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The Arctic is characterized by a well-functioning international governance regime. Arctic and non-Arctic states aim to solve the challenges following climate change in concert. However, certain challenges and processes may destabilize the intergovernmental order in the long run. This report distinguishes between global and regional dynamics. Future global struggles between the great powers may have repercussions in the high north. On the regional level itself, four questions may destabilize Arctic governance: the status of the North-East Passage, unresolved border disputes, the role of China, and the introduction of more military capabilities. The report offers two guidelines for the strategic approach of the Commonwealth of Denmark towards the Arctic. Firstly, the Commonwealth can play a constructive role for the future stability of the Arctic by aiming, to the extent possible, to solve the four regional challenges. Secondly, the approach of the Commonwealth towards the question of Arctic stability cannot be disentangled from Copenhagen's global priorities.