Moratorium on Deep Sea Mining | Interfaith Center on Corporate Responsibility

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<h4>Resolution Details</h4>
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<strong>Company:</strong>
<p>First Solar, Inc.</p>
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<strong>Year:</strong>
<p>2025 </p>
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<strong>Issue Area:</strong>
<p>Environment </p>
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<strong>Focus Area:</strong>
<p>Mining </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p>WHEREAS: Global concern is growing about deep sea mining (DSM), the process of extracting solar cell–related minerals from the deep seabed. Studies indicate that such mining risks destroy fragile habitats, dramatically reduce biodiversity, and cause irreversible damage to marine ecosystems.1</p>
<p>DSM machinery dredges the ocean floor, indiscriminately killing sea life in its path, and releasing sediment plumes laced with toxic metals into the water column, poisoning marine food chains. 2 These plumes can cause a cascading effect of biodiversity loss far beyond the mining site, potentially disrupting entire food webs.3</p>
<p>Evidence indicates that the detrimental impacts of DSM are likely to result in a reduction in food supply and fisheries-related employment and harm the ability of oceans to sequester carbon and retain long-held carbon stores in the seabed.5 Recent studies have illuminated the importance of an undisturbed seafloor environment to the ocean’s ability to generate oxygen.6 Studies have also shown that DSM can more than halve wildlife populations,7 a finding that is particularly concerning considering that over 5,000 new species have been discovered in just one region planned for DSM.8 DSM’s scientific uncertainty and potentially catastrophic impacts have led many countries, civil society groups, and corporations to voice concerns. More than thirty governments have called for a moratorium on DSM.9EV manufacturers and tech giants, including Apple, Google, Salesforce, and Samsung, have committed to a global DSM moratorium, pledging to keep their supply chains DSM-free until scientific findings are sufficient to assess the environmental risks.10 This growing support for a DSM moratorium by countries with major solar panel markets raises competitiveness and regulatory concerns for companies that allow deep sea mined materials into their supply chains.</p>
<p>First Solar, a leading solar panel manufacturer, is widely regarded as a sustainable company, yet it has not adopted a commitment to avoid DSM minerals for its solar panels. The mineral needs of clean energy technologies—such as First Solar’s—are touted as the central driver for developing a DSM industry. Yet, minerals that would be mined from the deep sea are currently readily available terrestrially,11 and future demand for critical minerals can be reduced by over 50% through a combination of new technology, circular economy strategies, and recycling.12 A DSM moratorium by First Solar commitment would be consistent with the Company’s commitments to “minimize environmental impacts” while creating clean electricity.13 It would also demonstrate an intent to proactively address the risks of this emerging industry including the reputational harm of being linked to an unnecessary and environmentally harmful industry, and the financial dubiousness of orienting a supply chain around an industry with an uncertain regulatory future.</p>
<p>BE IT RESOLVED: Shareholders request First Solar commit to a moratorium on sourcing minerals from deep sea mining.</p>
<p>1 https://www.fauna-flora.org/publications/fauna-flora-deep-sea-mining-report-update-march-2023/, p.28</p>
<p>2 https://nhm.openrepository.com/handle/10141/622833, p.12</p>
<p>3 https://www.cell.com/current-biology/fulltext/S0960-9822(23)00815-1</p>
<p>4 https://www.nature.com/articles/s44183-023-00016-8;https://www.cbd.int/article/food-2018-11-21-09-29-49</p>
<p>5 https://www.frontiersin.org/journals/marinescience/articles/10.3389/fmars.2021.706161/full;https://www.frontiersin.org/journals/marinescience/articles/10.3389/fmars.2020.00165/full</p>
<p>6 https://www.nature.com/articles/s41561-024-01480-8</p>
<p>7 https://www.cell.com/current-biology/fulltext/S0960-9822(23)00815-_returnURL=https%3A%2F%2Flinkinghub.elsevier.com%2Fretrieve%2Fpii%2FS0960982223008151%3Fshowall%3Dtrue</p>
<p>8 https://www.cell.com/current-biology/fulltext/S0960-9822(23)00534-1</p>
<p>9 https://deep-sea-conservation.org/solutions/no-deep-sea-mining/momentum-for-a-moratorium/</p>
<p>10 https://www.stopdeepseabedmining.org/endorsers/</p>
<p>11 https://www.energy-transitions.org/wp-content/uploads/2023/08/ETC-Materials-Report_highres-1.pdf, p.81;https://rmi.org/wp-content/uploads/dlm_uploads/2023/12/xchange_batteries_the_battery_domino_effect.pdf, p.3</p>
<p>12 https://wwfint.awsassets.panda.org/downloads/the_future_is_circular___sintefmineralsfinalreport_nov_2022__1__1.pdf, p.2</p>
<p>13 https://www.firstsolar.com/-/media/First-Solar/Sustainability-Documents/Sustainability-Policies/First-Solar-Corporate-Sustainability-Policy.ashx#:~:text=First%20Solar%20is%20committed%20to,product%20end%2Dof%2Dlife</p>
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<h3>Lead Filer</h3>
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<div class=”views-field views-field-nothing”><span class=”field-content”> Elizabeth Levy</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>As You Sow</span></div>
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