CONTRIBUTION OF MINING COMPANIES TO THE SUSTAINABLE DEVELOPMENT OF THE MINERAL RESOURCE BASE IN THE ARCTIC REGION: A NEW APPROACH TO RANKING KEY ACTORS AND ASSESSING THEIR INTERACTION

• Published in: Север и рынок: формирование экономического порядка
• Main Authors: Diana M. Dmitrieva, Amina F. Chanysheva
• Format: Article in Journal/Newspaper
• Language: English; Russian
• Published: The Russian Academy of Sciences, Federal Research Centre Kola Science Centre 2024
• Subjects: sustainable development; arctic region; mineral resources; esg ranking; mineral resource use; Social Sciences; H; Northern Sea Route
• Online Access: https://doi.org/10.37614/2220-802X.2.2024.84.006; https://doaj.org/article/ca79fca6db93481394b50c6ec56a327e

The development of mineral resources is currently controversial due to the significant influence of global climatic and environmental trends. This is particularly relevant to the Arctic due to the fragility of its ecosystems and the major impact of its climate on the global climate. At the same time, the Arctic region is strategically important for Russia due to the presence of many minerals and the Northern Sea Route, which ensures national goals and interests. Balancing sustainable development and national interests necessitates a special approach to mineral resource development in the Arctic. Ensuring the sustainable development of the mineral resource base is a complex process that involves companies, the state, and regions. The article analyzes existing approaches to assessing the contribution of companies to the sustainable development of the Arctic region and underscores the role of the ESG concept. As a result of the research, a model of interaction among key actors has been developed to ensure the sustainable development of the mineral resource base in the Russian Arctic, highlighting the key areas of responsibility for each actor. Based on this model, an approach to the sustainable development of the mineral resource base in the Arctic has been formulated, combining both the ESG concept and the active collaboration of the three actors in promoting rational resource use, including the replenishment of mineral reserves. A checklist for assessing the contribution of mining companies to the sustainable development of the mineral resource base is proposed, encompassing ESG rankings and components such as contributions to mineral exploration, field development, rational resource use, and national security. The developed approach has been tested on key mining companies in the Arctic region.