What happens in the Arctic does not stay in the Arctic and what happens outside of the Arctic affects the Arctic! That was one of the key messages shared during the opening session of the Arctic Circle Assembly 2025, held in Reykjavik on 16-18 October.
The event is the largest international gathering on Arctic affairs, and this year it brought together 2.000 participants from 70 countries, representing governments, corporations, universities, think tanks, environmental associations and indigenous communities.
War in Ukraine affecting Nordic businesses
The interconnectivity between the Arctic and Nordic regions and the rest of the world was also highlighted in a panel discussion co-organized by Nordic Innovation and Fronttier. The session explored how Nordic and Arctic businesses are being affected by global challenges such as the war in Ukraine.
Jeanette Vitasp from Nordic Investment Bank, Mads Quist Frederiksen from Arctic Economic Council, Virginia Vegas from Frontier and Emil Gejrot from Nordic Innovation discussed how the war has affected their stakeholders and businesses.
The discussion revealed many paradoxes when navigating an uncertain world, demonstrating that changes in investment and business strategies, as well as in narratives, are inevitable. Emil Gejrot from Nordic Innovation said:
“We have seen a shift in the narratives. Before we talked more about the green transition. Now we talk a lot about resilience as well.”
Jeanette Vitasp from Nordic Investment Bank explained how their organization has changed strategy because of the war in Ukraine:
“We are operating a bit different now. We have allowed investment into defense. But we still keep a focus on the green transition.”
The panel agreed that the situation has also been an eye opener for the Nordic and Arctic regions:
“Thanks to Trump and Putin, we have finally realized the challenges we are facing in terms of competitiveness and lack of action,” said Mads Quist Frederiksen from Arctic Economic Council.
Showcasing Nordic solutions
For the second time, Nordic Council of Ministers organized a common Nordic booth showcasing what Nordic Co-operation offers. Six Nordic institutions were represented, and they all got the opportunity to present themselves and meet with stakeholders and potential partners at the booth.
Besides from Nordic Innovation, the institutions Nordforsk, Nordic Energy Research, Info Norden, Nordic Atlantic Cooperation (NORA) and Nordens Hus i Grønland (NAPA) were represented.
Finalizing Democracy Tour 2025
In 2024, the Nordic Council of Ministers decided that Arctic Circle Assembly will be the platform used by the Nordic institutions for democratic dialogue in Iceland, just as the Democracy Festivals in the other Nordic countries: Folkemødet in Denmark, Almedalsveckan in Sweden, Suomi Areena in Finland and Arendalsuka in Norway.
Arctic Circle Assembly was therefore the final stop on Nordic Innovation's Democracy Tour 2025!
Thanks to the team behind Arctic Circle Assembly for providing a strong platform for dialogue and democratic debate.
