29 February 2012: The International Union for Conservation of Nature (IUCN) has announced the release of a report, titled “The future of Arctic enterprise: Long-term outlook and implications,” which looks at the development of existing and new economic activity in the Arctic marine region.

The report, authored by the Smith School of Enterprise and the Environment, University of Oxford, as part of a joint research project with IUCN and the Royal Dutch Shell, indicates that over the next 20 years, shipping, oil and gas, mining, tourism and aquaculture will be the key sectors of economic activity in the region. It addresses the diverse elements shaping the future development of each economic sector, including navigation, in the Arctic.

The report argues that despite the uncertainties relating to existing and future economic development in the Arctic, concerns about the long term and sustainable development of the Arctic marine region are due to increase. It highlights “hotspots” emerging from the possible synergies among different sectors, and the interplay of economic activity with political and social developments in the framework of climate change and cumulative environmental impacts.

The report recommends the development of a more systemic understanding of changes, synergies and challenges, as well as inter-organizational scenario-based initiatives, such as those developed in a process that involves a range of different sectors and stakeholders. [IUCN Press Release] [Publication: The Future of Arctic Enterprise: Long-term Outlook and Implications]