Harnessing economic tools for Indigenous climate resilience: Insights from Arctic marine resources

Economic tools remain under-used in addressing multiple challenges faced by indigenous communities in the rapidly changing Arctic. While there are multiple explanations for this under-use, perceptions that economic principles diverge from indigenous value systems and are rooted in Western paradigms limit the uptake of these tools to bolster resilience in the face of climate change. Nevertheless, Indigenous communities are expected to integrate their traditional systems with the historically imposed colonial systems of resource extraction to sustain their economies and community wellbeing that are challenged by environmental shifts and socioecological transitions. These changes manifest in resource use, availability and management and affect the ways Indigenous knowledge has traditionally guided resource exploitation decisions and practices. Using select examples, this paper argues that economic approaches to the management of marine resources have the potential to improve the well-being and resilience of indigenous Arctic communities. While more work is needed to tailor economic tools to the specific needs of indigenous people, the integration of resource economics and traditional approaches to resource management holds promise for strengthening Indigenous resilience in the face of the profound challenges posed by climate change.