International Seabed Authority

Syllable breakdown

Dictionary meaning

an intergovernmental organisation established under UNCLOS and its 1994 Implementation Agreement to regulate the exploration and exploitation of mineral resources in the international seabed area — the vast stretches of the ocean floor beyond national jurisdiction, designated under UNCLOS as the common heritage of mankind; the ISA issues exploration contracts for polymetallic nodules, polymetallic sulphides, and cobalt-rich ferromanganese crusts to state-sponsored and private contractors, while developing the environmental regulations and payment mechanisms intended to ensure that benefits from eventual commercial mining are shared with all states, particularly developing countries; the prospect of commercial deep-seabed mining has become increasingly controversial as environmental scientists warn that mining the abyssal plain would cause serious and potentially irreversible damage to ecosystems that are poorly understood, leading some states and companies to call for a moratorium on commercial exploitation until adequate environmental standards can be established