Arctic Council Faces Challenges as Race for Resources and Influence Heats Up

The Arctic Council, an international organisation made up of eight countries on the Arctic rim (Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden and the United States), was formed in 1996 to address environmental concerns in the Arctic region. However, more recently the council has faced challenges as member countries compete for control over the area’s vast deposits of minerals, metals, and fossil fuels.

In March 2022, several council members began to boycott meetings in protest of Russia’s involvement in the group following its invasion of Ukraine. In June 2022, these seven countries agreed to “implement a limited resumption of our work in the Arctic Council on projects that do not involve the participation of the Russian Federation.” This has put the council’s future in question.

The Arctic region is estimated to contain 22% of the world’s undiscovered oil and natural gas, and is also rich in rare earth minerals like neodymium and terbium, whose value across the Arctic is estimated to be at least one trillion dollars. The council member countries are all racing to establish control over these resources, which were previously locked beneath the melting ice.

Potential environmental impact:

The focus on exploiting resources in the Arctic region could have significant environmental effects, including further melting of the polar ice cap, disruption of the Arctic ecosystem, and pollution from mining and drilling operations. Additionally, the competition for resources could lead to increased tensions and potentially even military conflicts among the member countries.

It is important to note that the regulation of the Arctic’s resources is governed by the United Nations Convention on the Law of the Sea (UNCLOS), which is ratified by 168 parties. According to the UNCLOS, the deep seabed is the “common heritage” of humanity and its exploration and exploitation “shall be carried out for the benefits of mankind as a whole, irrespective of the geographical location of States.” It is crucial that member countries of the Arctic Council abide by the UNCLOS and work towards finding peaceful and sustainable solutions for the exploration and exploitation of the Arctic’s resources.