Social Investing Modeling for Sustainable Development of the Russian Arctic

Andrey Novoselov, Ivan Potravny, Irina Novoselova and Violetta Gassiy
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Andrey Novoselov: Department of Mathematical Methods in Economics, Plekhanov Russian University of Economics, 36 Stremyanny Lane, 117997 Moscow, Russia
Ivan Potravny: Basic Department of Project and Program Management Capital Group, Plekhanov Russian University of Economics, 36 Stremyanny Lane, 117997 Moscow, Russia
Irina Novoselova: Department of Industry Markets, Financial University under the Government of the Russian Federation, 49, Leningradsky Prospekt, 125993 Moscow, Russia
Violetta Gassiy: Public Administration Department, Kuban State University, 149 Stavroposkaya, 350040 Krasnodar, Russia

Sustainability, 2022, vol. 14, issue 2, 1-18

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.

Keywords: sustainable development; social and economic development; social investing; modeling; Arctic; Russia; indigenous communities (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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