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The development of mineral resources in the Arctic region presents a strategically significant yet challenging endeavor, necessitating a delicate balance between the growing need for resources and pressing climatic and geopolitical concerns. Mineral resource development projects entail high capital intensity and substantial investment risks, with Arctic projects being particularly complex. While sustainable financing mechanisms for projects fostering sustainable development have been largely addressed in many countries through specialized taxonomies, projects within the mineral resource sector require a distinct financing approach. Such a taxonomy should facilitate the establishment of sustainable financing mechanisms for mineral resource projects in the Arctic zone, incentivizing companies to pursue Sustainable Development Goals (SDGs) and mitigate potential social and environmental risks. This article examines the key aspects of sustainable financing for mining-related business projects amidst current trends, substantiating the prerequisites for establishing a taxonomy of Arctic mineral resource projects. Among the most important prerequisites are the contradiction between the SD concept and the development of mineral resources, specific characteristics of Arctic mining projects, and current financing restrictions. An approach to project financing is developed, and an option for classifying Arctic mineral resource projects for the subsequent taxonomy is proposed. [ABSTRACT FROM AUTHOR]

The Arctic region is well-known as a source of energy and mineral resources. Developing these resources by means of responsible practices could provide the world's economy with strategically and critically important types of minerals. As a result, the role of the Arctic's resource potential and the approaches used to develop it are gradually changing. In current conditions, it is crucial to strike a balance between existing needs and long-term demand for traditional energy sources or critical materials, such as rare and rare-earth minerals. Achieving this balance will result in sustainable growth, meeting ESG agenda targets while considering national security priorities, and devising novel approaches to sustainable project financing. However, there is controversy between existing strategies and plans based on low-carbon development and reality, which creates new macroeconomic and geopolitical obstacles that need to be overcome. The primary goal of this research is to substantiate the necessity of transforming the Russian Arctic's mineral resource exploration in the context of global and national changes. The article presents a comprehensive analysis of the contemporary trends and tendencies influencing the exploration of the Arctic's resources, as well as a general vision of the current situation in the energy sector. Research methods include content analysis and synthesis, generalization, decomposition, elements of strategic analysis, planning and forecasting, statistical methods, econometric modeling methods, and scenario planning. An upgraded concept of sustainable development based on six key components is proposed and discussed. Recommendations are provided on how to improve the existing system of long-term planning and forecasting to reduce the high level of macroeconomic and geopolitical uncertainty. The role of Russian Artic resources is determined in light of the shift in resource use. [ABSTRACT FROM AUTHOR]

Today, the issues of sustainable development are among the most pressing ones. They are particularly relevant in the context of mineral resource development as operations in this sector always have an impact on the environment and socioeconomic development. Developing the mineral resource base of the Arctic presents a difficult task, as it requires finding a balance between the growing demand in resources and the acute climatic and geopolitical challenges. In view of both the specific features of the region and the pressure caused by various trends and challenges, ensuring the sustainable development of the Arctic's mineral resource base is highly important. In 2022, the global landscape that consists of sustainable development trends, ESG agendas, and environmental awareness was supplemented by national import substitution policies introduced in many strategic industries, which led to an inevitable increase in demand for mineral resources. This substantiates the importance of the research goal—developing a model for the sustainable development of the Arctic's mineral resource base that will produce quantitative results and provide key actors with reasonable recommendations for restructuring the priority areas of development. [ABSTRACT FROM AUTHOR]

Copyright of Scientific Papers of Silesian University of Technology. Organization & Management / Zeszyty Naukowe Politechniki Slaskiej. Seria Organizacji i Zarzadzanie is the property of Silesian Technical University, Organisation & Management Faculty and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Exploitation of oil and gas resources in the Arctic offshore is one of Russia's key priorities in such areas as science, economy, and technology. Global trends, harsh climate conditions, fragile ecosystems, conditions of the pandemic and post-pandemic periods, price volatility, and the growing importance of the environmental factor require that the process of developing the Arctic's hydrocarbon resources should become strategically sustainable. The paper provides a deep literature review on sustainability issues, sustainable development, strategic sustainability, and project efficiency in the Arctic offshore oil and gas sector. The paper analyzes the trends and conditions that substantiate the need to transform the traditional sustainability concept to meet new challenges and comply with new policies. Based on the analysis, the authors propose a definition of and a conceptual framework for strategic sustainability of oil and gas offshore projects in the Arctic. [ABSTRACT FROM AUTHOR]

According to the forecasts made by IEA, BP, and Total in early 2021, the demand for hydrocarbons will continue for decades, and their share in the global energy balance will remain significant. Russia, as a key player in the energy market, is interested in maintaining and increasing hydrocarbon production, so further exploitation of the Arctic energy resources is an urgent issue. A large number of onshore oil and gas projects have been successfully implemented in the Arctic since the 1930s, while recently, special attention has been paid to the offshore energy resources and implementation of natural gas liquefaction projects. However, the implementation of oil and gas projects in the Arctic is characterized by a negative impact on the environment, which leads to a violation of the ecological balance in the Arctic, and affects the stability of its ecosystem, which is one of the most vulnerable ecosystems on the planet. The main goal of the present study is to understand how the implementation of oil and gas projects in the Arctic affects the ecosystem, to assess the significance of this process, and to find out what the state and business could do to minimize it. In the article, the authors analyze energy trends, provide brief information about important oil and gas projects being implemented in the Arctic region of Russia, and investigate the challenges of the oil and gas projects' development and its negative impacts on the Arctic environment. The main contributions of this paper are the identification of all possible environmental risks and processes accompanying oil and gas production, and its qualitative analysis and recommendations for the state and business to reduce the negative impact of oil and gas projects on the Arctic ecosystem. The research methodology includes desk studies, risk management tools (such as risk analysis, registers, and maps), brainstorming, the expert method, systematization, comparative analysis, generalization, and grouping. [ABSTRACT FROM AUTHOR]

The nature of entrepreneurship and its developmental paths in the urban environment are extensively studied in the scientific literature. With a rising interest of scholars in the smart city phenomenon, the role entrepreneurship plays in the development of smart cities became a central topic in academia. However, there is a lack of discussion concerning the specific settings and characteristics of digital entrepreneurship in the smart city scenario. Nowadays, the concept of digital entrepreneurship is considered as a part of the digital entrepreneurial ecosystems (DEE) that provides an environment for effective entrepreneurial activities. Hence, the investigation on how DEE is interconnected with smart cities and how they both can contribute to their mutual development appears both timely and necessary. To reach this research objective, the authors, after giving a clear definition of each component of DEE based on an extensive literature review, consider its interconnection with the smart city model. The connection between the dimensions of a smart city and the structural constituents of DEE is also tracked, highlighting the contribution of each element to the development of a smart city. Through the creation of a comprehensive framework, the results of the paper show clearly that DEE is an inevitable part of a smart city environment. The research also covers the model of DEE engagement in smart city architecture. [ABSTRACT FROM AUTHOR]

Currently, the Russian oil and gas industry is characterized by significant reserves depletion and the late stage of development of most fields. At the same time, new fields that are brought into industrial development, in the majority of cases, have hard-to-recover reserves. Furthermore, most prospective oil and gas deposits are located in the Arctic and its offshore territories and their development is much more complicated due to regional peculiarities. This substantiates the necessity of a special approach to the development of the oil and gas potential of the Arctic, based on innovation. The goal of the paper is to reveal the role of innovation activity in the sustainable development of the oil and gas potential in the Arctic and its offshore zone. The paper briefly presents the main urgent factors of Arctic development, which highlight the necessity of innovation for its sustainability. Then, it introduces the methods used for the research: the Innovation Policy Road mapping (IPRM) method in accordance with Sustainable Development Goals (SDGs) concept for clarifying how innovations will lead to sustainable development. In terms of results, this paper presents an innovation policy roadmap for the sustainable development of oil and gas resources of the Russian Arctic and its shelf zone and identifies the role of innovation within this development. [ABSTRACT FROM AUTHOR]