Nordic financial institutions and investors have urged the European Union to maintain its opposition to new Arctic gas and oil drilling, as the trading bloc considers alternative energy options due to the ongoing closure of the Strait of Hormuz and wider impact of the war on Iran.
A spokesperson said the EU is reviewing its Arctic policy “in light of the new geopolitical and geoeconomic context”, but no conclusions had been reached yet.
“The Arctic is one of the planet’s most vulnerable ecosystems and home to unique wildlife,” the financial institution Nordea Asset Management said on Wednesday.
“Further oil and gas expansion would add pressure to these globally significant ecosystems, by increasing the risk of oil spills and leakages,” it said.
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