The Arctic sea ice is melting. Perhaps the place where the effects of climate change are most evident, each summer holds less and less ice over the years – although it always returns in winter. Global interest in the Arctic and its future is growing, and numerous often contradictory opinions are being voiced. The complexity of the issues surrounding the region makes it very difficult for stakeholders, including even some experts, to have a clear, holistic picture of the facts. Commercial activity in certain areas of the region is not new (already, around one-fifth of the world’s nickel comes from the Russian Arctic), yet the potential for novel industries to emerge and activity to begin occurring offshore is strong. The Global Agenda Council on the Arctic has set out to demystify the region, state the opportunities and identify the challenges for decision-makers.