In 2018, the Arctic Economic Council (AEC) decided to establish a Working Group on Investments and Infrastructure (IIWG). This Working Group is led by Mr. Tero Kiviniemi, President and CEO of Destia Group Plc from Finland.
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 work will be highlighted at a high-level side event during the 2019 Arctic Frontiers conference in Tromsø, Norway.
“I am honored to serve as 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.
The IIWG Mandate is available on the AEC website.