Why this professor needed an Arctic cruise

02-09-10

Voyaging on a polar-class icebreaker is not part of the typical job description for a business professor.  But this summer, I spent 7 unusual days aboard the CCGS Louis S. St.-Laurent travelling through the legendary Northwest Passage in the Canadian Arctic Archipelago (76°29′N 78°30′W76.483°N 78.5°W.). 

This wasn’t a holiday or simply an adventure to write home about – my Arctic cruise was integral to my work at RSM. 

The bottom-line consequences of climate change are significant for companies, and to some degree this is recognized by our community.  Most Fortune 500 companies are working to reduce their carbon footprint and MBA courses typically include something on sustainable innovation or green investment. 

Despite all this, the Arctic continues to melt.  And that’s why I joined the crew when I received the invitation from Dr. Eddy Carmack, who was in charge of the trip.  Two CEOs were also onboard, along with scientists and government officials. 

There was no doubt that the earth’s climate clock is ticking fast in the land of the midnight sun.  During the summer, there is now a huge open expanse of water and the multi-year ice is significantly diminished.  According to Eddy Carmack, “In 2006, there was a big hole in the ice the size of Lake Ontario north of Alaska.  The next year that hole wasn’t there -- because there wasn’t any ice left for the hole to be in!”  2007 was the year that woke everybody up. 

From our first hand location on board The Louis, we were able to see the loss of multi-year ice and discuss this with the experts. 

Initial economic estimates of the costs of a melting Arctic range from $7.349 - $24.11 trillion (USD) from 2010 to 2050.  Even at  the bottom end, that’s equivalent to the combined GDP of the UK, Germany and Russia.  Losing the Arctic sea ice is a big ticket item. It’s also bad news for the polar bear. 

On board The Louis, it was clear that scientists have reams of data at their finger tips, all of it alarming.  If business schools  want to get to get serious about educating students on climate change, more of us need to cruise the Arctic.