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Paper

A comprehensive approach to the payment mechanism for deep seabed mining

Authors
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Thiele,  Torsten
IASS Institute for Advanced Sustainability Studies Potsdam;

Damian,  H.-P.
External Organizations;

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Singh,  Pradeep
IASS Institute for Advanced Sustainability Studies Potsdam;

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Fulltext (public)

IASS_Policy_Brief_2021_1_en.pdf
(Publisher version), 2MB

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Citation

Thiele, T., Damian, H.-P., Singh, P. (2021): A comprehensive approach to the payment mechanism for deep seabed mining. - IASS Policy Brief, 2021, 1.
https://doi.org/10.48440/iass.2021.004


Cite as: https://publications.iass-potsdam.de/pubman/item/item_6000737
Abstract
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.