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Tesla, General Motors Under Pressure on Deep-Sea Mining

Shareholders in Tesla and General Motors have filed resolutions for the 2024 proxy season calling for a deep-sea mining (DSM) moratorium. Unlike other automotive manufacturers – including BMW, Volvo, Volkswagen and Renault – Tesla and General Motors have yet to clarify their position on the controversial issue. A commitment not to engage in DSM directly or through their supply chains would reassure shareholders and the wider automotive industry that Tesla and General Motors will not contribute to further environmental degradation, as demand for critical minerals for electric vehicles continues to rise. “Biodiversity is an accessible and understandable issue for the public and investors,” said Elizabeth Levy, Biodiversity Programme Coordinator at US shareholder advocacy firm As You Sow. “Absent deep-mining policies is one of the many areas where shareholders see their companies out of step with national and global goals to protect nature and the innumerable services it offers to companies, communities and the world. This is only the beginning of biodiversity proposals.”

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