First Solar Adopts First Deep Sea-Mined Mineral Exclusion Policy in the Solar Power Sector

As You Sow announced that First Solar Inc. (NYSE: FSLR) committed to exclude minerals mined from the deep seabed from its supply chain until scientific findings are sufficient to assess the environmental risks of this potentially devastating new mining process. In response, shareholder representative As You Sow has withdrawn a shareholder proposal with the Company that addressed use of deep sea mined minerals. 

Deep sea mining trawls the deep seabed, indiscriminately destroying the sea life and ecosystems in its path while releasing sediment plumes laced with toxic metals.1cause a cascading effect of biodiversity loss far beyond the mining site, potentially disrupting entire food webs. The mining process also releases long held carbon stores, increasing the speed of climate change and its devastating global impacts. 

First Solar’s commitment to avoid minerals mined through this destructive practice aligns with the Global Moratorium on Deep Sea Mining, signed by over 30 governments and 60 companies, including Apple, Google, Rivian, Salesforce, and Samsung. Signatories pledge to keep their supply chains free from deep sea mined minerals until scientific findings are sufficient to assess the environmental risks of this deleterious new practice.  

“First Solar’s commitment leads the way to ensuring that we don’t unwittingly create yet another globally destructive practice,” said Elizabeth Levy, Biodiversity Program Coordinator at As You Sow. “Companies that promote deep sea mining insist that we need deep seabed minerals now to fuel the energy transition; First Solar’s insistence on a precautionary process challenges this false narrative and shows others in the renewable energy industry that we don’t need to exploit the deep sea, potentially irrevocably, for the energy transition to continue.”  

Building a circular economy for minerals now can alleviate the pressure for mineral extraction, rendering deep sea mining unnecessary, while laying the foundation for more sustainable energy systems in the future. For two decades, First Solar, as a leader and an innovator, has demonstrated a strong commitment to circularity. The Company established the first solar panel recycling program in 2005 and has recycled more than 400,000 metric tons of solar panels to date – more than any other solar panel recycler. In 2023, First Solar’s recycling facilities achieved a global average material recovery rate of approximately 95%. 

“First Solar can confidently make a commitment to keep seabed minerals out of its supply chains because the Company understands the power of circularity,” said Levy. “Its recycling accomplishments and new deep sea mining policy are testaments to the Company’s dedication to sustainability and responsibility to people and the global ecosystem.”  

The highly controversial practice of deep sea mining remains unregulated due to lack of consensus from the International Seabed Authority (ISA) on how to mine the seabed safely and sustainably. The ISA has delayed releasing a finalized deep sea mining code several times in past years. As evidence of the environmental harms, regulatory risks, and the financial dubiousness of deep sea mining mounts, shareholder representative As You Sow is engaging with companies in key sectors that drive demand for critical minerals found in the deep sea. As You Sow has refiled proposals at General Motors and Tesla asking the Companies to implement sourcing policies that exclude deep sea mined minerals.   

As You Sow | https://www.asyousow.org/