“I want to help guide the economic development based on the people of the Arctic and ensure peace and prosperity,” explains American investor Scott Minerd as he launched the brand new Reykjavik-based think tank The Minerd Institution for Arctic Peace and Prosperity.
Scott Minerd is an American investor and the Global Chief Investment Officer at Guggenheim Partners. Together with Ólafur Ragnar Grímsson, Chairman of the Arctic Circle and former President of Iceland, he launched the brand new Reykjavik-based think tank called the Minerd Institution for Arctic Peace and Prosperity at the Arctic Circle Assembly on Friday.
Or as the newly appointed institution special adviser and Chair of The Polar Institute, Mike Sfraga calls it; a do tank.
It all started with a tour of Alaska.
A learning tour
“Alice Rogoff (owner of the Anchorage Daily News. Red.note) invited me to Alaska and a tour of the North Slope to meet the people and see the living conditions. I learned from the Alaskans that their way of life is threatened by climate change,” says Minerd.
And even though melting sea ice opens up possibilities for investors, the Minerd realized that the people of the Arctic need to have the resources to build their own future. Not just be spectators to others benefiting from it.
We cannot impose our business and culture and ideas on them
“I also realized that the way of the Arctic belongs to the people. We cannot impose our business and culture and ideas on them,” states Minerd.
The North Path
So the idea of an Arctic think tank came to life. An institution based in Reykjavik away from governmental influence and run by people of the Arctic.
The institution will be placed in a new building of grand description – an international Arctic hub – “A global gateway” called Nordurslod. The North Path.
Scott Minerd mainly works with economic development. But he realized that it takes more than that to create true prosperity. It takes peace.
“With the melting sea ice and the rapid climate change, the Arctic Ocean will become blue waters that will be used by the nations of the world. I want to help guide the economic development based on the ways of the people of the Arctic and ensure peace to make sure there is prosperity,” explains Minerd.
Ólafur Ragnar Grímsson, whose center – the Ólafur Ragnar Grímsson Institute of the Arctic will also be located at the hub – predict that the future work done at the Minerd Institution will be guided and adopted by both official and private players.
In need of help
Scott Minerd now invites anyone who feels the calling to be a part of the institution's work to step forward.
“I will be happy to speak with them. I need help.”
Grimsson also announced that the new building will be the Arctic Circle’s future home as well.