Deep-sea mining (DSM) not only poses significant environmental, social, and economic risks that may have far-reaching implications for coastal communities and Small Island Developing States (SIDS), it is also likely to negatively affect the business community, including insurers and investors, says a new study by researchers from the University of British Columbia and the Dona Bertarelli Philanthropy.
Deep-sea mining (DSM) not only poses significant environmental, social, and economic risks that may have far-reaching implications for coastal communities and Small Island Developing States (SIDS), it is also likely to negatively affect the business community, including insurers and investors, says a new study by researchers from the University of British Columbia and the Dona Bertarelli Philanthropy.
DSM operations are expected to increase the negative impact on environmental indicators by up to 13 per cent, a change categorized as having “great” significance, relative to the “without” DSM scenario, the study published in PLOS One said, notably through increased coastal vulnerability, pollution, and biodiversity loss.
“The risks associated with DSM extend well beyond environmental degradation — they pose significant hazards for marine ecosystems, coastal and Indigenous communities, and for businesses, in particular, the insurance industry,” said Dr. Rashid Sumaila, professor at the University of British Columbia’s Institute for the Oceans and Fisheries (IOF) and School of Public Policy and Global Affairs (SPPGA), and senior author of the study.
Read more at: University of British Columbia
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