What changed

M. whereas 37 financial institutions representing EUR 3.33,3 trillion of combined assets raised concerns over seabed mining activities to the member states of the International Seabed Authority; whereas international companies such as Volvo, BMW, Google, Samsung, Phillips, Northvolt and Volkswagen have expressed their support for a moratorium on deep-seabed mining and have committed to not sourcing or financing minerals from the deep seabed; whereas Equinor, Norway’s largest company, has emphasised the need to gain more knowledge on deep-sea mining off Norway’s coast and has concluded that it is not yet viable owing to the environmental risk; whereas the UN Environment Programme’s Finance Initiative has warned the finance community that, in their current form, there is no foreseeable way that the financing of deep-seabed mining activities can be consistent with the Sustainable Blue Economy Finance Principles;