A new way to meet the growing demand for minerals critical to electric vehicle, electronics and battery manufacturers could become commercially available within this decade. Significant public and private investment have gone into how to extract cobalt, nickel, lithium and other minerals from the deep seabed; however, more than 80 non-governmental organizations have voiced concerns about the dangers of commercial extraction.
While venues exist for countries, scientists, seabed mining industry and environmental organizations to discuss deep-sea mining, companies that use these kinds of minerals – the product manufactures and metal markets – previously did not have a place to learn about and discuss this topic. To create the space needed for this industry to come together, discuss and engage on this complex issue, the World Economic Forum has launched the Deep-Sea Minerals Dialogue.
The World Economic Forum is an impartial platform for dialogue and often brings together competitors and groups that may not traditionally work together to discuss complex issues. This new platform will utilize the Forum’s multistakeholder approach and hopes to convene responsible businesses and accelerate their participation on this topic. The new platform will leverage experts with different points of views and analyse decision-making systems and learnings from existing industries.
Dominic Waughray, Managing Director, World Economic Forum said: “Deep-sea mining is a cross-cutting topic that could affect both progress on climate action as well as the preservation of biodiversity and is connected with the transition to a circular economy. Stakeholders owe it to themselves and to the planet alike to make the wisest decision possible.”
The next years are critical as regulatory, technology and investment decisions are being made. These decisions could determine the environmental and social impact of deep-sea minerals. Although the minerals may not enter supply chain for a few years, examples involving cobalt mining from the Democratic Republic of Congo and palm oil supply from Indonesia, show that failing to act early, can result in costly efforts to clean up the supply chain and reputational impact afterwards.
A new briefing paper released today, Deep-Sea Minerals: What Manufacturers and Markets Need to Know, highlights why mineral sourcing manufacturers and metal markets need to engage now on the deep-sea mineral discussion.
It highlights responsible sourcing considerations for companies that use or exchange metals and minerals, complementing existing reports on the gap between mineral supply and demand as well as the lack of scientific understanding of the deep sea and potential impacts of mineral extraction.
The paper underscores a trend of manufacturers and metal markets increasing their attention on the environmental and social conditions of the minerals they source. It the first in a series of three about the potential extraction of deep-sea minerals, written for manufacturers and market exchanges.
Assheton Stewart Carter, CEO of TDI Sustainability, said: “Decisions being taken now on the development of deep-sea minerals have implications for ocean conservation, responsible sourcing, sustainable production and even for our fight against accelerating climate change. It is a topic of generational importance. We have learned from other industries – such as oil sands development, hydro-electric dams, nuclear power generation – that when decisions to proceed with megaprojects fail to be inclusive and informed by science, it can lead to delays, irreversible social and ecological damage, or abandoned assets – for once we have the opportunity to engage and contribute to opinions on whether and how deep-sea mineral are developed before the industry has begun in earnest. We should grasp it.”
An App to Ease Safety QR Check-Ins Wins the 2021 APEC App Challenge
An app that makes it easy for people in the region to do their safety QR code check-ins, developed and designed by a team from Australia, has won the 2021 APEC App Challenge, held on the eve of the 2021 APEC Ministers Responsible for Trade meeting (MRT). The announcement was made by Damien O’Connor, New Zealand’s Minister for Trade and Export Growth, who chaired the meeting.
In its fifth year, the APEC App Challenge asked software developers and designers from across the region to build new mobile and web tools that can help the revival of the tourism sector and promote a safe and trustworthy travel environment, especially as the APEC region prepares for a resumption of travel.
The APEC 2021 host economy, New Zealand, has based the competition on a key priority for the forum this year: pursuing innovation and a digitally enabled recovery.
“As member economies work to facilitate the movement of people around the region, it is important to pursue digital tools that support the resumption of travel—when the time is right,” said Minister O’Connor.
“The safe resumption of cross-border travel will be critical to the region’s recovery,” Minister O’Connor said. “Returning to sustainable tourism numbers will support a wide range of businesses, boost employment, and underpin inclusive growth.”
Bryce Cronin and Saira Ambrose, who are from Australia, developed the OneQR Check-In app to help travelers scan and complete their safety check-ins quicker no matter the destination in the region. The winning team will receive a prize of USD 4,000.
“Around the region, people now need to do a safety check-in using a QR code before entering a venue,” said Ambrose. “As we prepare for a safe resumption of travel, QR check-ins will play an even more prominent role.”
The app works by showing travelers what QR check-in app they need to use or install when they travel to a different location. If the local check-in app has been installed on the traveler’s phone, OneQR will redirect travelers to the app. If not, OneQR will direct travelers to the phone’s app store to install the local safety check-in app.
“We believe that the safety check-in process should be quick, easy and simple,” Cronin explained. “Our app aims to assure travelers and hopefully contribute to building back the confidence of the tourism sector both for businesses and travelers.”
Seirios, an app to help travelers rediscover local attractions with a COVID-19 safety rating, by an Australian team won second prize. Wanderer, an app that offers a safer shopping experience, by a Malaysian team won the third prize of the 2021 APEC App Challenge. The developers of Seirios and Wanderer will receive USD 3,000 and USD 2,000, respectively.
“The APEC App Challenge is not only a creative competition for young software developers and designers,” said Dr Rebecca Sta Maria, Executive Director of the APEC Secretariat, “it is a critical measure for addressing the current challenges within APEC where we need to bring together various stakeholders in the region, including the youth, to solve the biggest economic and health crisis of our generation, together.”
“This year’s App Challenge has highlighted an issue we’ve all been wondering about: how can we help generate income in communities that are heavily reliant on tourism and have been hit hard by the pandemic?” said John Karr, The Asia Foundation’s Senior Director of Technology Programs. “Participants have developed a range of solutions that highlight the ability of digital tools to help people discover safer and more local recreation opportunities, and—where it’s possible—get people moving again.”
“Tourism is vital to local economies and livelihoods across Asia-Pacific, and the impact of the pandemic has hit regional communities and small business owners especially hard,” said Scott Beaumont, President of Google Asia-Pacific. “There is a long road to recovery, but technology can help the industry rebuild and emerge stronger—and these brilliant developers are showing us the way.”
Commission proposes a trusted and secure Digital Identity for all Europeans
The Commission today proposed a framework for a European Digital Identity which will be available to all EU citizens, residents, and businesses in the EU. Citizens will be able to prove their identity and share electronic documents from their European Digital Identity wallets with the click of a button on their phone. They will be able to access online services with their national digital identification, which will be recognised throughout Europe. Very large platforms will be required to accept the use of European Digital Identity wallets upon request of the user, for example to prove their age. Use of the European Digital Identity wallet will always be at the choice of the user.
Margrethe Vestager, Executive Vice-President for a Europe Fit for the Digital Age said: “The European digital identity will enable us to do in any Member State as we do at home without any extra cost and fewer hurdles. Be that renting a flat or opening a bank account outside of our home country. And do this in a way that is secure and transparent. So that we will decide how much information we wish to share about ourselves, with whom and for what purpose. This is a unique opportunity to take us all further into experiencing what it means to live in Europe, and to be European.”
Commissioner for Internal Market Thierry Breton said: “EU citizens not only expect a high level of security but also convenience whether they are dealing with national administrations such as to submit a tax return or to enroll at a European university where they need official identification. The European Digital Identity wallets offer a new possibility for them to store and use data for all sorts of services, from checking in at the airport to renting a car. It is about giving a choice to consumers, a European choice. Our European companies, large and small, will also benefit from this digital identity, they will be able to offer a wide range of new services since the proposal offers a solution for secure and trusted identification services.”
The European Digital Identity framework
Under the new Regulation, Member States will offer citizens and businesses digital wallets that will be able to link their national digital identities with proof of other personal attributes (e.g. driving licence, diplomas, bank account). These wallets may be provided by public authorities or by private entities, provided they are recognised by a Member State.
The new European Digital Identity Wallets will enable all Europeans to access services online without having to use private identification methods or unnecessarily sharing personal data. With this solution they will have full control of the data they share.
The European Digital Identity will be:
- Available to anyone who wants to use it: Any EU citizen, resident, and business in the Union who would like to make use of the European Digital Identity will be able to do so.
- Widely useable: The European Digital Identity wallets will be useable widely as a way either to identify users or to prove certain personal attributes, for the purpose of access to public and private digital services across the Union.
- Users in control of their data: The European Digital Identity wallets will enable people to choose which aspects of their identity, data and certificates they share with third parties, and to keep track of such sharing. User control ensures that only information that needs to be shared will be shared.
To make it a reality as soon as possible, the proposal is accompanied by a Recommendation. The Commission invites Member States to establish a common toolbox by September 2022 and to start the necessary preparatory work immediately. This toolbox should include the technical architecture, standards and guidelines for best practices.
In parallel to the legislative process, the Commission will work with Member States and the private sector on technical aspects of the European Digital Identity. Through the Digital Europe Programme, the Commission will support the implementation of the European Digital Identity framework, and many Member States have foreseen projects for the implementation of the e-government solutions, including the European Digital Identity in their national plans under the Recovery and Resilience Facility.
The Commission’s 2030 Digital Compass sets out a number of targets and milestones which the European Digital Identity will help achieve. For example, by 2030, all key public services should be available online, all citizens will have access to electronic medical records; and 80% citizens should use an eID solution.
For this initiative, the Commission builds on the existing cross-border legal framework for trusted digital identities, the European electronic identification and trust services initiative (eIDAS Regulation). Adopted in 2014, it provides the basis for cross-border electronic identification, authentication and website certification within the EU. Already about 60% of Europeans can benefit from the current system.
However, there is no requirement for Member States to develop a national digital ID and to make it interoperable with the ones of other Member States, which leads to high discrepancies between countries. The current proposal will address these shortcomings by improving the effectiveness of the framework and extending its benefits to the private sector and to mobile use.
Carbon neutral nickel and tokens – Russian Norilsk Nickel 2021
Russian mining giant Norilsk Nickel plans to produce the first batch of carbon neutral nickel this year and is expanding its participation in blockchain platforms, company officials said.
Over the past two years, Norilsk Nickel has reduced its carbon footprint by more than 70,000 tonnes and plans to produce the first batch of carbon-neutral nickel in the near future, Interros head Sergey Batekhin told reporters.
Interros, Norilsk Nickel’s largest shareholder.
The “green” status of these products of the company will not be ensured by offsets, but through a certain set of measures that made it possible to offset the carbon footprint of this batch. In early June, the company’s board of directors approved a new environmental strategy aimed at further reducing emissions and improving energy efficiency. At present, Norilsk Nickel is in the lower segment of the global indicators of the intensity of greenhouse gas emissions and is the leader in the use of renewable energy sources: in 2020, the share of electricity obtained from renewable sources amounted to 46% for the group as a whole. According to Batekhin, the carbon neutral metal will be in demand by the world’s most demanding manufacturers such as Tesla, Apple and others, especially in anticipation of the carbon tax that the EU plans to introduce from 2023.
This is also facilitated by additional projects that could be operational by 2025, further reducing the carbon footprint. For example, the transition of a part of mining equipment to NGV fuel.
Norilsk Nickel is preparing to build an LNG plant. The project is expected to be completed within 3-4 years. The commissioning of the plant will be synchronized with the peak of the use of large equipment in mining pits in 2024-25.
Interros also entered the consortium of investors for the Atomyze blockchain platform, Batekhin said.
Atomyze deals with the tokenization of physical assets, that is, the translation of them into digital form. One of the first issuers of Atomyze was Norilsk Nickel, which last year issued tokens for its metals on this platform. Tokens are actively traded on the London and Frankfurt stock exchanges; they are planned to be placed on other world platforms. “Own platforms for tokenization are an element of a full-fledged infrastructure of the digital economy, which is important from the point of view of ensuring digital equality of Russia with the world’s largest economies,” Batekhin said. The Atomyze platform exists in American and Swiss jurisdictions pending permission from the Central Bank of Russia. At the end of May, the Russian Union of Industrialists and Entrepreneurs asked the Central Bank to speed up the licensing of tokenization platforms in Russia.
Earlier, Norilsk Nickel, the world’s largest producer of palladium and nickel, has issued the first tokens involving metal contracts to its major industrial partners Traxys SA and Umicore SA.
Norilsk Nickel was one of the first in the industry and in the world to launch this mechanism.
Atomyze uses Distributed Ledger Technology (DLT) to tokenize assets in digital form providing accessibility, reducing costs, and increasing transparency. GPF, the platform’s first client, is issuing tokens covering the whole range of metals produced by Nornickel — via the Atomyze tokenization platform operated by Tokentrust AG.
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