Arctic Resources on Our Own Terms

December 03, 2024, 13:30 / 14:45

The Arctic is a geopolitical hotspot. A region of natural resources and energy in a world of increasing demands. The EU is no exception for the interest in the Arctic assets, with its critical raw material act, net zero industry act and the clean industrial deal. This, in turn, increases tensions in the region. The question is how will checks and balances be upheld? How to assure both the local and global needs? The Arctic is also a place where people live. The Arctic paradox is the lack of critical mass in the local communities to release full growth potentials, at the same time as the return of industrial investments in raw material facilities goes elsewhere. This session explored those imbalances and how the exploitation and investments to the gain of the EU and others can go hand in hand with local needs of investments and development opportunities, while respecting the local communities’ interests and Indigenous Peoples rights, addressing the different land-use interests and need of long-term sustainable local development.