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Greenland’s Natural Resource Extraction Boom Sparks Calls for Sustainable Investment Framework

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As Greenland prepares to cash in on its vast natural resources, a dedicated focus is needed on foreign workforces and better synergies between investment laws and environmental stewardship.

Stakeholder Consultation Highlights Need for Robust Framework

A preliminary stakeholder consultation held in Nuuk last month highlighted the need for a robust framework to guide sustainable investment in the Arctic nation’s extractive industries. The project aims to develop an integrated policy and program framework that balances economic growth with social progress and environmental protection.

Key Areas of Concern

Transparency and Accountability

  • Royalties, duties, taxes, and tenure issues related to land and natural resource extraction
  • Impact on local communities and the environment

Business and Supplier Linkage Programs Encouraged

The consultation also emphasized the need for concerted business and supplier linkage programs to encourage industrial diversification, skills building, and sustainable growth. This includes:

  • Incentives for foreign investors to improve corporate governance and environmental performance
  • Measures to ensure the integration and repatriation of migrant workers

Project Leaders’ Expertise

The project leaders, Oshani Perera from the International Institute for Sustainable Development (IISD) and Christina Colclough from CJ Colclough, are working with stakeholders to develop a comprehensive proposal for further intervention. The goal is to create a framework that balances foreign investment interests with national sovereignty and wider geopolitical dynamics.

Project Team

  • Oshani Perera, Program Leader, Public Procurement and Infrastructure Program, International Institute for Sustainable Development
  • Christina J. Colclough, CEO, CJ Colclough

Next Steps

The consultation was a critical step towards developing a framework that will guide Greenland’s natural resource extraction boom and ensure that the benefits are shared equitably among all stakeholders. The next steps will involve refining the proposal and presenting it to key stakeholders, including:

  • Government officials
  • Industry leaders
  • Local communities

Contact Information

Oshani Perera: operera@iisd.org Christina J. Colclough: info@cjcolclough.com