We will bring together academic experts on the economics of living marine resources in the Arctic Ocean with resource managers and policy makers to advance understanding of management of these valuable resources and develop flexible, ecosystem-integrated management solutions. The overall purpose of the project is to identify and provide guidance in solving the main governance challenges of the marine living resources in the Arctic Ocean with reduced ice presence. A variety of scales for marine resource u se will be considered as directly pertinent to the Nordic states, from local indigenous populations to a global level that considers demand for the resources present in the Arctic.
Economics shows insights on managed and wild resources. To date, little o f the research focuses on Arctic resources. The ecosystem changes underway in the Arctic region are expected to have significant impacts in the short and long run, and current actions and policies adopted by the Nordic states over such resource governance will have serious and irreversible consequences. In particular, the breadth and scope of integration of science and political economy into the strategies for economic resource use will determine their outcomes. Coordinated resource policy across space an d time is essential to maximizing the full economic value of the living resources of the Arctic Ocean as the base productivity undergoes ecological changes. We will work with a broader group than traditional resource economists, in particular including re source managers, which we find required and necessary.
We will arrange and execute at least one regional scale meeting on the economics of biological resources in the Arctic Ocean each year over the next three years. From each meeting we will publish art icles in a range of outlets/formats. The first year we address invasive species. The second will focus on spatial issues of management. The third will focus on governance of marine mixed public goods in the Arctic.