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Soft law instruments on Arctic investment and sustainable development

Part of: International Law for Sustainability in Arctic Resource Development

Published online by Cambridge University Press:  11 March 2020

Kong Soon Lim Open the ORCID record for Kong Soon Lim [Opens in a new window]
Kong Soon Lim*
Affiliation:
Associate, Messrs. Izral Partnership, Kuala Lumpur, Malaysia
*
Author for correspondence: Kong Soon Lim, E-mail: kong.lim@outlook.com
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Abstract

In recent years, two soft law instruments have emerged to promote sustainable development in the Arctic, namely the Arctic Investment Protocol by the World Economic Forum Global Agenda Council on the Arctic and the Arctic Economic Council’s Code of Ethics. These instruments seek to foster sustainable development through responsible investment and good business practices. The emergence of these soft law instruments by non-State actors demonstrates an interest from the business sector and Arctic stakeholders to develop business norms and standards of sustainable development that are specific to the region. In understanding the potential and scope of these instruments, this paper considers the role of both instruments in driving sustainable development in the Arctic.

Keywords

Arctic lawArctic Economic CouncilArctic Investment ProtocolSoft lawSustainable development
Type
Commentary
Information
Polar Record , Volume 56 , 2020 , e11
Copyright
© The Author(s), 2020. Published by Cambridge University Press

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