Latest news with #UNOC
Scoop
a day ago
- Business
- Scoop
Three Major French Investors Reject Deep Sea Mining
Three major French financial institutions, including two of the country's largest banks and the state's public investment arm, have announced their rejection of deep sea mining during the United Nations Ocean Conference (UNOC) last week in Nice. The three institutions are: BNP Paribas - France's largest and Europe's second largest bank. BNP Paribas confirms it does not invest in deep sea mining projects due to the intrinsic environmental and social risks involved. Crédit Agricole - The second largest bank in France and the world's largest cooperative financial institution. Crédit Agricole stated it will not finance deep sea mining projects until it has been proven that such operations pose no significant harm to marine ecosystems. Groupe Caisse des Dépôts - The public investment arm of the French Government, which also holds a majority stake in La Banque Postale. The Group has pledged to exclude all financing and investment in companies whose main activity is deep sea mining, as well as in deep sea mining projects. Amundi Asset Management also made a statement that it seeks to avoid investment in companies 'involved in deep sea mining and/or exploration'. This now brings to 24 the number of financial institutions who exclude deep sea mining in some form. Deep Sea Mining Campaign Finance Advocacy Officer Andy Whitmore says: 'This is a truly significant outcome from UNOC. Until recently no French financiers had matched their Government's position calling for a ban. This UN Ocean Conference, co-hosted by France, was the perfect opportunity for the most important national players to step up and be counted' These financial announcements are a sign of global concern pushing itself on to the agenda. World leaders renewed calls for a global moratorium on the dangerous industry, with French President Emmanuel Macron denouncing it as 'madness', with UN Secretary-General António Guterres responding to recent announcements from President Trump by warning that the deep sea 'cannot become the Wild West.' Slovenia, Latvia, Cyprus and the Marshall Islands also announced their support for a moratorium or precautionary pause, bringing the number of like-minded countries to 37. Andy Whitmore concluded 'the events at UNOC have added further momentum to the financial establishment rejecting deep sea mining. The recent unseemly rush to mine is creating push-back from the financial world, as much as from governments and civil society.'
Scoop
3 days ago
- Business
- Scoop
PNG Reaffirms Ban As Opposition To Deep Sea Mining Gains Traction
Feature - Global efforts to halt deep sea mining are gaining momentum, with major French financial institutions recently joining the call for a moratorium and Papua New Guinea reaffirming its stance against such operations in its national waters. In a significant development, three major French financial institutions, including two of the country's largest banks and the state's public investment arm, announced their rejection of deep sea mining during the United Nations Ocean Conference (UNOC) held last week in Nice, France. BNP Paribas, France's largest and Europe's second-largest bank, confirmed it would not invest in deep-sea mining projects due to the inherent environmental and social risks. On the 6 June, Crédit Agricole, the second-largest bank in France, said it would not finance deep sea mining projects until it is proven that such operations pose no significant harm to marine ecosystems. Groupe Caisse des Dépôts, the public investment arm of the French Government, pledged to exclude all financing and investment in companies whose main activity is deep-sea mining, as well as in deep sea mining projects. Amundi Asset Management also stated its aim to avoid investment in companies "involved in deep sea mining and/or exploration". These announcements bring the total number of financial institutions excluding deep sea mining in some form to 24. Crédit Agricole's chief sustainability and impact officer Eric Campos articulated the bank's position in a statement. "There can be no sustainable blue growth if it is to the detriment of the integrity of seafloor that is currently unexplored. Against a backdrop of climate and ecological emergency, Crédit Agricole undertakes not to finance deep sea mining projects." Deep Sea Mining Campaign's finance advocacy officer Andy Whitmore said the recent announcements were crucial. "This is a truly significant outcome from UNOC," Whitemore said. "Until recently no French financiers had matched their government's position calling for a ban. This UN Ocean Conference, co-hosted by France, was the perfect opportunity for the most important national players to step up and be counted." These financial decisions align with growing global concern, with 37 states now calling for a moratorium, precautionary pause, or ban on deep-sea mining. French President Emmanuel Macron has denounced the industry as "madness," and UN Secretary-General António Guterres has warned that the deep sea "cannot become the Wild West". Papua New Guinea has reaffirmed its strong opposition to deep sea mining within its national waters. Prime Minister James Marape recently announced in France that his government would stop deep sea mining operations in the absence of robust scientific evidence and proper environmental safeguards. This stance comes amid increasing national and international concerns regarding the New Ireland Provincial Government's (NIPG) decision to support the NIU Solwara 1 Deep Sea Mining Project. Civil society organisations in PNG have urged the NIPG to learn from past mistakes. In 2019, Nautilus Minerals, the previous holder of the Solwara 1 license, filed for bankruptcy in a Canadian court, leading to substantial financial losses for PNG. Reports indicated over $120 million of government funds were "sunk into the ocean," while Marape described the agreement with Nautilus as "a deal that should not have happened". Papua New Guinean coastal communities have long voiced apprehension about government intentions to introduce seabed mining projects. For generations, these communities have relied heavily on the sea for their sustenance and way of life, and any threat to marine ecosystems directly impacts their economic backbone and cultural practices. Alliance of Solwara Warriors co-founder Jonathan Mesulam stressed the importance of community consultation for any deep sea mining plans. "The people of New Ireland must be consulted to ensure that there is free, prior and informed consent before the governor and his administration plans to favour deep sea mining," Mesulam said. He added that dismissing opposition as "fear mongering and unqualified individuals" hinders respectful discussions based on scientific facts, legal requirements, and the desires of the people for their livelihoods and ocean life. Civil society organisations are advocating for a transparent Free, Prior, and Informed Consent (FPIC) process, consistent with PNG Supreme Court decisions that require project proponents to obtain landowners' "free and informed consent and approval, and ultimately, their social license to operate". Civil society organisations are asserting that PNG's government's commitment to moratoriums should be upheld. In 2019, Marape issued a moratorium on deep sea mining in PNG waters, stating it would remain until further evidence suggested otherwise. This resolution aligns with the positions of other Pacific nations. In 2023, PNG endorsed the Udaune Declaration of the Melanesian Spearhead Group (MSG), which called for a moratorium on deep-sea mining in Melanesia. Concerns also extend to procedural and legal issues surrounding the Niu Solwara 1 project, including the need for an Environmental Impact Statement with stakeholder input, and questions about the legality of the license transfer from Nautilus Minerals to Niu Solwara. Center for Environmental Law and Community Rights PNG executive director Peter Bosip stressed the need for government action. "The Marape-Rosso government must revisit existing policies, including the Mining Act, which is under review, address outstanding legal issues related to the Niu Solwara 1 project, and ensure that offshore mining activities in PNG waters align with national, regional and international commitments of ocean protection," Bosip said. Communities across the Pacific are expressing solidarity with those in New Ireland, Duke of York, and neighbouring areas to condemn the NIPG's decision. Marine ecosystems are not only central to cultural practices but also form the economic foundation of local communities. Civil society organisations argue there are no social, economic, or environmental justifications for authorising deep sea mining in PNG waters and that the NIU Solwara 1 project must be rejected. The collective of civil society organisations is calling on the Marape-Rosso government to formally acknowledge the MSG Udaune Declaration, ensure wide consultation during the review of the Mining Act 2025's offshore policy and engage civil society, and cancel all existing exploration and mining licenses, with no further issuing or transfers in the absence of proper legislation and policy. They also advocate for an independent inquiry into the Nautilus Minerals Solwara 1 project, with all financial and environmental impact reports made public, and for PNG to support a global moratorium on deep sea mining in areas beyond national jurisdiction.
LeMonde
6 days ago
- Politics
- LeMonde
UNOC: Away from Trump, world leaders make progress on key ocean issues
The sound of foghorns and a simple file marked the end of five days of talks among 175 countries. In Nice's old port on Friday, June 13, boats sounded as Olivier Poivre d'Arvor, France's ambassador for the poles and maritime issues, presented one of the final documents of the third United Nations Ocean Conference (UNOC), simply titled the "Nice Ocean Action Plan." In a year dominated by the predatory ambitions of Donald Trump, the document has been bolstered by a declaration in which countries reaffirmed their "strong commitment to conserve and sustainably use" the ocean, "adversely affected by climate change, biodiversity loss and pollution." These broad principles do not capture the full scope of the event. Unlike some United Nations Climate Change Conferences (COP), UNOC was not intended to produce a new global target. Instead, the summit accelerated ongoing multilateral processes and solidified new alliances. Thanks to this spotlight, the high seas treaty is expected to reach 60 ratifications in the coming months, 37 countries have lined up behind a moratorium on deep-sea mining, and many nations have pledged to increase both the number and size of their marine protected areas.
Euronews
7 days ago
- Politics
- Euronews
What message has the Nice ocean summit sent to COP30 this year?
The ocean is essential to limiting global temperature rise. It captures about 30 per cent of all carbon dioxide emissions, and 90 per cent of the excess heat generated by these, but has been overlooked in the conversation about how to curb climate change. This is increasingly concerning as oceans suffer from the results of excess carbon dioxide, including acidification and rising sea temperatures. These have significant impacts on ecosystems, the communities that rely on them, and the ocean's role as a climate regulator. 'The globe is burning. Our oceans are boiling. Scientists speak of effects that we're having, heatwaves even in our oceans, and as we have the rising sea levels, submersion threatens us,' said French President Emmanuel Macron at the opening plenary of the United Nations Ocean Conference (UNOC) in Nice this week. The conference saw what Macron called 'unprecedented mobilisation' for oceans, with over 120 countries, 50 world leaders and 10,000 people in attendance. It also included a strong push to start including oceans in climate and biodiversity talks, including the COP30 climate conference to be held in Brazil in November. That would mark a big change from previous discussions. Even the Paris Agreement - the landmark treaty that aimed to keep global warming below 1.5C - has just one mention of the ocean, noting the importance of ensuring the integrity of all ecosystems. 'We're very, very late. We're at UNOC3 - the climate COPs are at COP30. Unfortunately, the climate COPs, much like other conferences of the like, have not really properly integrated the ocean. So on the science, we're picking up, but on the political side of things, it's still very, very much catching up,' says Louis Lambrechts from the Oceano Azul Foundation. Speaking at the beginning of the summit, Marcon pointed to the ocean's carbon capture potential and its role as a climate regulator, highlighting the need to act to protect this, particularly ahead of COP30. Lambrechts tells Euronews Green that it is crucial to create coherence between climate, biodiversity, and ocean silos. 'What should come out of this conference [...] should be very clear messages towards the next climate COP happening in Brazil later this year, about why it's so critical that the ocean should be properly addressed and considered in the debates,' he says. 'Any objective or action we're trying to have on climate would be completely unrealistic if the ocean wasn't there to play the game with us,' he adds. Isabella Lövin, former Swedish climate and environment minister and now Green member of the European Parliament described how, during her time in government, she fought to get oceans into the climate conversation, but said this shift has taken a long time. 'People have so much to think about - what's happening on land and with the forests and the atmosphere and the cryosphere and so on, but the oceans are really one of the two major climate regulators, so we need to have much more conversations on how we can preserve the ocean in order to stay below 1.5C,' she explains. Similarly, Ana Vasconcelos, a member of the European Parliament with centrist group Renew Europe, warned that, politically, ignoring the ocean in climate and economic negotiations is a failure. 'Europe must go to COP30 with a clear message: the ocean is not a backdrop - it's a frontline climate actor. I want the UNOC to produce real and concrete commitments that reflect the scale of the crisis and the ocean's role in solving it,' she says. That includes establishing clear and actionable guidelines for global ocean governance, recognising that the ocean is a common resource that needs to be safeguarded through global cooperation, she adds. Ahead of COP30, France and Brazil also launched the Blue NDC Challenge, calling on countries to place the ocean at the centre of their plans to reach the goals of the Paris Agreement. Countries need to submit updated versions of these plans by September ahead of COP30. The ocean's role as a climate regulator is increasingly being chipped away. At the start of the conference, on 8 June, scientists released the first Starfish Barometer - an assessment of ocean health aimed at providing reliable evidence to inform policymakers and track the restoration of ocean health. It warned of rising sea levels, record temperatures, and rapid acidification. This is worrying given the climate disaster the ocean has, so far, held back. 'If the ocean wasn't there, it could be 50C warmer on land, but you don't get anything for free in this world, and the ocean is changing as a result of all of that excess heat going into it, and its capacity to continue absorbing heat is not something we can count on into the future,' says Robert Blasiak, Associate Professor at the Stockholm Resilience Centre. Lambrechts likens the ocean warming to a kettle boiling: taking a long time to warm up - much longer than the air - but staying hot for a long time. The world is heading towards that boiling point, he says, creating dead zones where marine life cannot survive, hindering ecosystems' ability to store carbon, as well as affecting fish populations and impacting those communities who rely on them. While some damage to the ocean may take centuries to recover from, there are measures we could take today to help prevent further harm. Banning bottom trawling and deep sea mining would be decisions with immediate results, says Lévy. These damage ocean ecosystems and, in the case of deep sea mining, a lot of the potential impacts are still unknown. The EU's 2023 Marine Action Plan called on member states to phase out bottom trawling in all marine protected areas by 2030, due to the importance of the seabed for healthy marine ecosystems and climate change mitigation. While 37 countries, including 15 EU nations and the UK, have signed a pause on deep sea mining as part of a political effort to prevent the practice until the implications of it are understood. According to Lövin, the most important thing to consider when protecting the ocean is the precautionary principle - the idea of avoiding activities that might cause harm that is not yet known. 'We need to really take the precautionary approach seriously because we are the decision makers. We are the ones that are going to be held accountable. We have the responsibility for future generations,' she tells Euronews Green. Vasconcelos also called on the EU to take a 'central and credible role' in International Seabed Authority (ISA) negotiations in July to ensure that ocean governance aligns with its climate and geopolitical priorities. Ahead of UNOC, the European Union released its Ocean Pact, pledging €1 billion to support ocean conservation, science and sustainable fishing. It also announced that it will propose an Ocean Act in 2027 aimed at strengthening and modernising maritime spatial planning to help achieve the pact's priorities, like restoring ocean health, building a blue economy, and advancing research and knowledge. While it was not as ambitious as some would have liked, with Vasconcelos saying it is unclear where the €1 billion will come from and leading ocean NGOs saying it lacks concrete protection measures, it has been widely welcomed as a way of bringing oceans back into the conversation and linking different ocean policies. However, not everyone is on board. One of the notable absences from the conference was the US government, which under President Trump has pulled out of the Paris Agreement and is unilaterally trying to push ahead with deep sea mining. Lövin called the lack of US presence a scandal, contrasting it with the efforts of the EU and other world leaders to work against planetary collapse and pointing to the need to work together to protect the world for future generations.
Scoop
7 days ago
- Politics
- Scoop
UNOC3: 'Fine Words Must Now Translate Into Action', Greenpeace Comment
Following this UNOC, attention now turns to the International Seabed Authority (ISA) meetings in July. The upcoming ISA provides a space where governments can come together to defend the deep ocean by adopting a moratorium to stop this destructive industry. Nice, France: The UN Ocean Conference (UNOC) concluded yesterday with significant progress made towards the ratification of the High Seas Treaty and a strong statement on a new plastics treaty signed by 95 governments. Once ratified, the Treaty will be the only legal tool that can create protected areas in international waters, making it fundamental to protecting 30% of the world's oceans by 2030. To date 50 countries, plus the European Union, have now ratified the Treaty. New Zealand has signed but is yet to ratify. Deep sea mining rose up the agenda in the conference debates, demonstrating the urgency of opposing this industry. The expectation from civil society and a large group of states, including both co-hosts of UNOC, was that governments would make progress towards stopping deep sea mining in Nice. UN Secretary General Guterres said the deep sea should not become the wild west. French President Macron said a deep sea mining moratorium is an international necessity. Four new countries pledged their support for a moratorium at UNOC bringing the total to 37. Attention now turns to what actions governments will take in July to stop this industry from starting. Megan Randles, Greenpeace Head of Delegation regarding the High Seas Treaty and progress towards stopping deep sea mining said: 'High Seas Treaty ratification is within touching distance, but the progress made here in Nice feels hollow as this UN Ocean Conference ends without more tangible commitments to stopping deep sea mining. 'We've heard lots of fine words here in Nice, but these need to turn into tangible action. Countries must be brave, stand up for global cooperation and make history by stopping deep sea mining this year. They can do this by committing to a moratorium on deep sea mining at next month's International Seabed Authority meeting. We applaud those who have already taken a stand, and urge all others to be on the right side of history by stopping deep sea mining.' Following this UNOC, attention now turns to the International Seabed Authority (ISA) meetings in July. In the face of The Metals Company teaming up with Trump to mine the global oceans, the upcoming ISA provides a space where governments can come together to defend the deep ocean by adopting a moratorium to stop this destructive industry. Negotiations on a Global Plastics Treaty resume in August John Hocevar, Oceans Campaign Director, Greenpeace USA said: 'The majority of countries have spoken when they signed on to the Nice Call for an Ambitious Plastics Treaty that they want an agreement that will reduce plastic production. Now, as we end the UN Ocean Conference and head on to the Global Plastics Treaty negotiations in Geneva this August, they must act. The world cannot afford a weak treaty dictated by oil-soaked obstructionists. 'The ambitious majority must rise to this moment, firmly hold the line and ensure that we will have a Global Plastic Treaty that cuts plastic production, protects human health, and delivers justice for Indigenous Peoples and communities on the frontlines. Governments need to show that multilateralism still works for people and the planet, not the profits of a greedy few.' Nichanan Thantanwit, Project Leader, Ocean Justice Project said: 'Coastal and Indigenous communities, including small-scale fishers, have protected the ocean for generations. Now they are being pushed aside by industries driving ecological collapse and human rights violations. 'As the UN Ocean Conference ends, governments must recognise small-scale fishers and Indigenous Peoples as rights-holders, secure their access and role in marine governance, and stop destructive practices such as bottom trawling and harmful aquaculture. There is no ocean protection without the people who have protected it all along.' The anticipated Nice Ocean Action Plan, which consists of a political declaration and a series of voluntary commitments, will be announced later today at the end of the conference. None will be legally binding, so governments need to act strongly during the next ISA meeting in July and at plastic treaty negotiations in August.
