Integrating Corporate Social Responsibility and Sustainability for Deep Seabed Mining

Deep seabed mining is a high-risk activity due to its economic, environmental, social, and technical challenges. As the only international organization that has the authority to enact and enforce regulations for activities in the international seabed (Area), the International Seabed Authority (ISA) has established a number of exploration contracts with member States and their sponsored firms. These sponsoring States, including both developing and developed countries, should adhere to the same standards for ensuring responsible mining. There are trends in the linkage between corporate social responsibility (CSR) and sustainability for addressing social and environmental concerns on the global arena. Although entities that intend to conduct seabed mining can be regarded as triggers of environmental and biological changes, they are generally equipped with capacities to solve relevant problems, such as filling gaps in laws, regulations, and practices. The CSR framework can be a model for governing common resources to promote sustainability. However, the implementation of CSR varies among contractors in the Area, and how CSR can contribute to all humanity is still unknown. This chapter investigates practices of existing contractors and explores the role of corporations in sustainable development of the Area. It investigates the contract-based system, including the present status of contracts, the rights and responsibilities of contractors and sponsoring States, and a parallel system for benefit-sharing. It also provides some feasible approaches to integrating CSR and sustainability pertaining to the Area.