Lawrence Smith

The Arctic: The New Frontier

Jared Carney, Olafur Grimson, Lawrence Smith, Terry Audla, Torben Moger Pedersen

At the 2014 Milken Institute Global Conference, a panel featuring Iceland's President Guðni Th. Jóhannesson, Canadian Inuit leader Terry Audla, and experts from UCLA and Pensions Denmark analyzed the Arctic's transformation into a critical global frontier driven by accelerating climate change and opening shipping routes. The discussion highlighted substantial economic opportunities in resource extraction, hydropower, and tourism, while simultaneously warning of severe risks including undefined environmental protocols, infrastructure deficits, and the necessity of stable long-term regulatory frameworks. Emphasizing the urgent need for international cooperation and Indigenous-led governance, the speakers urged Western nations, particularly the United States, to deepen their strategic engagement to prevent marginalization by rapidly advancing Asian and European interests in the region.