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The Metals Company Publishes Inaugural Impact Report Detailing Future Operations and Strategy for Net-Positive Planetary Impact
TMC’s first Impact Report outlines the Company’s mission to create a carefully managed metal commons by unlocking the planet’s largest undeveloped source of
About this update from Tmc The Metals Company Inc.
[{"type":"text","content":"TMC’s first Impact Report outlines the Company’s mission to create a carefully managed metal commons by unlocking the planet’s largest undeveloped source of high-grade battery metals amid surging demand for these materials as the world seeks to address the climate crisisIn the context of an accelerated transition to renewable energy and electric transport, TMC outlines the anticipated impacts and mitigation measures for its plans to collect polymetallic nodules from the Clarion Clipperton Zone (CCZ) of the Pacific OceanIn addition to providing operational and environmental program details, the report breaks down TMC’s governance and stakeholder engagement, the regulatory context surrounding the nodule collection industry in international waters, and the Company’s relationships with its Pacific Island sponsoring states: Nauru, Tonga and Kiribati NEW YORK, May 26, 2022 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “The Metals Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today released its first Impact Report detailing the Company’s past, present and expected future ESG impacts, while providing insight into the drivers of its efforts to collect nodules from the CCZ including the global scramble to meet an estimated six-fold increase in the production of metals required for the energy transition. The report provides a forward-looking view of the impacts of TMC’s expected operations and its efforts to reduce or eliminate these before a single nodule is commercially collected, in line with the Company’s focus on creating a net-positive planetary impact. The report outlines the case for polymetallic nodules in the CCZ as an alternative, large-scale supply of potentially lower-impact nickel, cobalt, copper and manganese, as compared with terrestrial sources, and outlines the Company’s goal of using nodule-derived metals to build up recyclable stocks of battery materials as the basis of a future circular metals economy. Gerard Barron, CEO & Chairman of The Metals Company, said: “To build a green future, our generation will need to mine more metal than we have mined in our entire history. This will lead to more emissions, more social displacement, more habitat destruction and more biodiversity loss. The questions are: How much? Where? Who will bear the brunt of the ESG...