"Global: The hidden money behind deep-sea mining, incl investors comments" 31 January 2026

'More than 20 financial institutions worldwide have publicly vowed not to finance deep-sea mining — an activity scientists say could cause irreversible harm to ocean ecosystems. However, a DW investigation has found that some have invested at least $684 million (€581 million) in companies linked to the industry. (...)

Among the investors are some of the world's largest financial institutions — including Deutsche Bank, UBS, Credit Suisse, Credit Agricole and BNP Paribas — according to DW's analysis of company filings compiled by Greenpeace Germany's investigation unit. (...)

When contacted by DW, Deutsche Bank and Credit Agricole said their commitments apply to financing specific projects, not to investments in companies. Critics argue this distinction allows banks to avoid directly funding individual seabed-mining operations while continuing to invest in companies preparing to mine — akin to refusing to finance an oil drilling site for climate reasons but still buying shares in the drilling company.

The other banks did not respond to DW's questions.

"It's greenwashing," said Mauricio Vargas, a former investment strategist turned financial expert at Greenpeace. "Banks want to avoid negative PR related to environmental controversies."