New Marine Minerals ESG Handbook Sets Standard for Responsible Practices in Energy Transition

In response to the growing demand for critical metals driven by the shift towards renewable energy, the Marine Minerals ESG Handbook project has introduced the first edition of its ESG disclosure framework for the marine minerals sector. This development marks a significant step towards ensuring responsible and transparent practices within the industry.

The ESG Handbook, a product of a two-year collaborative effort, involves contributions from marine mineral developers, contractors, financial institutions, science bodies, non-governmental organizations, and regulators. Its primary objective is to provide comprehensive guidance on meeting international ESG disclosure standards specific to marine minerals.

Key aspects of the ESG Handbook include:

• Offering guidance to align with global ESG disclosure expectations.
• Outlining material ESG topics relevant to the marine minerals industry.
• Recommending consistent disclosure practices for these topics.
• Providing a structured tool for ESG documentation to benefit both internal and external stakeholders.
• Enhancing transparency and encouraging sector-wide improvements through consistent reporting.

The Handbook draws from existing global non-financial performance and ESG reporting standards, adapting them to the unique challenges and opportunities of marine minerals. Although voluntary, the framework aims to establish a uniform basis for stakeholder communication without replacing current regulations.

Jon Hellevang, R&D Manager at GCE Ocean Technology, expressed hope that the new ESG Handbook will promote proactive ESG considerations before commercial activities commence. Tor Jensen, Vice President of Environmental Risk Management at DNV, emphasized the importance of the Handbook in ensuring responsible extraction and re-circulation of critical metals, aligning with global standards for a sustainable energy transition.

The launch of the Marine Minerals ESG Handbook represents a pivotal move towards enhancing accountability and transparency in the marine minerals industry, crucial for supporting the global energy transition.