World - WEF Seeks to Start a Multistakeholder Dialogue on Deep-Sea Mining
A new way to meet the growing demand for minerals critical to electric vehicle, electronics and battery manufacturers could become commercially available within this decade, says the World Economic Forum (WEF).
It notes that significant public and private investment has gone into investigating ways to extract cobalt, nickel, lithium and other minerals from the deep seabed, while more than 80 nongovernmental organisations have voiced concerns about the dangers of commercial extraction in the ocean.
“While venues exist for countries, scientists, seabed mining industry and environmental organisations to discuss deep-sea mining, companies that use these kinds of minerals – the product manufacturers and metal markets – previously did not have a place to learn about and discuss this topic,” the WEF points out.
To create the space needed for this industry to come together, discuss and engage on this complex issue, the forum has launched the Deep-Sea Minerals Dialogue platform, which will use a multistakeholder approach in the hopes of convening responsible businesses and accelerating their participation in discussions about deep-sea mining.
The new platform will leverage experts with different points of views and analyse decision-making systems and learnings from existing industries, the WEF states.