(Samsung SDI)
South Korean battery maker Samsung SDI is among the first four companies in the world to sign on to a World Wildlife Fund call for a moratorium on deep-sea mining, according to an announcement by WWF on Wednesday.
The battery-making affiliate of Samsung Electronics joined Google, BMW and Volvo in committing not to source any minerals -- such as cobalt, copper, nickel and manganese -- from the seabed or finance deep-sea mining activities, and to exclude minerals obtained this way from their supply chains.
“With much of the deep sea ecosystem yet to be explored and understood, such activity would be recklessly short-sighted,” WWF said in a statement.
As such minerals are key to making batteries, Samsung SDI’s commitment has grabbed the industry’s attention.
Demand for the minerals has soared in recent years as the market for electric vehicles has grown.
Samsung SDI said it was the first battery maker, as well as the first Korean firm, to participate in WWF’s initiative.
“Many view Samsung’s participation in the global initiative positive as the first in the battery industry,” the company said in a statement. “The company will make efforts to materialize ESG management through responsible supplies of materials.”
By Song Su-hyun (
song@heraldcorp.com)