Temperatures in the Arctic are rising twice as fast at the world average. This thaw has brought new industries to the icy region: a first cruise ship will tour the Northwest Passage north of Canada in 2016, Iceland is experiencing a booming mackerel fishery as the stocks shift north and Greenland is growing tomatoes.
Additionally, a 2013 study in the journal Nature warns a major release of methane trapped in ice off Russia could accelerate global warming and cause $60 trillion in damage — almost the size of the world GDP — in the form of heatwaves, floods, droughts and rising sea levels.
Climate-related weather disasters offer significant opportunities for companies positioned to help clients prepare for the consequences of climate change, according to a report by Environmental Business International, published earlier this month.
Photo Credit: Antarctic Peninsula via Shutterstock