Social Investing Modeling for Sustainable Development of the Russian Arctic

Andrey Novoselov,Ivan Potravny,Violetta Gassiy,Irina Novoselova

doi:10.3390/su14020933

Andrey Novoselov, Ivan Potravny + Show 2 more

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https://doi.org/10.3390/su14020933

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Abstract

The method of the social investing of the Arctic subsoil users is considered in this article. As the portfolio of social investments is formed based on the interests of indigenous peoples, the authors used expert assessment and sociological research for social investing modeling. A two-stage procedure for forming a portfolio of such projects is proposed. An approach has also been developed for assessing and selecting investment projects for the Arctic sustainable development according to different criteria of optimality. The authors substantiate the need for a new approach to sustainable development of the Arctic, based not on compensation for the negative consequences of industrial development used in many countries, but on social investment. In this article the proposed approach is tested on the case of the Arctic indigenous community in Taimyr and the optimal social investing portfolio is justified.

Highlights

The Arctic Strategy of the Russian Federation until 2035 is devoted to ensuring national security and could be described as largely socially oriented taking into account the interests of the local population
The implementation of the Strategy for the Development of the Russian Arctic in the future involves the implementation of a number of investment projects for the development of this territory
Such projects should have a social orientation and take into account the interests of the local population, which is associated with the construction of modern social facilities adapted for polar conditions, energy-efficient and environmentally friendly housing, the development of traditional economy, the development of Arctic tourism, and the preservation of cultural traditions and the ethnic group of the peoples of the North, etc

Summary

Introduction

The Arctic Strategy of the Russian Federation until 2035 is devoted to ensuring national security and could be described as largely socially oriented taking into account the interests of the local population. The Arctic investment projects are associated with the construction of modern social facilities adapted for polar conditions, energy-efficient and environmentally friendly housing, the development of traditional industries of the North, the development of Arctic tourism, medicine, the preservation of cultural traditions, the indigenous peoples, and the construction of fiber optical communication lines along the Northern Sea Route and the Arctic rivers to eliminate the “digital inequality” problem and to provide high-quality Internet connection to the Arctic regions [1] These projects are generally aimed at improving the quality of life, promoting employment, and creating new jobs, including for the indigenous population, developing local crafts, reducing poverty, and increasing the incomes of the population of the Arctic zone [2]. This process is accompanied by high risks economically, politically, environmentally, etc. [4]

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