Latest news with #marineecosystems
Skift
5 days ago
- Business
- Skift
Rosewood's Luxury Bahamas Resort Faces Backlash Over Threat to Carbon-Storing Seagrass
As climate risks grow, projects catering to the few ultra-wealthy raise tough questions about who really benefits and who bears the cost. A plan for a new ultra-luxury resort in the Bahamas is drawing backlash from local groups and environmentalists, who warn the development could damage vital marine ecosystems that help fight climate change. The proposed resort, Rosewood Exuma, is slated to open in 2028 on East Sampson Cay, a 124-acre private island in the Exumas. Developed by Miami-based firm Yntegra, the project includes 33 luxury suites, a 20,000-square-foot wellness center, multiple pools, and two marinas capable of hosting yachts up to 150 feet. It also includes a 150-unit employee housing facility and Yntegra says the resort will bring 500 jobs and support local communities. It will be powered by solar energy and promises to offset environmental damage by restoring up to three times as much marine life as it disturbs. But critics say that doesn't go far enough. Environmental Impact Under Fire
Zawya
27-05-2025
- Business
- Zawya
Hong Kong at Maritime Crossroads: New Studies Reveal Unprecedented Opportunity for Kickstarting the Blue Economy
HONG KONG SAR - Media OutReach Newswire – 27 May 2025 - In a rare convergence of economic and environmental expertise, three landmark studies released today by ADM Capital Foundation, HKUST and WWF-Hong Kong, presenting a transformative vision—Hong Kong can reinvent itself as Asia's premier blue economy hub. The reports— Port 1.0 to Port 2.0 (HKUST), Blue Finance for a Blue Economy (ADMCF), and Valuing the Invaluable Blue (WWF-Hong Kong)—all agree that the city has a unique opportunity in this moment, wherein: Global shipping reforms are creating openings for blue finance leadership Port redevelopments can integrate ecological and economic value Marine ecosystems, long undervalued, are essential to regional prosperity and resilience Global shipping reforms – IMOs net zero emission and carbon pricing mandate will force fleet upgrades, fuel transitions and new financial risks. In parallel, the UN has announced an ambitious biodiversity framework to be achieved by 2030. Hong Kong, itself, is striving to re-assert itself as a maritime powerhouse. This alignment, the authors propose, creates an unprecedented opportunity to transform the city into Asia's sustainable blue economy leader. At the heart of this transformation lies 'Port 2.0' – a visionary reimagining of Hong Kong's waters as a multifunctional interface that connects sea, land, city, technology and people, and serve as platforms for innovation, environmental stewardship and civic life. " What makes this moment truly extraordinary is how these elements intersect with Hong Kong's unique advantages. Our world-class financial ecosystem can mobilise the billions needed for maritime decarbonisation. Our strategic location positions us as the natural hub for green shipping business in Asia. And our existing port infrastructure provides the ideal testing ground for innovative solutions." said Christine Loh, Chief Development Strategist, Institute for the Environment at HKUST and author of the paper "From Port 1.0 to Port 2.0: Hong Kong's Next Leap to Evolving a Blue Economy Vision". Hong Kong's status as the world's third-largest capital hub gives it unmatched potential to pioneer blue finance. As ADMCF's Blue Finance report highlights, instruments such as blue bonds can mobilise capital to facilitate port decarbonisation, sustainable aquaculture and marine eco-tourism—transforming the city into Asia's premier blue economy hub, aligning marine protection with economic prosperity. In 2023 there was a surge in blue bonds followed by continued growth in 2024, and Asia was the largest issuing region—led by China. "If Hong Kong were to issue blue bonds, this would not only signal the city's commitment to improving its status as a leading international maritime hub but also accelerate the growth of blue finance, ensuring a future where economic prosperity and marine resilience go hand in hand," said Kate Martin, the report's lead author and sustainable finance consultant with ADMCF. This untapped potential aligns with the groundbreaking research in Valuing the Invaluable Blue. The WWF-commissioned study by the Chinese Academy of Sciences has, for the first time, quantified the staggering monetary value of the Greater Bay Area's coastal ecosystems—revealing a Gross Ecosystem Product (GEP) worth RMB 4.9 trillion, equivalent to over 35% of the GBA's GDP, with 73% contributed by marine ecosystems. " This valuation demonstrates our marine ecosystems' critical, yet often overlooked, economic contributions," said Lydia Pang, Head of Oceans Conservation at WWF-Hong Kong. " From climate regulation to disaster mitigation, these natural systems provide services worth over one-third of our regional GDP - services that should be factored into development decisions and anchor blue economy planning," she said. " What's more, our study shows that Hong Kong is uniquely positioned to adopt this ecosystem accounting framework. With strong data foundations, policy alignment, and technical readiness, we can localise and institutionalise marine GEP accounting to guide planning, investment, and conservation." The authors' combined focus on a blue economy vision integrates port development with marine conservation, biodiversity, climate resilience, recreation and the responsible use of ocean resources. It builds on China's decades of marine policy leadership, where comprehensive frameworks - from ocean GEP systems to blue finance instruments - have laid the foundation for sustainable maritime development. "The window to developing a sustainable blue economy and to establish ourselves as the global leader in sustainable maritime commerce is open now, but won't remain so indefinitely." Said Sophie le Clue, CEO at ADMCF. "The question isn't whether we can seize this opportunity, but whether we will." Hashtag: #ADMCapitalFoundation The issuer is solely responsible for the content of this announcement. ADM Capital Foundation
CTV News
25-05-2025
- Science
- CTV News
Living under the sea: How close are we to permanent underwater habitats?
An underwater research project is aiming to build the world's first permanent settlement beneath the ocean's surface. (Credit: DEEP) A bold underwater research project backed by an anonymous investor is aiming to push the boundaries of science and human habitation by building the world's first permanent settlement beneath the ocean's surface. Known as the DEEP project, the multi-million-dollar initiative is based in the United Kingdom and plans to establish a network of subaquatic bases called 'sentinels.' These underwater habitats will allow scientists to live and work beneath the ocean for months at a time. The project is headquartered in Gloucestershire, England, where a flooded former limestone quarry—now an 80-metre-deep lake—serves as a training site for scientists and a testing ground for submersibles. 'We need to recognize that the ocean is a critical component of our planet,' Wolford told CTV Your Morning in an interview Friday. 'It produces more than 50 per cent of the oxygen we breathe and plays a vital role in the carbon cycle. Yet, our understanding of it is still far too limited.' According to the U.S. National Oceanic and Atmospheric Administration, only about 26 per cent of the world's oceans have been properly mapped. DEEP aims to change that by placing researchers in permanent ocean habitats, giving them the ability to observe marine ecosystems continuously—something Wolford compares to the impact of the International Space Station. 'What the ISS has done for science and innovation, we believe this project can do for our understanding of the ocean,' Wolford said. 'Space exploration is vital, but we have an alien world here on Earth — the ocean. Let's explore this one first before we leave our own planet.' Wolford says the team is also studying how the human body adapts to long-term underwater living, drawing parallels to space exploration. 'What we're seeing in some cases are positive benefits, with improved health outcomes,' he said. 'The goal is to understand how our bodies evolve and adapt when exposed to new stresses.' Wolford added that daily life in the settlements will blend routine with research. 'You'd wake up, check emails, sip coffee while watching fish swim past your window. Then suit up and dive for hours to collect samples. After lunch, you'd continue work in the lab. And at night, you'd relax like anyone else—maybe watch the latest episode of White Lotus,' he said, emphasizing that this daily routine supports a much larger goal. 'If we want to become a multi-planetary species, the ocean is where we start. It's our training ground, our discovery lab, and the next frontier right here on Earth.'
Washington Post
21-05-2025
- Business
- Washington Post
Trump administration will evaluate request to sell leases for seabed mining of critical minerals
The Trump administration said Wednesday that it will consider selling leases to extract minerals from the seabed off the South Pacific island of American Samoa, a potential first step in a wider industry push to allow deep-sea mining that environmentalists oppose because they say it could irreparably harm marine ecosystems. The Department of Interior said it is responding to an April request from California-based company Impossible Metals for a commercial auction. The company wants to mine the ocean floor for deposits of nickel, cobalt and other critical minerals.
Zawya
21-05-2025
- Politics
- Zawya
Current legal frameworks can't protect the oceans from deep-sea mining
The international legal order is floundering. The geopolitical and resource policy priorities of the United States are shifting. These changes now implicate the international framework for governing the seabed: on April 24, US President Donald Trump signed an executive order that moves toward allowing deep-sea mining by the Americans. Driven by a critical minerals expansionary agenda, the US is considering measures to fast-track approvals for corporations to mine the international seabed. What is the difference — for marine environments — between excavation under an international legal framework or US domestic law? Both systems permit state and private organizations to mine vulnerable marine ecosystems: does an international framework offer stronger environmental protections than US law? A 'constitution' for the ocean Under the United Nations' watch, ocean conditions have declined. The international seabed zone encompasses 54% of the planet's surface. The designation was created in 1994 under the UN Convention on the Law of the Sea (UNCLOS). When described as the ' constitution for the oceans,' UNCLOS deceivingly implies that its role is protective. However, the treaty functions as architecture for exploiting ocean resources. It does this by dividing the ocean into zones that control how and where nations and corporations can exploit the seas. As well, it supports the idea of the ocean as a vast, exploitable resource. Weak environmental protections are offered in return. UNCLOS speaks little of either the ocean itself or of diverse human-ocean relationships. It is a constitution for the ocean, without the ocean. Regulating mining UNCLOS established the International Seabed Authority (ISA) to manage the international seabed as the ' common heritage of humankind.' Since it was established 30 years ago, the ISA has prioritized the development of a regulatory framework for commercial mining. But the ISA's stewardship of the deep seabed as humankind's common heritage involves more than the advancement of commercial mining. Given the multiple ocean crises intensifying under the impacts of climate change, it is bewildering that the ISA could still be pursuing such a destructive regime. Under UNCLOS, the ISA has legal responsibilities to protect the marine environment. Yet it doesn't have a comprehensive environmental policy, environmental management plan or dedicated scientific division. This is despite the central role marine science plays in understanding and protecting the ocean. Instead, the ISA appears to be patching together environmental regulations on the fly. Extractive interests The scientific data that the ISA relies on comes from the very companies seeking to mine the seabed. Commercial miners conduct their own environmental assessments and benchmarks, and as such, the ISA's governance approach appears to be one of companies self-regulating. Despite the ' ocean emergency ' and scientific concerns about marine ecological risks, the ISA maintains an extractivist path. It is now finalizing regulations to allow commercial mining in the Clarion–Clipperton zone of the North Pacific Ocean. If all exploration licences currently issued in this zone are converted to exploitation licenses, this will be the largest mining operation the planet has ever experienced. The ISA's 170 members, including the US, have upheld a consensus-based governance approach. In doing so, they've prevented any unilateral claims to the international seabed. Although the US never ratified UNCLOS, it too has largely observed the consensus-based legal order. Until now. The Metals Company (TMC), a Canadian deep-sea mining company, recently announced its intention to bypass the ISA and work with the Trump administration to pursue seabed mining in international waters. To do so, it will rely on the Deep Seabed Hard Mineral Resources Act (DSHMRA), administered by the National Oceanic and Atmospheric Association (NOAA). Congress had previously noted that this domestic law was always considered a temporary measure until the development of an acceptable system under UNCLOS. In principle, NOAA's deep ocean scientific expertise enables it to competently oversee US seabed mining. This includes assessing the potential environmental impacts of mining and ensuring the protection of the marine environment. It has already developed DSHMRA mining regulations within a ' precautionary and adaptive management framework.' Before granting a mining licence, NOAA is required to prepare and publish an environmental impact statement. However, recent staff cuts and the new administration's rollback of marine environmental protections potentially compromise its oversight capacity. How NOAA's scientific teams feel about fast-tracking a ' gold rush ' is another story. The ISA has denounced its snubbing by The Metals Company. However, by shopping around for a jurisdiction of convenience, TMC has inadvertently shone a spotlight on gaps in the ISA's environmental governance approach. Future marine research In the meantime, momentum for a ban or moratorium is growing. Without a foundational science policy or in-house scientific expertise, the ISA is ill-equipped to safeguard the deep ocean. Marine science offers a way to better understand the deep ocean and its vulnerabilities and can help re-imagine the ISA's direction toward a more generative role as an environmental steward. Through marine social sciences, ocean humanities and Indigenous knowledge, other pathways can be explored toward a better understanding of human-ocean relationships. The ISA has the potential to step up to its planetary stewardship role by developing policy guidelines to guide such transitions. The oceanographic background of the ISA's new secretary-General, Leticia Carvalho, bodes well. Perhaps this may happen through a renewed focus on marine science — time will tell. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
