Deep Sea Mining Campaign

Deep-sea mining: a risky business that threatens biodiversity, cultural heritage, and key carbon sinks. Out of 20 banks analyzed, 9 have no DSM policies, and some with policies still provide corporate financing to DSM-linked companies. Financial links exist between 8 banks and 7 companies engaged in DSM. While some banks are taking steps, it’s clear more needs to be done to protect our oceans. 📖 Find out how your bank measures up: https://lnkd.in/gqk8WFRQ #DeepSeaMining #SustainableBanking #FairFinanceGuide #OceanProtection

Fair Finance Guide Germany (FFG) is a project coordinated by the NGO Facing Finance. FFG have released their 8th updated finance guide to examine whether and how German banks respect social, environmental and human rights. The highest scores again go to the alternative banks and church banks GLS Bank, Tomorrow2, Ethikbank, KD-Bank, Triodos Bank and Pax-Bank. Overall, German banks are improving in terms of transparency and sustainability, but still lag behind Swedish, Belgian or Dutch banks, as shown by the FFG in other countries. Deep sea mining is increasingly emerging as a key potential threat to our oceans, as well as a risk for financiers. The FFG has, for the first time, recognised deep sea mining (DSM) as a new sustainability criterion. The DSM Campaign has been working with FFG on this issue. FFG’s research has uncovered that 11 of the 20 banks studied directly exclude financing DSM projects. These include Apobank, Deutsche Bank, DZ Bank, Ethikbank, GLS, KD-Bank, Pax-Bank, Sparkasse Köln-Bonn, Tomorrow, Triodos, UniCredit. We are encouraged in terms of those banks standing up against exploiting the deep sea. However, a number of these banks continue to finance and invest in those who are supporting the industry, such as Deme Group whose deep-sea exploratory division is Global Sea Mineral Resources (GSR). Deutsche Bank and DZ Bank are shareholders of Deme. We would encourage those banks to use their shareholding to discourage DSM activities, and to divest if this is not acted on.

New Briefing Paper: Finance, Biodiversity, and the Threat of Deep Sea Mining In time for the recent Convention on Biological Diversity (CBD) Conference of Parties (COP), the Deep Sea Mining Campaign has released a critical briefing paper for financiers, highlighting the biodiversity risks of deep sea mining (DSM) and the potential impacts of investing in this emerging industry. At COP, discussions centered on how finance can drive nature protection and restoration while avoiding harm. Our paper underscores a straightforward step for financiers and insurers: exclude sectors like DSM, which pose some of the greatest threats to biodiversity. Key points from the briefing: 👉 Irreversible Biodiversity Loss: DSM could lead to biodiversity loss on a multi-generational scale. 👉 Misalignment with Sustainability: The UN Environment Programme FI states DSM cannot align with Sustainable Blue Economy Finance Principles. 👉 Growing Industry Exclusion: 15 financial institutions, including some of the world’s largest banks and insurers, have already implemented policies explicitly excluding DSM. With limited current financial exposure to DSM, this is a pivotal moment for financiers to act. DSM is an unnecessary and avoidable threat to ocean biodiversity—responsible investors can take a stand by steering clear. 📄 Read the briefing paper here: Navigating the Depths #FinanceForNature #DeepSeaMining #BiodiversityProtection #SustainableFinance #BlueEconomy

🌊 Deep-Sea Mining: A Biodiversity Risk That Financiers Can Avoid 🌍 The Deep Sea Mining Campaign released a briefing paper for financiers at COP, highlighting the biodiversity risks posed by deep-sea mining (DSM) and the potential impacts of investing in this controversial sector. The COP agenda underscores the critical role of finance in protecting nature, with the 2022 framework calling for $700 billion per year for nature protection and restoration. While integrating private finance into nature-based solutions sparks debate, one clear path for financiers and insurers is to avoid sectors with the greatest biodiversity risks. Deep-sea mining stands out as an avoidable risk. 💔 Irreversible Biodiversity Loss: DSM could cause damage on multi-generational timescales, with far-reaching consequences for ocean ecosystems, planetary health, and humanity. ❓ Knowledge Gaps: Decades of research would be needed to fully understand the risks, yet proponents argue for rapid expansion to meet mineral demands – a claim debunked by the European Academies Science Advisory Council. 🌊 Sustainable Blue Economy Incompatibility: The UN Environment Programme FI has stated that DSM financing cannot align with the Sustainable Blue Economy Finance Principles. The good news? Financial exposure to DSM is still limited, making it easy for institutions to exclude it from their portfolios. So far, 15 leading financial institutions have explicitly ruled out DSM, and many more have signed the ‘Business statement supporting a moratorium on deep-sea mining.’ 🚫 The choice is clear: Deep-sea mining is an unnecessary threat to ocean biodiversity. Responsible financiers can take a stand now, safeguarding our oceans for generations to come. 📖 Learn more in our new briefing: https://bit.ly/3ZdgZnu #Biodiversity #FinanceForNature #DeepSeaMining #SustainableFinance #COP #OceanConservation #NatureProtection

🌊 Deep-Sea Mining: A Biodiversity Risk That Financiers Can Avoid 🌍 The Deep Sea Mining Campaign released a briefing paper for financiers at COP, highlighting the biodiversity risks posed by deep-sea mining (DSM) and the potential impacts of investing in this controversial sector. The COP agenda underscores the critical role of finance in protecting nature, with the 2022 framework calling for $700 billion per year for nature protection and restoration. While integrating private finance into nature-based solutions sparks debate, one clear path for financiers and insurers is to avoid sectors with the greatest biodiversity risks. Deep-sea mining stands out as an avoidable risk. 💔 Irreversible Biodiversity Loss: DSM could cause damage on multi-generational timescales, with far-reaching consequences for ocean ecosystems, planetary health, and humanity. ❓ Knowledge Gaps: Decades of research would be needed to fully understand the risks, yet proponents argue for rapid expansion to meet mineral demands – a claim debunked by the European Academies Science Advisory Council. 🌊 Sustainable Blue Economy Incompatibility: The UN Environment Programme FI has stated that DSM financing cannot align with the Sustainable Blue Economy Finance Principles. The good news? Financial exposure to DSM is still limited, making it easy for institutions to exclude it from their portfolios. So far, 15 leading financial institutions have explicitly ruled out DSM, and many more have signed the ‘Business statement supporting a moratorium on deep-sea mining.’ 🚫 The choice is clear: Deep-sea mining is an unnecessary threat to ocean biodiversity. Responsible financiers can take a stand now, safeguarding our oceans for generations to come. 📖 Learn more in our new briefing: https://bit.ly/3ZdgZnu #Biodiversity #FinanceForNature #DeepSeaMining #SustainableFinance #COP #OceanConservation #NatureProtection

Our Digital Twin report calls for a moratorium (a pause) on deep-sea mining. Let’s protect our oceans for future generations. 🌍 #MoratoriumNow https://lnkd.in/gJCJjB6Z

Should the world require transparency from companies who want to mine the ocean? With unproven technology and no independent oversight, the risks to our oceans are too high #DigitalTwin #ArtificialIntelligence #DeepSeaMining #ProtectOurOceans https://lnkd.in/gJCJjB6Z

Digital Twin’ is more buzz than reality. Current models offer static snapshots, not dynamic insights. We’d need decades of tech and science advancements for meaningful ecological monitoring #DigitalTwin #AI #DeepSeaMining #ProtectOurOceans linktr.ee/nodeepseamining

Digital Twin technology might sound cutting-edge, but it’s far from equipped to protect complex deep-sea ecosystems. Even if perfected, it couldn’t fully monitor or mitigate mining impacts. #DigitalTwin #ArtificialIntelligence #DeepSeaMining linktr.ee/nodeepseamining

Our latest report reveals the truth about using Digital Twin AI tech in deep-sea mining: it’s an untested tool in an industry that’s still in its infancy. Learn why this matters for ocean health 🌊 linktr.ee/nodeepseamining