e360 digest


12 Apr 2012: Drilling of Arctic Could Pose
Ecological Risks, Lloyd’s Report Warns

A new report by Lloyd’s of London, the world’s largest specialist insurance market, warns that rapid development of Arctic oil resources threatens to cause huge ecological damage without strict oversight and appropriate risk management. The report, Arctic Opening: Opportunity and Risk in the High North, projects that as much as $100 billion ((£63 billion) will be invested in the Arctic region over the next decade as the melting of sea ice opens up vast areas to oil and gas exploration and creates new shipping routes. And while this phenomenon will create significant business opportunities, the report says it is “highly likely” that it will also further disturb ecosystems already stressed by climate change and create risks associated with oil spills, particularly in ice-covered areas. “The resilience of the Arctic’s ecosystems in terms of withstanding risk events is weak, and political sensitivity to a disaster is high,” a summary of the report on the Lloyd’s Web site says. “As a result, companies operating in the Arctic face significant reputational risk.”


Yale
Yale Environment 360 is
a publication of the
Yale School of Forestry
& Environmental Studies
.

SEARCH e360



Donate to Yale Environment 360
Yale Environment 360 Newsletter


CONNECT


ABOUT

About e360
Contact
Submission Guidelines
Reprints

E360 en Español

Universia partnership
Yale Environment 360 articles are now available in Spanish and Portuguese on Universia, the online educational network.
Visit the site.


DEPARTMENTS

Opinion
Reports
Analysis
Interviews
Forums
e360 Digest
Podcasts
Video Reports

TOPICS

Biodiversity
Business & Innovation
Climate
Energy
Forests
Oceans
Policy & Politics
Pollution & Health
Science & Technology
Sustainability
Urbanization
Water

REGIONS

Antarctica and the Arctic
Africa
Asia
Australia
Central & South America
Europe
Middle East
North America

e360 VIDEO

“video
A look at how acidifying oceans could threaten the Dungeness crab, one of the most valuable fisheries on the U.S. West Coast.
Watch the video.

e360 MOBILE

Mobile
The latest
from Yale
Environment 360
is now available for mobile devices at e360.yale.edu/mobile.

e360 PHOTO ESSAY

“Alaska
An aerial view of why Europe’s per capita carbon emissions are less than 50 percent of those in the U.S.
View the photos.

e360 VIDEO

“Ashaninka
An indigenous tribe’s deadly fight to save its ancestral land in the Amazon rainforest from logging.
Learn more.

e360 VIDEO

Food waste
An e360 video series looks at the staggering amount of food wasted in the U.S. – a problem with major human and environmental costs.
Watch the video.

e360 VIDEO

Choco rainforest Cacao
Residents of the Chocó Rainforest in Ecuador are choosing to plant cacao over logging in an effort to slow deforestation.
Watch the video.

e360 VIDEO

“video
Tribal people and ranchers join together to stop a project that would haul coal across their Montana land.
Watch the video.

OF INTEREST



Yale