The World Has Discovered a $1 Trillion Ocean (ARCTIC OPENING)

"The history of economic development in regions of the world has really been fraught with a mass of mistakes," said Minerd, who before Guggenheim worked at Credit Suisse and Morgan Stanley. "It really seems that someone needed to start developing a minimum standard, as a guide for economic development in the region."

The Arctic Investment Protocol, developed by a 22-member WEF "global agenda council," puts forward sustainability principles similar to initiatives developed for mature economies in recent years. The focus is long-term: tap the expertise of indigenous communities and treat them as commercial partners, protect ecosystems (even as rising temperatures change them before our eyes), and prevent corruption while encouraging international collaboration. The Arctic nations include Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden and the U.S.,  so there is a lot of collaboration to be had. 

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The Arctic guidelines are voluntary, like many other sustainable investment initiatives, including the Principles for Responsible Investment or even the WEF's own work on "sustainable competitiveness."