The AEC’s work is driven by Working Groups who are action-oriented and focus on solutions that drive Arctic business forward in a responsible and sustainable manner. The scope of work for the Working Groups as well as principles for establishing a Working Group were decided by the Arctic Economic Council representatives at the first meeting in Iqaluit, Canada, September 2014. There are currently five ongoing Working Groups:
In 2015, the World Economic Forum’s (WEF) Global Agenda Council on the Arctic published an Arctic Investment Protocol (http://www3.weforum.org/docs/WEF_Arctic_Investment_Protocol.pdf) (AIP) with an intention to start a discussion and build a coalition around responsible investments in the Arctic. While the World Economic Forum’s Global Agenda Council on the Arctic ceased to exist in 2016, the World Economic Forum wanted to see the work on the AIP taken forward. The AEC decided to endorse the intent of the AIP at its Annual Meeting in 2017, and the AIP was transferred to the AEC in 2018.