The IMO Polar Code requires operators to consider the hazards associated with the specific environment of operation in Polar waters. Various sources of climate and environmental data are publicly available to quantify environmental hazards. This study considers an example Ice Class IB ship, that is not intended to operate in low air temperature (as defined in the Polar Code), and not intended to operate in marine icing conditions. Considering these hazard limitations in concert with analysis of historical data, a theoretical operational envelope for the ship is established. The methodology presented in this paper can be expanded to include more hazards as appropriate. Proposals are provided on future enhancements.