Samsung Calls For Bans
Samsung SDI is among the first four companies in the world to sign on to a World Wildlife Fund (WWF) call for a moratorium on deep-sea mining, according to WWF’s Wednesday announcement.
The South Korean battery-making affiliate of Samsung Electronics commits itself to not sourcing any minerals (such as cobalt, copper, nickel and manganese) from the seabed, or to finance deep-sea mining activities, and is also a commitment to exclude minerals obtained this way from its supply chains.
Samsung SDI joins Google, BMW and Volvo in the initiative.
“With much of the deep-sea ecosystem yet to be explored and understood, such activity would be recklessly short-sighted,” WWF said in a statement.
It’s an especially meaningful commitment for Samsung SDI to make, as these minerals are key to making batteries – the move has grabbed the industry’s attention.
The market for electric vehicles has blown out over the past few years, and with that, so too has demand for the minerals.
Samsung SDI said it was the first battery maker, as well as the first Korean firm, to participate in WWF’s initiative.
“Many view Samsung’s participation in the global initiative positive as the first in the battery industry,” the company said in a statement. “The company will make efforts to materialise ESG management through responsible supplies of materials.”