The outrageous scheme to capture and sell Greenland’s meltwater

By Andrew Blackman - September 23, 2024
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The Ilulissat Icefjord, also known as Sermeq Kujalleq, is draining approximately 7% of Greenland’s ice sheet. This glacier, the largest outside of Antarctica, is calving enough ice daily to meet New York City’s water needs for an entire year. (Photo by Ulrik Pedersen/NurPhoto via Reuters)

Greenland holds about 6.5% of the world’s fresh water, and climate change is causing more of its ice sheet to melt into the ocean every year, Wired reports. A startup, Arctic Water Bank, plans to harvest this glacier meltwater and transport it abroad, seeing a business opportunity in the global water scarcity crisis.

  • In an ambitious project, Arctic Water Bank aims to build a dam in South Greenland to capture meltwater and transport it globally via bulk water carriers. The company promises to be carbon-neutral and minimize local environmental damage as it tries to capitalize on Greenland’s pristine water resources.
  • The Greenlandic government supports the project, granting the company exclusive rights to a water source for 20 years, with the potential to boost local jobs and national revenue. However, Arctic Water Bank must first build a dam and complete an Environmental Impact Assessment.
  • Previous attempts to transport Arctic water to drier regions have failed due to logistical and financial challenges. Experts remain skeptical about Arctic Water Bank’s long-term viability. claiming that it may struggle to compete with tap water prices — despite good marketing.