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International Documents on Corporate Responsibility

Edited by Stephen Tully

International Documents on Corporate Responsibility includes the principal international, regional and national instruments drafted by intergovernmental organisations or states as well as codes of conduct formulated by industry associations, trade unions and non-governmental organisations. The coverage includes the fields of human rights, international criminal and environmental law, labour standards, international trade, armed conflict, sustainable development, corruption, consumer protection and corporate governance. Each document is accompanied by a brief explanatory commentary outlining the historical origins of the instrument, the principal actors involved, controversial negotiation issues, applicable implementation procedure, and identifies further reference material.
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Chapter 66: International Seabed Authority: Regulations on Prospecting and Exploration for Polymetallic Nodules in the Area , 2000


66. International Seabed Authority: Regulations on Prospecting and Exploration for Polymetallic Nodules in the Area, 2000 Commentary: The UN Convention on the Law of the Sea (UNCLOS, UN Doc A/CONF.62/122 (1982), entry into force 1994) defines the roles and responsibilities of national vessels to utilise living marine resources including fishing rights. It also envisages that exploring and exploiting the seabed, ocean floor and subsoil thereof shall be carried out for the benefit of humanity. Commercial exploitation of the deep seabed and the position of pioneer investors became the subject of lengthy intergovernmental negotiations: see further, Resolution II Governing Preparatory Investment in Pioneer Activities Relating to Polymetallic Nodules 21 ILM 1254 (1982); Agreement concerning Interim Arrangements relating to Polymetallic Nodules of the Deep Sea-Bed 21 ILM 950 (1982); Provisional Understanding Regarding Deep Seabed Mining 23 ILM 1354 (1984); Declaration adopted by the UNCLOS Preparatory Commission, UN Doc LOS/PCN/72 (1985); New York Agreement Relating to the Implementation of Part XI of the 1982 Convention on the Law of the Sea 33 ILM 1309 (1994). For academic comment, see Dubow M. (1982), ‘The Third United Nations Conference on the Law of the Sea: questions of equity for American business’, Northwestern Journal of International Law and Business, 4, 172. Consideration was ultimately given to formulating an intergovernmental code of conduct: see UN (1998), ‘Seabed Council Receives Mining Code Draft’, Press Release SEA/1578; UN (1998), ‘International Seabed Authority to Resume Work on Mining Code’, Press Release SEA/1573. Finally, the International Seabed Authority (ISBA) approved these...

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