10.48440/IASS.2021.004
Thiele, Torsten
Torsten
Thiele
Institute for Advanced Sustainability Studies
Damian, Hans-Peter
Hans-Peter
Damian
Singh, Pradeep
Pradeep
Singh
Institute for Advanced Sustainability Studies
A comprehensive approach to the payment mechanism for deep seabed mining
Institute for Advanced Sustainability Studies (IASS)
2021
Policy Brief
en
2MB
Creative Commons Attribution Share Alike 4.0 International
The International Seabed Authority (ISA) is presently developing regulations (the “Mining Code”) to govern the exploration and exploitation of mineral resources of the international seabed (or “Area”). Whilst the financial mechanism is a critical component of this Mining Code, its development has been delegated to the Open-Ended Ad Hoc Working Group of the Council. These informal discussions have prioritized a model that gives preference to enabling mining over delivering fair compensation for the loss of resources. This policy brief argues that a fundamentally different and comprehensive approach is required and outlines some of its key components.