Photo: YIT

New AEC Working Group on Investments and Infrastructure Established

The Arctic Economic Council (AEC) has decided to establish a Working Group on Investments and Infrastructure (IIWG).  This Working Group will be led by Mr. Tero Kiviniemi, President and CEO of Destia Group Plc from Finland. At the AEC Governance Committee meeting in Helsinki earlier this spring, Mr. Kiviniemi presented the Investments and Infrastructure Working Group’s work plan. The goal of the Working Group is to continue the work on the principles of responsible business investments, which includes continuing work on the Arctic Investment Protocol (AIP), originally a World Economic Forum product. Furthermore, IIWG’s goal is to build a coalition of support for these principles by familiarizing the work product with relevant stakeholders globally, and gaining support for the principles. The IIWG’s first work product is expected to be launched by the 2019 AEC Annual Meeting. The IIWG’s first meeting will be held in May 2018.

“I am honored to take over the role of the Chair of the AEC Investments and Infrastructure Working Group, and look forward to continue the work on the guidelines for responsible investments in the Arctic. These guidelines can help make the Arctic investable, thus benefitting the socio-economic development of the region. Coming from the Northern parts of Finland myself, I see it of great value that these principles are prepared by the people of the Arctic in the driving seat”, states Mr. Kiviniemi.