On behalf of Oceans North and DSCC.
Thank you Mr Facilitator and Fakamālō Atu Tonga on their constitution day over the weekend.
The suggestion in paragraph 1 of contractors paying in advance for proposed damage to ecosystem services and natural capital contradicts Article 145 of the Convention by implicitly acknowledging and accepting damage to the environment as necessary and acceptable.
Not only can natural capital not be valued, but the anticipated damage to the environment is a reason for not doing the mining in the first place, rather than to stimulate an advance payment to facilitate the damage. Such damage is exactly why a moratorium is needed, now.