On Thursday, the Council of the International Seabed Authority (ISA) addressed issues related to the Enterprise, an organ foreseen in the UN Convention on the Law of the Sea (UNCLOS) as ISA’s own mining arm. Delegates discussed the operationalization of the Enterprise, a draft joint venture proposal between the ISA and Poland, and a draft decision on the terms of reference for the Special Representative for the Enterprise.
In the breezeways, the ENB notes that discussions on a potential joint venture raised questions on terms related to benefit-sharing, transparency, liability, and environmental protection. It was clear that more work would be required to realize operationalization of the Enterprise. On retention of the Special Representative for the Enterprise, delegates seemed close to a decision on whether to extend and renew the contract to keep moving forward on behalf of the common heritage. [Read full report]