Document summary
This report explores the Arctic's economic future and risks related to climate change and economic development in the region. Rapid and disruptive change in the Arctic environment presents uneven prospects for investment and economic development. The Arctic is likely to attract substantial investment over the coming decade, potentially reaching USD 100 billion or more. Significant knowledge gaps remain across the Arctic, in particular around the nature of environmental change, the geopolitical potential of the Arctic and potential baselines, as well as seabed mapping, and how to deal with risks arising from significant Arctic industrial activity. The Arctic is likely to remain a complex risk environment. Governance frameworks should continue to develop and be reinforced where possible. Risk management is fundamental for companies to work safely, sustainably and successfully in the region.