The coronavirus pandemic has given us many reasons to rethink our business as usual. We have all lived through the personal impact on our communities and are starting to look to, and redefine, the future. However the economic consequences of COVID-19 are of such a magnitude that they are yet to be fully understood.
We, at EY, are committed to building a better working world. Despite the fragmentation and isolation that we have all experienced during this global pandemic, we believe that the better world is one that is interconnected and collaborative. We have also seen how fragile the world is and understand that we need to put sustainability at the heart of our planning in order to reframe our future.
The Arctic is one of the greatest economic opportunities of the 21st century. This territory, rich with natural resources, is becoming more accessible due to climate change. At the same time, the Arctic is very fragile both as an ecosystem and as a geopolitical phenomenon. The region needs both strategic sustainability thinking and international cooperation to succeed.
We appreciate the bold intellectual efforts that have been undertaken by our long- term strategic partner, Moscow School of Management SKOLKOVO in cooperation with Nord University Business School, to explore the multiple futures of the Arctic as a function of breakthrough innovations and enabling international policies. The future remains uncertain. The good news, however, is that we can build it working together. Research, like the piece you are about to read, helps to map routes to a better working world.
I join the authors of this report in hoping that it will help business and policymakers define strategies for the Arctic that help solve for today’s challenges in reframing our future to protect and create long-term sustainable value for all stakeholders.
Jay NIBBE Global Vice Chair - Markets EY