Endowment Fund Makes For Strange Seabed-Fellows

New York (ots/PRNewswire) - Environmental, commercial
mining and scientific interests in deep-sea areas may seem to be at
odds, but the International Seabed Authority's Endowment Fund shows
the alliance as a successful model for sustainable use of ocean
resources.

"Technological advancements and the rising price of minerals have
created favourable economic conditions for seabed mining," said Mr.
Satya Nandan, Secretary-General of the International Seabed Authority
(ISA). "At the same time, we have a greater understanding of the
environment in which these resources occur - and how to prevent undue
harm to it when we're ready to undertake mining activities."

Deep-seabed mining in an area that covers more than half the
earth's surface is one of few activities that has been studied and
regulated to such a detailed extent before the activity has even
taken place. While commercial seabed mining in international ocean
areas has been delayed for the past twenty-five years, scientists
have built an understanding of the deep-sea environment that, in
turn, has allowed legal and environmental regulations for
international seabed mining to be established and internationally
adopted.

Building on the success of this model, the International Seabed
Authority established an Endowment Fund for Collaborative Marine
Scientific Research. The purpose of the Fund is to expand research
opportunities in the deep-sea environments for the participation and
inclusion of developing country scientists and other technical and
research personnel.

Governments, environmental and other non-governmental
organizations, scientific and academic representatives, and others
learned more about the ISA Endowment Fund this week during a meeting
on marine biodiversity taking place in New York at the United Nations
headquarters. The event included presentations by InterRidge
Coordinator, Dr. Stace Beaulieu and Chief Marine Geologist at the
Geological Survey of Brazil, Mr. Kaiser de Souza. The Government of
the United Kingdom also took the opportunity to announce a new
financial contribution to increase the activities of the Fund.

"Research in deep-sea areas is important for so many scientific,
environmental, developmental and social reasons," said Mr. Nandan. "I
am encouraged by the growing number of partners in our endowment
fund."

For more information on the Fund, and to learn more about the
growing network of participating institutions, visit
http://www.isa.org.jm/en/efund.

For further information: Shannon Sheil, Media Relations
Consultant, International Seabed Authority, +1-613-761-3227; Michael
W. Lodge, Legal Counsel, International Seabed Authority,
+1-876-967-2200

ots Originaltext: International Seabed Authority Company
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For further information: Shannon Sheil, Media Relations Consultant,
International Seabed Authority, +1-613-761-3227; Michael W. Lodge,
Legal Counsel, International Seabed Authority, +1-876-967-2200