Risks of Arctic development unknown

2012-04-12 20:04

London - A British report is warning that new opportunities for economic development in the Arctic are fraught with high risks of environmental disaster.

The report was released on Thursday by the Lloyd's of London insurance market and the Royal United Services Institute, a respected think tank. They say the region could attract $100bn in investment in the next decade.

The report says the ability to manage any disaster in the region, such as an oil spill, raises issues, including access and how well the various governments on the Arctic rim can work together.

Lloyd's chief executive, Richard Lloyd, says effective management of risks will require much more research about the region.

Read more on:    environment

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2015-04-22 07:36

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