Precautionary Management of Deep Sea Minerals
This is a background paper to the Pacific Possible report. Technological progress has given rise to increased interest in deep sea minerals. This report takes stock of existing policy, legal and fiscal arrangements supporting DSM decision making an...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/349631503675168052/Precautionary-management-of-deep-sea-minerals http://hdl.handle.net/10986/28298 |
| Summary: | This is a background paper to the
Pacific Possible report. Technological progress has given
rise to increased interest in deep sea minerals. This report
takes stock of existing policy, legal and fiscal
arrangements supporting DSM decision making and the
regulatory and institutional capacities necessary to assure
positive outcomes. As such, the report summarizes the knowns
and unknowns characterizing the current state of DSM, frames
the need to apply the precautionary approach given
information uncertainty, and identifies professional and
institutional capacity building needs. Given the significant
uncertainties and weak institutional capacity in the
countries of the Region, the report recommends the
precautionary approach to DSM, which among others includes
the option of no development if the risks are found to be
larger than the benefits. It also recommends that regional
regulatory collaboration takes place in a way that is
respectful of sovereignty considerations. |
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