As global demand for critical minerals rises, pressure is growing to extract resources from increasingly remote and fragile environments – including the deep sea. Yet deep-sea mining (DSM) carries significant environmental, social, economic and regulatory risks. These concerns have long been raised by scientists, governments, civil society and Indigenous and coastal communities. Increasingly, they are also being recognised by the financial sector.
New research by Seas At Risk and the Deep Sea Mining Campaign shows that 82 financial institutions representing around €24 trillion in assets have adopted policies restricting or expressing concern about DSM. This includes banks, asset managers, insurers and public financial institutions. Of these, 37 institutions explicitly exclude financing, insurance or investment in DSM, while others place strict conditions on any potential involvement.
The findings reveal rapidly growing momentum within financial markets. Almost half of the exclusion policies identified were adopted within the past 12 months, reflecting increasing awareness of biodiversity risks and the financial liabilities associated with DSM.
This shift suggests the sector is approaching a critical threshold: much like tobacco or fossil fuels before it, DSM is increasingly seen as an industry that responsible financial institutions may choose to avoid altogether.
Posted on: 11 March 2026
