, his family, and his friends.