ABSTRACT
The private sector has played a limited role in multilateral Arctic governance settings, such as the Arctic Council. The heterogeneity of economies, economic development interests, and challenges and regulatory frameworks in Arctic countries are key factors explaining this relative absence. Other actors, including Indigenous peoples’ organizations, have expressed concern that increasing the number of participants in key forums would complicate their work. Nonetheless, an emerging consensus suggests that the private sector has a place in regional governance. Although the creation of the Arctic Economic Council in 2015 embodies this willingness, the ties between the council and political decision-makers through the Arctic Council have been ambiguous. Private actors also partake in developing private governance by establishing and promoting best practices so that companies operating the region voluntarily adopt them.
