In 2015, the World Economic Forum’s (WEF) Global Agenda Council on the Arctic published an Arctic Investment Protocol (http://bit.ly/ArcticIP) (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.
The AEC’s Working Group on Investments and Infrastructure (IIWG) has since then worked actively with principles related to responsible investments in the Arctic based on the AIP (IIWG’s mandate is available on the AEC website at https://arcticeconomiccouncil.com/our-work/).
Based on consultations conducted by the group, concrete cases and examples of best practices are deemed very valuable to make the six principles of the AIP more tangible. Developing the AIP to make it more practically applicable was also one of the recommendations in the analysis “Business financing in the Arctic” (2018). Therefore, the IIWG proposes to strengthen the AIP by creating an annex which lists best practices and practical examples on how to implement these six principles.
The AEC Working Group on Investments & Infrastructure invites stakeholders to give input and concrete examples of best practices to achieve sustainable investments in the Arctic and elsewhere. These examples will be incorporated to the AIP annex listing best practices. The examples can be provided by filling in this submission form https://arcticeconomiccouncil.com/submission-form-best-practices-in-line-with-arctic-investment-protocol-guidelines-for-responsible-investment-in-the-arctic/.
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