Yet another Executive Order was issued with direct environmental and sustainability implications – Unleashing America’s Offshore Critical Minerals and Resources. The EO requires the Secretary of Commerce, within 60 days
“through the Administrator of the National Oceanic and Atmospheric Administration, and in consultation with the Secretary of State and the Secretary of the Interior, acting through the Director of the Bureau of Ocean Energy Management, [to] expedite the process for reviewing and issuing seabed mineral exploration licenses and commercial recovery permits [and]
in coordination with the Secretary of the Interior and the Secretary of Energy, and in consultation with the heads of other relevant agencies, provide a report to the Assistant to the President for Economic Policy, the Chair of the National Energy Dominance Council, and the Vice Chair of the National Energy Dominance Council that identifies private sector interest and opportunities for seabed mineral resource exploration, mining, and environmental monitoring in the United States Outer Continental Shelf…”
This could be seen as somewhat incongruent with the administration’s policies against electrification/transition economy – which are considered the largest market for critical minerals prospectively. However, what is perhaps more complicated is the EO’s explicit scope to reach “beyond [US] national jurisdiction.” We’ll see how that plays out.
This is a most unwelcome development. The Little Mermaid, her friends and Aquaman may be in real trouble.
If you aren’t already subscribed to our complimentary ESG blog, sign up here for daily updates delivered right to you.
DID YOU KNOW … we are much more than just blogs. Check out our range of resources and become a member today.
