Window Open for Space Norms Work, Says UN Official

The lack of an international mechanism for monitoring space debris and facilitating its removal is a big challenge, particularly for smaller nations just getting into space or with space aspirations, said U.N. Undersecretary-General-Policy Guy Ryder Tuesday at a Secure World Foundation space sustainability symposium. He said there's also the potential for tension and conflict about the lack of international norms and principles for debris removal and satellite refueling. He said consensus is needed on the use of space resources and on protecting landing sites, to ensure industry can fairly access resources. The next 15 months are a window of opportunity for more aggressive work on space norms and diplomacy, with upcoming meetings by the OECD Space Forum and U.N. Committee on the Peaceful Uses of Outer Space in that time frame, capped by the U.N.'s sustainability focused Summit of the Future in September 2024, Ryder said. Venture capital funding in space has rocketed since 2018, with a peak in 2021, said Maureen Haverty, vice president at Seraphim Space venture capital fund. Driving that interest was the market disruption of new players, including SpaceX, the U.S. government increasingly buying services from commercial providers, and big reductions in the cost of accessing space, she said. Space now is seen as a market that can drive large enough returns to interest the VC community, she said. While 2022 and early 2023 were "very challenging" for space startups in search of funds, European investment has provided some rebound. European investing now eclipses U.S. investing for the first time, she said.