Relevance of the “Polar Index” Project for Sustainable Development of the Russian Sector of the Arctic Zone

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Introduction. The following study answers the question whether the “Polar Index” project is a reliable reflection of the development of the Russian Arctic region in the field of sustainable development. Within the framework of this scientific work, the analysis of the general methodology for calculating the "Polar Index" assigned to each of the companies operating in the Russian Arctic was carried out. The analysis made it possible to understand the logic of assigning an organization to one of the three groups, depending on how active its sustainable development policy is.Materials and methods. The materials used in the given article include studies of Russian scientists devoted to sustainable development of the Arctic region, as well as the materials published on the official web-sites of Russian energy companies. In terms of research methodology, the article pays special attention to event analysis aimed at identifying and interpreting key activities and projects that are implemented by Russian companies in the Arctic zone within the framework of sustainable economic, social and environmental development. In order to do this, three Russian energy companies of different levels of participation in the development of the region were selected. Next, for each of these companies, an analysis of its actions and development strategy regarding the Russian segment of the Arctic was carried out.Results of the study. The comparison of the assessment of Russian energy companies’ activities based on the Polar Index and the conclusions regarding the effectiveness of their activities obtained as a result of the event analysis proves that the Polar Index project indeed reflects the effectiveness of the activities of Russian companies in the Arctic region, as well as the degree of their involvement in sustainable development of the polar region in question, with a high degree of reliability.Discussion and conclusion. The research revealed Russian companies, the activities of which to a substantial degree comply with all the three criteria of sustainable development, namely, economic, ecological, and social. That being said, relevant scientific research on the given subject demonstrates that the companies, which managed to achieve the best results in the given sphere, are Rosneft, Norilsky Nikel and Gaspromneft.