Green Economy in a Blue World-Full Report

that adopting sustainable practices including comprehensive sustainability reporting is necessary. But ultimately it is up to governments to ensure that deep-sea mining meets the expectations of communities and consumers both to support sustainable development and to produce the commodity in a way whichmeets acceptable environmental and social standards. Managed properly, resource development can build wealth for both current and future generations, but it requires long-termthinkingby governmentsandconstituents.The timeframe for development must allow for the establishment of a proper regulatory and legislative framework

and appropriate mechanisms for the creation and management of wealth. The central requirement for resource-development success appears to be good governance. This includes integrated systems which ensure standards of compliance and responsible fiscal management. Deep-sea mining could even be a driver for improved governance, helping to build strong and capable institutions. When evaluating a policy course of action in relation to non-renewable natural resource extraction, all states should be encouraged to explore progressive approaches which may be better suited to their respective goals.

in a Blue World

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