Analysis & Opinions - ArcticToday

Why a Warming Arctic Needs an Investment Review Mechanism

July 30, 2020

Note

This piece is one of a series of op-eds written by the student-scholars of the Arctic Innovators Program at the Harvard Kennedy School’s Arctic Initiative.

Increased investment into the Arctic over the coming decades is inevitable. To respond to this, the Arctic's present international governance structures can be improved to help steer the region through these impending changes.

The Arctic could benefit substantially from an Investment Review Advisory Board which sits within the Arctic Economic Council and consists of advisors from each of the eight Arctic Council states.

An IRAB would apply the Arctic Investment Protocol's guidelines to help guide and advise Arctic states on the multi-faceted, long-term impact of large-scale investments proposed for the region.

The board's role could go a long way to ensure the Arctic continues to be sustainably and holistically developed in a way that does not threaten the Arctic's sensitive biodiversity or harm its communities....

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For more information on this publication: Belfer Communications Office
For Academic Citation: “Why a Warming Arctic Needs an Investment Review Mechanism.” ArcticToday, July 30, 2020.
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