• 2021 June 21 16:59

    ICC Greenland joins the Arctic Economic Council

    The Inuit Circumpolar Council (ICC) Greenland is joining the Arctic Economic Council (AEC), an international independent business organisation representing companies and Indigenous organisations from across the Arctic region, AEC says in its press release.

    “We are joining the AEC to ensure the wellbeing of the Arctic Peoples and sustainable economic development in the region. Our code of ethics is in line with the principles of the AEC, and we see the organisation as a guide for sustainable and responsible investments and development in the region”, says Kuupik V Kleist from ICC Greenland.

    The ICC is one of the Permanent Participants of the Arctic Council – and, therefore, also in the Arctic Economic Council since it was established in 2014.

    “I am very happy to have ICC Greenland as a member. This strengthens our representation in Greenland and our work to develop Indigenous businesses across the region. Instead of thinking North-South collaboration, we have to think more across the Arctic. A good example is what ICC Greenland is doing with the International Inuit Business Organisation (IIBA)”, says Mads Qvist Frederiksen, Director of the AEC.

    The IIBA main purpose is to work for, that a more substantial part of the generated economy in the Arctic, gets invested in initiatives aiming at economic growth and better living conditions for the people in the communities.

     “Greenland, like other Arctic communities, is in an urgent need for diversifying its economic activities. We are almost completely dependent on the export of fish, which makes the economy fragile and pushes the limits of resources. Greenland must diversify its economic activities so to ease the pressure on the fish stocks. Harvesting natural resources is a moving target; when nature and the world market economy speaks, one has to obey”, says Kuupik V Kleist.

    The Arctic is known as a region exporting fish, energy and raw materials. Mining represents a big potential for economic growth in Greenland.

    “Considering the fragile Arctic environment, there is scepticism towards mining minerals with radioactive content. While the recently inaugurated Government is strictly against uranium mining, it needs to make it very clear for international investors: the Government is not against mining activities in general”, says Kuupik V Kleist.

    The AEC has working groups on issues like the blue economy, infrastructure and investment as well as responsible resource development, maritime transportation and connectivity. They develop different approaches for companies towards sustainability, envisioning the balance between economic, environmental and societal considerations.

    “The AEC has together with the World Economic Forum developed the Arctic Investment Protocol, which is a set of guidelines for companies operating in the Arctic . Nonetheless, we still have a continuous task to promote the Arctic as a favourable place to do business. Since the recent government election in Greenland, we have seen some investors getting cold feet about recent developments in mining,” says Mads Qvist Frederiksen.

    Over the years, Greenland has been in need of substantial infrastructure investments. There, housing renovation and construction of new residential facilities is equally important as the development of new air- and seaports. The lack of sufficient infrastructure is a common challenge for many Arctic communities.

    “We are hopeful that the AEC will continue to be a constructive partner for the countries and communities involved, and that the Council continues to advocate for much needed economic development in the Arctic in general, and specifically for the Indigenous Peoples who live there”, says Kuupik V Kleist.

    Source: https://arcticeconomiccouncil.com/




2021 July 27

11:10 Yang Ming takes delivery of one more 11,000 TEU ship to upgrade Trans-Pacific service
10:45 The President of the European Council Charles Michel was briefed on the capabilities of the Port of Baku
10:39 Damen Marine Components awarded contract to provide rudders and steering gear for Navantia
10:23 DCT Gdańsk and the Port of Gdańsk enter a new era of container handling on the Baltic Sea
09:59 CMA CGM to launch a new RORO Short Sea Med service connecting Marseille & Barcelona with Casablanca
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2021 July 26

18:04 IPCSA ‘honoured’ to join the World Customs Organization’s Private Sector Consultative Group
17:57 M. Skuodis: expansion of the southern part of the Port of Klaipėda has potential to attract new cargo and investments
17:35 Sri Lanka Ports Authority with ILO support commences training for seafarers
17:14 Vitol Bunkers adds first offshore location to its USGC and Caribbean supply offering
16:20 Operation on delivery of 111-meter long column for Amur GCC is underway
16:03 Mobile harbour crane investment to further improve cargo handling efficiency at Port of Newcastle
15:13 TotalEnergies signs renewable power purchase agreement with Air Liquide
14:59 RF Government suggests establishing free customs area on Kuril Islands
14:34 The COVID 19 has strong impact on the port of Helsinki
13:44 DP World and Rosatom sign agreement for Northern Transit Corridor
13:36 FSUE Atomflot and Murmansk Marine Biological Institute sign cooperation agreement
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12:38 Onezhsky Shipyard lays down fourth serial crab catching ship for Russian Crab Group
12:05 Mitsubishi Shipbuilding launches ceremony for the first of two large multi-role response vessels being built to order for the Department of Transportation in the Republic of the Philippines
11:59 Saint-Petersburg and Kronshtadt hosted Russia's Main Naval Parade on RF Navy Day
11:04 Port of Antwerp implements a Yard Opening Time scheme for all containers
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09:58 Huntington Ingalls Industries authenticates the keel of Legend-class national security cutter Calhoun
09:35 Crude oil prices go down due to coronavirus risks
09:17 Baltic Dry Index as of July 23
09:08 Ascenz, the Singapore-based GTT Smart Shipping Company, launches an innovative solution to improve the bunkering process
08:31 Grimaldi extends to Zeebrugge its freight link between Belgium and Ireland
07:56 Sembcorp Marine delivers three wellhead and riser topsides and bridges to TotalEnergies EP Denmark

2021 July 25

14:58 USCG, partners medevac mariners off Kauai
14:51 WinGD first to deliver space-saving on-engine NOx aftertreatment
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12:37 Panama renews maritime transport agreement with China
11:39 ABP Southampton appoints Head of Property
10:54 Agreement on Elbe River navigability signed

2021 July 24

15:02 Union Pacific reports 2Q 2021 results
13:29 Major £10M project aims to unlock untapped potential of ocean renewable energy fuels
12:37 LR: Turning to technology to tackle container ship fires
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2021 July 23

18:27 EBRD and Ukraine boost low-carbon hydrogen development
18:03 ROSATOM and GDK Baimskaya LLC sign agreement to jointly supply energy to Baimsky plant
17:58 Van Oord signs contract with the Spanish energy company Iberdrola for the Baltic Eagle offshore wind farm
17:50 Chantiers de l’Atlantique completes installation of EGCS on three MSC Cruises vessels
17:41 ROSATOM and Aeon Corporation agree to Arctic shipping cooperation
17:32 RWE, Shell, Gasunie and Equinor sign a declaration of intent on the AquaSector project
17:18 Rosatom and DP World sign Cooperation Agreement
16:55 RosGeo eyes exploration of solid mineral deposits in the Persian Gulf
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16:30 ROSATOM and Moscow State University’s Marine Research Centre sign cooperation agreement on environmental impact assessment in Arctic
16:07 Rosatom expects transit cargo flow along NSR to reach 20-30 million tonnes per year by 2030
15:39 ROSATOM and Nornickel sign supplementary agreement on icebreaker accompaniment
15:01 Sea Port of Saint-Petersburg handled 4.1 million tonnes of cargo in H1’21, up 12% YoY
14:36 Recovery of investments in offshore geological exploration not expected by RosGeo before 2022
14:14 Wärtsilä to provide thrusters for two Chinese wind farm turbine installation vessels
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12:48 Nornickel set to expand and upgrade Dudinka port