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The Arctic – Emerging opportunities beneath the ice

With global warming gradually melting away polar ice caps, new opportunities are slowly, but surprisingly, emerging for trade, tourism and natural resource extraction in the Arctic Circle. But is developing such opportunities at odds with environmental sustainability? Arctic sea ice sank to yet another record annual low in September 2012, at 44% below the 1981-2010 average. The Arctic Ocean is projected to be almost ice-free by the end of this century; with the ice melting at an accelerating rate, quicker than predicted by any climate model. A decade ago, Al Gore’s “An Inconvenient Truth” drew world attention to the moral consequences of global warming. These included the destruction of farming, the flooding of coastal land displacing millions of people and the spread of tropical diseases to new parts of the global population. Though the consequences of global warming on the Arctic are inherently detrimental, the shrinking icecaps herald new opportunities for trade, tour