IUMI supports effort to establish best practice Arctic exploration

The declaration has been drawn up by a group of marine and energy experts in the Arctic region to create a voluntary set of standards to protect the area’s fragile environment. It is a proactive response to concerns that there is, as yet, no consensus amongst nations that have territory within the region on a single legislative standard to govern companies’ behaviour. It will not be a binding legal document, but may be incorporated into private contractual relations between parties.hide“The objective (of the declaration) is to promote good examples in Arctic operations, and to prevent the risk of emergencies from ad-hoc operations set up without careful planning, which use potential loopholes in the existing regulatory process,” said IUMI in a press release. IUMI Secretary General Lars Lange gave the union’s support to the declaration after it was sent out for consultation. “IUMI fully endorses the idea behind the declaration, with the objective to promote best practice on a reasonable basis and prevent the risk of emergencies,” he said. “While not a natural signatory to the declaration, IUMI supports in principle the concept of this voluntary, non-binding document.” He added: “IUMI fully support a mandatory Polar Code through the IMO; meanwhile we welcome this voluntary initiative for the industry to take a proactive approach when operating in the Arctic.” IUMI has also expressed its willingness to participate in future Arctic Council deliberations should the opportunity arise. The Arctic region is unique with its extreme climate and sensitive nature. As well as being wealthy in natural resources—energy and mineral deposits—it is a place of outstanding natural beauty, rich in animal life, flora, fauna and unique indigenous activity. The draft declaration recognises that as a result of advances in technology, new opportunities have arisen for the development of resources in the region, as well as for transport and logistics, which have the possibility of benefiting the Arctic region as well as society outside of the Arctic. But these opportunities must remain over the long-term and be carried out in a sustainable manner, in order to prevent harmful or negative social or ecological consequences for the indigenous people and the environment of the Arctic region as a whole, it says. “It is clear that long-term investment requires a stable legal and regulatory framework. Investment is best protected by operating with best environmental practice and employing best available technology. As well as providing increased security for such investment, responsible practice will help influence appropriate laws, regulations and guidelines to protect the sensitive environment and its inhabitants. This will assist the development of clear and transparent rules and regulations for the Arctic that can be adopted for local conditions in the different Arctic countries,” it reads. In using best practice industry can ‘foster a culture of responsible development’, and by signing up to this voluntary declaration ‘can illustrate commitment to the protection of the environment and reducing the impact of any marine activity’, both in normal marine operations and in the exploration or extraction of natural resources, it added. According to the draft declaration, signatories operating in the Arctic should: - Follow the draft IMO Polar Code - Operate according to best environmental practice, and with best available technology—(applicable definitions of terms can be found in Annex B of the Arctic Council’s ‘Arctic Offshore Oil and Gas Guidelines’ (2009) - Follow ISO 19906 Arctic Offshore Structures as applicable - Make a detailed and quantifiable analysis in order to determine what ice conditions that might occur in the intended area of operations - Not operate in an area with potential ice conditions before in-depth, verifiable analysis is made in relation to the sustainability of the vessels intended to perform duties in the ice conditions that could occur in the area of operation - Illustrate the operational margin for ice management operations with respect to ice conditions (4) and vessel performance (5) - Implement a systematic approach to ice know-how and ensure that each operation is performed in such a way that operational judgment decisions can be made in time, on an informed basis, and based on relevant experience - Share knowledge gained in operations in order to increase the common competence and capacity building of the safety and environmental aspects of Arctic operations - Positively encourage operators and contractors in Arctic waters to make space available on board for training during Arctic operations - Ensure that all operators and contractors employed have internal systems in force that comply with the ISM code - Encourage each operator and contractor to ensure that the appropriate crew competences are in place supported by suitable operating manuals, shore-side support, auditing, spare parts for equipment, and reserve equipment suitable for the operating environment - Share environmental data collected during operations in order to support environmental research under the framework of the Arctic Council - Support the creation of branch specific business councils (committees), which will contribute to practical input regarding best practice in relation to the construction and operation of vessels for Arctic Waters - Be ready to make Arctic resources available in support of efforts to prevent, combat or mitigate a major accident that could pose a hazard to lives or the environment - Not use suppliers of services, or buy data from service providers from companies not following the ‘rules’ laid down by this declaration

IUMI supports effort to establish best practice Arctic exploration

Want to read this article?

Read Next

AXA P&C increases premiums by 7% as rates rise at AXA XL

Hong Kong and Shanghai to cooperate on captives and ILS

Swiss broker Kessler names head of special risks

Supply chain cyber risk concentrated in 15 top vendors with ‘below average’ cybersecurity

US insurers expected to increase casualty pricing as social inflation rises

AXA P&C increases premiums by 7% as rates rise at AXA XL

Hong Kong and Shanghai to cooperate on captives and ILS

Swiss broker Kessler names head of special risks

Supply chain cyber risk concentrated in 15 top vendors with ‘below average’ cybersecurity

US insurers expected to increase casualty pricing as social inflation rises

Want to read this article?

Read Next

AXA P&C increases premiums by 7% as rates rise at AXA XL

Hong Kong and Shanghai to cooperate on captives and ILS

Swiss broker Kessler names head of special risks

Supply chain cyber risk concentrated in 15 top vendors with ‘below average’ cybersecurity

US insurers expected to increase casualty pricing as social inflation rises

Related Articles