"The cod there at the moment are still small ... so they haven't really become a commercial opportunity yet," said Anne-Marie Bjerg, Arctic conservation officer for WWF Denmark.
"But they will undoubtedly [grow in size and commercial importance], particularly if the cod stocks are properly managed," she said.
Greenland's melting ice cap has triggered a rush for diamonds, gold, and other metals as mining companies prospect previously covered mineral-rich rocks.
Oil companies have negotiated rights to explore for oil and natural gas along the Greenlandic coastline. The island may also be swept up in the scramble to claim the Arctic seafloor and its oil wealth.
Potential new revenues from oil, mining, and cheap hydroelectricity supplied by abundant meltwater could soon make independence from Denmark affordable for Greenland, which is heavily dependent on the European country for funding.
The report added Greenland's progress "towards a sustainable economy with the possibility of full sovereignty" may come much sooner than previously thought.
Threats to Native Culture
Yet for Inuit subsistence hunters, global warming promises no silver lining.
In northern Greenland traditional Inuit culture is increasingly under threat from global warming, said Lene Kielsen Holm, sustainable development advisor for the Greenland arm of the Inuit Circumpolar Council in Nuuk.
The sea ice that Inuit use to hunt seals, walruses, and other animals is not staying as long as in previous years.
"The warming of the ocean is making the ice so thin that people living from hunting are not able to follow the routes that they used to," Holm said. "They are seeing more and more accidents."
In the Qaanaaq region of northwestern Greenland this year, hunters lost their gear and sled dogs as abrupt storms broke up the thin sea ice, Holm said.
"If they can't go hunting, they can't feed their dogs," she added.
Holm also cautioned that native Greenlanders could become marginalized under an economic boom.
With a population of only 57,000, Greenland doesn't have the infrastructure needed by multinational oil and mining companies, which could soon start operating on the island, she said. (Related news: "U.S. Coal-Burning Boom Drastically Warmed Arctic" [August 9, 2007].)
"Foreigners would have to be invited to come here, and maybe in the near future we could be in the situation of being the minority in our own country."
Global warming's impact on sea ice and ocean currents are also altering the distribution of animals that the Inuit hunt, Holm said.
Ringed seals—which depend on summer sea ice for breeding and were once common throughout Greenland—are moving farther north.
For Greenland's wildlife, like its people, climate warming may be a mixed blessing.
A study published this summer in the journal Current Biology showed that the wildlife of Greenland's high Arctic are capitalizing on warmer conditions, starting their summer activities up to a month earlier than a decade ago.
The average dates for plants flowering, insects emerging, and bird eggs hatching have advanced by 14.5 days, according to research from Denmark's National Environment Research Institute at the University of Aarhus.
And the WWF report says Greenland's symbolic polar bear is being forced to narrow its range in response to climate change.
"Within the next 50 years," the report said, "the polar bear will probably only be found in the very northwest corner of Greenland."
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