Gallery: Lloyd’s of London Report Forsees Disaster in Arctic Developmen...

 

Lloyd’s of London market and the Royal Institute of International Affairs have released a new report which predicts huge risks for those looking to invest in the Arctic. The companies believe that if economic development ramps up in the region — with estimated investments reaching $100 million within the next decade — the lack of infrastructure and gaps of knowledge about the most northernmost part of the globe could outweigh the economic benefits of their projects. To that end, Lloyd’s chief executive officer advises companies interested in the region to “step back” and think about the long term consequences of their pipeline projects, which range from oil exploration to fisheries.

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