written by Eleonora Milazzo – ACCEL European Fellow
We have already mentioned in the course of the Arctic 101 journey across the Arctic that this unique and complex ecosystem is also extremely rich in natural resources with relevant economic potential. It’s now time to take a closer look at these resources, to help us learn what is going on in the circumpolar regions and what to expect for the future. Fishing, mining, shipping, and hydrocarbons are the main sources of wealth for the Arctic. They also attract a growing amount of investments from all over the world. The following sections will provide a detailed overview of economic activities sector by sector. But whose resources are these? How are they managed? What are the risks connected to the development of an Arctic economy?