chapter  11
What’s the price of a polar bear? Compensating environmental damages in the Arctic
Pages 24

The Arctic Ocean is full of economic potential. Estimates suggest that 10 per cent of the world’s undiscovered oil, and up to 30 per cent of the gas reserves, are to be found in the Arctic.1 Protecting the vulnerable Arctic environment is therefore on the top of the agenda in the Arctic Council.2

However, pollution incidents3 in the Arctic is bound to happen as we expand oil operations further north and increase the number of ships passing through.4 If a small jurisdictional and institutional unit like Greenland should effectively be able to protect its wildlife from these odds, it seems pivotal to ensure that its recovery and compensation systems are in full function. This chapter sets out to discuss how to compensate the loss of wild nature in the event of a major accident.