Solving the problem of the Arctic: : Is an Arctic Convention the most viable solution to balance the interests of the energy industry and preserve intergenerational equity

The current legal regime that operates within the Arctic is complex, raising questions as to whether there is a sufficient balance achieved. A balance, that ensures environmental protection and sustainable methods of industrial operations. Moving forward, the importance of preserving the principles of international environmental law cannot be overstated in facilitating sustainable environmental practices. The hard law and soft law policy currently in operation in the Arctic spread over the five Arctic states; there are questions of interpretation – as different standards will apply. To addresses this issue, using inspiration from the Antarctic Convention, this paper suggests that an Arctic convention would create more consistency in the legal regime and promote sustainable industrial practices to the area, i.e. continuing mineral extraction, Petroleum extraction and shipping through the area with the most minimal possible impact on the environment.