Year: 2024
Type: article
Abstract: Seabed mining, which focuses on extracting minerals from the ocean floor, is vital for the sustainable development of the green economy. With current initiatives targeting coastal waters exceeding 200 meters deep, these areas yield sand, tin, and diamonds crucial for meeting the growing demand in the energy transition and new technologies. Unlike onshore mining, deep-sea mining lacks stringent national regulations, presenting an opportunity for Islamic finance. This alternative aligns with long-term investment principles, risk sharing, and environmental responsibility, addressing the absence of an international legal framework. The essay explores the benefits of Islamic finance in funding deep-sea mining, ensuring project viability, sustainability, and environmental preservation. Additionally, an artificial intelligence framework is proposed to optimize funding for such projects.
Authors: Klemens Katterbauer, Rui Alexandre Castanho, Hassan Syed, Daniel Meyer, Laurent Cleenewerck, Sema Yilmaz
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4407562272