Deep Sea Mining Isn't Worth The Risk
A quiet forest where there was once ruckus bird sound. Fewer bees in the fields. A monotone, brown landscape where there once was lushness. The loss of biodiversity is the loss of the familiar and erosion of stable ecosystem services that we depend on.
As You Sow recently launched a Biodiversity Program in response to increasing global concern about the systemic risks posed by biodiversity loss and looming ecosystem collapse. Biodiversity is the basis for the innumerable ecosystem services that communities, companies, and the world at large depend on – food security, fresh water, clean air, and climate resilience just to name a few. Unfortunately, these benefits go ignored or unseen, and at worst, can be directly threatened by business-as-usual corporate operations.
The benefits of a functioning environment are at risk, and shareholders are raising the alarm. The emerging deep sea mining (DSM) industry embodies one of the most significant new threats to global biodiversity. As the green transition (including electric vehicle deployment) speeds up, companies like The Metals Company plan to strip-mine the seafloor for nodules containing battery-related minerals. Supporters of DSM argue that mining deep sea nodules poses fewer risks to climate and biodiversity compared to terrestrial mining.
Scientific consensus shows otherwise.
In the Clarion-Clipperton Zone – an untouched area of the Pacific Ocean identified as a future hotspot for DSM – researchers found over 5,000 species new to science. Studies show biodiversity steeply decreases even after simulated DSM, with little to no recovery after over 25 years. To mine the deep sea could mean disrupting interspecies relationships and the services they provide in ecosystems we do not yet fully understand.
If only 5% of deep sea concessions in international waters were mined, DSM risks damage to sensitive marine ecosystems would have a much larger footprint than terrestrial mining. Studies show that DSM is likely to devastate marine ecosystems, even when performed cautiously. Removing nodules damaging deep sea life habitat. Dredging obliterates seafloor life and releases sediment plumes laced with toxic metals that poison marine food chains. Deep-sea organisms are slow-growing and fragile, and habitats may never recover to pre-impact states.
The impacts expand beyond the seafloor. Biodiversity loss from DSM also jeopardizes fish-based livelihoods and food supplies. Industrial-scale seafloor exploitation could have also grave consequences for the ocean’s ability to absorb carbon dioxide and may lead to release of carbon stores – exactly what you don’t want during a climate crisis.
Given the risks and accompanying shareholder concerns, As You Sow has called upon General Motors to publicly disclose its policies on the use of deep-sea mined minerals in its supply chains and has urged Tesla to commit to a moratorium on sourcing minerals from DSM. Taking a stance against deep-sea mining – like several electric vehicle manufactures (including BMW and Volvo) and twenty-four countries (including Canada, France, and the UK) already have – signals that the green transition is possible without risking irreversible harm to some of the world’s last remaining pristine ecosystems.
As You Sow is encouraging automakers to get ahead of the serious reputational, financial, and regulatory risks inherent in deep-sea mining. Now more than ever, the risks of biodiversity loss and its implications for companies are top of mind for investors.
The time is ripe to emphasize circularity over new extractive industries, recognizing that biodiversity conservation is not just a moral imperative but also a sound business strategy for long-term profitability. Globally recognized standards are emerging for companies to measure, assess, and report their impacts on biodiversity and, more importantly, to take action to reduce that impact. Deep-sea mining is a critical place to start.