Marine minerals are emerging as a potential complementary source of critical metals to meet the projected increase in demand, driven in part by the transition to a more mineral-intensive renewable energy system.
The Marine Minerals ESG Handbook project has developed the first edition of an ESG disclosure framework for the marine minerals industry. This was achieved through a two-year iterative process with the involvement of marine mineral developers, contractors, financial institutions, science institutions, non-governmental organizations, and regulators.
The objective of the ESG Handbook is to:
- Provide guidance to meet international expectations regarding ESG disclosure for the marine minerals industry.
- Provide an overview of the material ESG topics for the marine minerals industry.
- Provide recommendations for the consistent disclosure of information for each material topic.
- Provide a tool for structured ESG documentation enabling useful ESG disclosures for internal and external stakeholders.
- Facilitate transparency and consistent reporting to inspire and facilitate optimization and improvement across the sector.
The marine minerals ESG guidance builds on existing global non-financial performance and ESG reporting standards from recognized
institutions while considering the specific challenges and opportunities of the marine minerals industry. This disclosure guideline is voluntary and aims to provide a uniform basis for communication with a wider set of stakeholder groups. The current global guideline for ESG disclosure is not dependent on or replaces regulations.
“We hope that the development of this ESG handbook will encourage ESG thinking and improvements before any commercial activities begin,” said Jon Hellevang, R&D Manager, GCE Ocean Technology.
“DNV is pleased to be a part of this consortium. Given the role of critical metals in the energy transition, it is important to ensure responsible extraction and re-circulation of metals. The Marine Minerals ESG Handbook allows for transparent and consistent reporting on the ESG performance of marine mineral projects, aligned with global standards. I hope the industry adopts this guidance positively in support of a sustainable energy transition”, added Tor Jensen, Vice President of Environmental Risk Management at DNV.
The Marine Minerals ESG Handbook can be downloaded from the DNV website here.
