TMC the metals company Inc..
TMC.US | Other mining and quarrying n.e.c.
TMC the metals company Inc. is focused on the collection, processing, and refining of polymetallic nodules found on the seafloor. These nodules contain high grades of nickel, copper, cobalt, and manganese, which are essential metals for electric vehicle batteries and renewable energy technologies. T...Show More
Better Health for All
0
No evidence available to assess TMC the metals company Inc. on Better Health for All.
Fair Money & Economic Opportunity
0
TMC is an industrial metals and minerals company focused on deep-sea mining, not a financial institution.
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The company does not offer lending, deposit, or other financial services to consumers. Therefore, all KPIs related to financial products, services, and customer financial outcomes are not applicable. While TMC engages in community initiatives like grants and scholarships in Nauru and Tonga,
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these do not constitute financial inclusion programs as defined by the rubric's focus on loan/insurance books or consumer financial services. Similarly, data transparency relates to environmental data, not customer financial data.
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The company has no debt on its balance sheet,
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but this KPI specifically refers to customer debt-to-income ratio, which is not applicable.
Fair Pay & Worker Respect
0
No evidence available to assess TMC the metals company Inc. on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
0
No evidence available to assess TMC the metals company Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
0
The provided articles detail allegations against TMC.US, including a proposed class action lawsuit for misleading investors and a formal complaint filed with the SEC alleging material misrepresentations and omissions in its 2023 Annual Report.
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These allegations cover areas such as over-optimistic financial forecasts, under-reporting opposition to deep-sea mining, and misrepresentation of asset values.
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However, the articles do not provide specific, concrete data points for any of the quantitative KPIs in the rubric, such as actual regulatory fines, transparency index scores, financial restatement numbers, or details on the strength and enforcement of policies like whistle-blower protection or anti-corruption. Therefore, no KPIs can be scored based on the evidence provided.
Kind to Animals
-40
TMC's deep-sea mining plans are described as driving ocean destruction and turning deep ocean habitats into a wasteland, with obligate nodule-dwelling fauna harmed or killed, and damage to seafloor populations requiring years to centuries to recover.
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The company's planned polymetallic nodule mining could impact 20 species of sharks, rays, and chimaeras.
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While TMC states it aims to create a net positive impact and commits to voluntary “no-take zones,” and has funded research and submitted extensive environmental baseline data, the direct harm to fauna and habitat destruction from its core operations are explicitly stated.
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TMC requires suppliers to comply with its Supplier Code of Conduct, but there is no evidence of welfare audits.
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The company supports community projects to build piggeries in Nauru and Tonga to provide meat and income, but no information on humane certifications or ethical practices for these operations is provided.
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TMC lobbied the International Seabed Authority (ISA) and used a legal loophole in 2021 to pressure the ISA to finalize a Mining Code, and is now asking Donald Trump for permission to mine in global oceans.
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Over 35 governments and 60 companies have called for a moratorium on deep-sea mining after TMC's actions.
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The company's R&D budget for its research program is $75 million, but there is no specific percentage allocated to animal-free technologies or alternatives.
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The company's business model does not involve animal-derived products or testing, hence several KPIs are N/A.
No War, No Weapons
0
No evidence available to assess TMC the metals company Inc. on No War, No Weapons.
Planet-Friendly Business
-40
TMC.US has conducted ISO-standards compliant and peer-reviewed lifecycle assessments (LCAs) for its NORI-D Polymetallic Nodule Project, which represents its core product line.
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The company's subsidiary, NORI, has submitted extensive environmental data, including over 12,000 seafloor images and biological samples, to the International Seabed Authority (ISA) for its NORI-D exploration area, forming the basis for its Environmental Impact Assessment (ESIA).
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This data collection covers three years of monitoring and is part of a decade-long effort.
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However, TMC.US faces significant environmental opposition, with over 20 international environmental groups actively opposing deep-sea mining.
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Its application for a commercial recovery permit is contentious, with the U.N.-affiliated ISA and China criticizing it as potentially violating international law.
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The company has an estimated $5-10 million in legal defense costs related to environmental opposition and legal challenges.
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The company has not provided specific data on its operational environmental performance metrics, such as emissions, renewable energy use, or waste diversion rates.
Respect for Cultures & Communities
0
The company's primary operations involve polymetallic nodule collection in the deep sea Clarion-Clipperton Zone, where explicitly states there is an "absence of local communities at the collection site."
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This renders several KPIs related to direct community engagement, cultural impact, and local employment/procurement not applicable to the core business model. For these KPIs, a score of 0 is assigned based on the rubric's 'not applicable' tier. While mentions a commitment to stakeholder engagement and grievance mechanisms, it does not provide quantitative data on their implementation, coverage, or effectiveness, nor does it detail specific cultural impact assessment protocols or local employment/procurement figures.
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Articles and are general diversity and inclusion statements and do not provide quantitative performance data.
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Safe & Smart Tech
0
The company has reported no material cybersecurity incidents in the last three fiscal years.
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No specific incidents of unauthorized data use have been reported.
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Users have standard controls over their personal data, including the ability to unsubscribe from marketing communications and to access, update, correct, and review their personal information.
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The company mentions using multi-factor authentication and performing vulnerability assessments.
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It also states that service providers are only provided with the information they need to perform their designated functions, and it aims to comply with regulations such as GDPR, UK Data Protection Act, Brazil’s General Law for the Protection of Personal Data, and Canadian law.
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Zero Waste & Sustainable Products
-50
TMC states that nodules do not contain toxic levels of heavy elements, and waste is managed through incineration or third-party disposal, indicating compliant hazardous waste management with minimal reduction efforts.
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The company has no waste disposal violations in the past three years. TMC has a waste reduction target to remove all unnecessary plastic in production and distribution, and plans for near-zero solid waste, but these are goals without specific quantitative targets or timelines for all waste streams.
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