The Arctic region will require novel, cooperative solutions to overcome these challenges to sustainable economic development. The time to act is now: The resources locked in the Arctic could shift the balance of energy supply and demand in the world in important ways.
Reprint No. 00205
- Per-Ola Karlsson is a senior partner with Booz & Company’s organization, change, and leadership practice, and is based in Stockholm.
- Laurence C. Smith is the chair of geography and professor of earth and space sciences at the University of California at Los Angeles, and author of The World in 2050: Four Forces Shaping Civilization’s Northern Future (2nd ed., Plume, 2011).
- This article is adapted from “Demystifying the Arctic by Stating the Truths,” a report by the World Economic Forum’s Global Agenda Council on the Arctic, of which the authors are members (and Karlsson is chair).