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.
Original language | English |
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Pages (from-to) | 2736-2746 |
Number of pages | 11 |
Journal | WSEAS Transactions on Business and Economics |
Volume | 21 |
DOIs | |
Publication status | Published - 2024 |
Externally published | Yes |
Keywords
- deep sea mining
- Energy transition
- environmental protection
- international project financing
- private-public partnership
- project financing
- sukuk
- UNCLOS
ASJC Scopus subject areas
- Economics and Econometrics
- Strategy and Management
- Organizational Behavior and Human Resource Management
- Marketing