Technical approach to rating of companies in the Arctic Zone based on sustainable development indicators

The article describes the current condition and prospects of growth of mining companies in the Arctic Zone of Russia, and correlates the tendency of change in the performance sustainability of the companies and their diversification in the region. The relationship between the objectives of sustainable development, risks of the companies and their ESG (environmental, social, governance) data is analyzed. The scope of the study encompasses key political, economic, social, ecological and technological risks and the advanced practices of their minimization. The ratings of the Russian and foreign providers of ESG analytics and methodologies are compared. The degree of the correlation between the ratings of different providers is determined as a case-study of mining companies that produce solid minerals in the Arctic Zone of Russia, and a serious discrepancy between them is revealed as a result. The conclusion is drawn about the necessity of harmonizing the existing risks of the mining companies and introducing the industryand regional-specific coefficient. Many different parties discussed in the framework of the research are interested in the development of the proposed coefficient.

Keywords: Russia’s Arctic Zone, ESG approach, management efficiency evaluation criteria, ESG rating, ESG principles, mining sector, sustainable development, risk assessment, strategic management.
For citation:

Stoianova A. D., Trofimets V. Ya., Matrokhina K. V. Technical approach to rating of companies in the Arctic Zone based on sustainable development indicators. MIAB. Mining Inf. Anal. Bull. 2024;(6):149-162. [In Russ]. DOI: 10.25018/0236_1493_2024_6_0_149.

Issue number: 6
Year: 2024
Page number: 149-162
ISBN: 0236-1493
UDK: 338.22.021.4
DOI: 10.25018/0236_1493_2024_6_0_149
Article receipt date: 17.12.2023
Date of review receipt: 19.01.2024
Date of the editorial board′s decision on the article′s publishing: 10.05.2024
About authors:

A.D. Stoianova1, Graduate Student, e-mail:, ORCID ID: 0000-0002-2339-4298,
V.Ya. Trofimets1, Dr. Sci. (Eng.), Professor, e-mail:, ORCID ID: 0000-0002-6873-6642,
K.V. Matrokhina1, Cand. Sci. (Eng.), Assistant, e-mail:, ORCID ID: 0000-0001-5377-3013,
1 Empress Catherine II Saint-Petersburg Mining University, 199106, Saint-Petersburg, Russia.


For contacts:

A.D. Stoianova, e-mail:


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