IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v16y2024i11p4867-d1410231.html
   My bibliography  Save this article

A Taxonomy of Mineral Resource Projects in the Arctic: A Path to Sustainable Financing?

Author

Listed:
  • Diana Dmitrieva

    (Graduate School of Management, Saint-Petersburg State University, St. Petersburg 199034, Russia)

  • Victoria Solovyova

    (Department of Organization and Management, Empress Catherine II Saint Petersburg Mining University, St. Petersburg 199106, Russia)

Abstract

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.

Suggested Citation

  • Diana Dmitrieva & Victoria Solovyova, 2024. "A Taxonomy of Mineral Resource Projects in the Arctic: A Path to Sustainable Financing?," Sustainability, MDPI, vol. 16(11), pages 1-17, June.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:11:p:4867-:d:1410231
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/16/11/4867/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/16/11/4867/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Diana Dmitrieva & Victoria Solovyova, 2023. "Russian Arctic Mineral Resources Sustainable Development in the Context of Energy Transition, ESG Agenda and Geopolitical Tensions," Energies, MDPI, vol. 16(13), pages 1-28, July.
    2. Diana Dmitrieva & Amina Chanysheva & Victoria Solovyova, 2023. "A Conceptual Model for the Sustainable Development of the Arctic’s Mineral Resources Considering Current Global Trends: Future Scenarios, Key Actors, and Recommendations," Resources, MDPI, vol. 12(6), pages 1-28, May.
    3. Filippini, Massimo & Leippold, Markus & Wekhof, Tobias, 2024. "Sustainable finance literacy and the determinants of sustainable investing," Journal of Banking & Finance, Elsevier, vol. 163(C).
    4. Marina A. Nevskaya & Semen M. Raikhlin & Victoriya V. Vinogradova & Victor V. Belyaev & Mark M. Khaikin, 2023. "A Study of Factors Affecting National Energy Efficiency," Energies, MDPI, vol. 16(13), pages 1-14, July.
    5. Pavel Tsiglianu & Natalia Romasheva & Artem Nenko, 2023. "Conceptual Management Framework for Oil and Gas Engineering Project Implementation," Resources, MDPI, vol. 12(6), pages 1-27, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Evgenii Marin & Tatiana Ponomarenko & Fatima Dirani, 2025. "Designing and Modeling Value-Added Production Sharing Contracts (VAPSC): From Offshore Gas to LNG in Lebanon," Resources, MDPI, vol. 14(5), pages 1-27, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Andrey Lebedev & Alexey Cherepovitsyn, 2024. "Waste Management during the Production Drilling Stage in the Oil and Gas Sector: A Feasibility Study," Resources, MDPI, vol. 13(2), pages 1-30, February.
    2. Marina A. Nevskaya & Semen M. Raikhlin & Amina F. Chanysheva, 2024. "Assessment of Energy Efficiency Projects at Russian Mining Enterprises within the Framework of Sustainable Development," Sustainability, MDPI, vol. 16(17), pages 1-20, August.
    3. Diana Dmitrieva & Victoria Solovyova, 2023. "Russian Arctic Mineral Resources Sustainable Development in the Context of Energy Transition, ESG Agenda and Geopolitical Tensions," Energies, MDPI, vol. 16(13), pages 1-28, July.
    4. Alexey Cherepovitsyn & Aleksei Kazanin & Evgeniya Rutenko, 2023. "Strategic Priorities for Green Diversification of Oil and Gas Companies," Energies, MDPI, vol. 16(13), pages 1-17, June.
    5. Xiujing Qi & Jiaqi Li & Yongliang Yang, 2025. "How Does the Perception of Climate Change Affect Residents’ Choices of Green Assets?," Sustainability, MDPI, vol. 17(7), pages 1-25, April.
    6. Minh Phuong Nguyen & Tatiana Ponomarenko, 2025. "State Incentives for Solar Energy in the Context of Energy Transition in Developed and Developing Countries," Energies, MDPI, vol. 18(5), pages 1-25, March.
    7. Boris V. Malozyomov & Nikita V. Martyushev & Nikita V. Babyr & Alexander V. Pogrebnoy & Egor A. Efremenkov & Denis V. Valuev & Aleksandr E. Boltrushevich, 2024. "Modelling of Reliability Indicators of a Mining Plant," Mathematics, MDPI, vol. 12(18), pages 1-25, September.
    8. Aristei, David & Gallo, Manuela & Vannoni, Valeria, 2024. "Preferences for ethical intermediaries and sustainable investment decisions in micro-firms: The role of financial literacy and digital financial capability," Research in International Business and Finance, Elsevier, vol. 71(C).
    9. Kevin Birk & Stefan Jacob & Marco Wilkens, 2025. "What attracts sustainable fund flows? Prospectus versus ratings," Journal of Asset Management, Palgrave Macmillan, vol. 26(2), pages 216-237, March.
    10. Shunli Qin & Juhua Li & Jingyou Chen & Xueli Bi & Hui Xiang, 2023. "Research on Displacement Efficiency by Injecting CO 2 in Shale Reservoirs Based on a Genetic Neural Network Model," Energies, MDPI, vol. 16(12), pages 1-14, June.
    11. Marszk, Adam & Lechman, Ewa, 2024. "What drives sustainable investing? Adoption determinants of sustainable investing exchange-traded funds in Europe," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 63-82.
    12. Sergey Sidorenko & Vyacheslav Trushnikov & Andrey Sidorenko, 2024. "Methane Emission Estimation Tools as a Basis for Sustainable Underground Mining of Gas-Bearing Coal Seams," Sustainability, MDPI, vol. 16(8), pages 1-22, April.
    13. Natalia Kirsanova & Marina Nevskaya & Semyon Raikhlin, 2024. "Sustainable Development of Mining Regions in the Arctic Zone of the Russian Federation," Sustainability, MDPI, vol. 16(5), pages 1-28, March.
    14. Sri Indah Nikensari & Ega Nurdiyanto & Wong Sing Yun & Siti Fatimah Zahra, 2024. "Sustainable Exports to the European Union from ASEAN Countries: Is There an Impact of Low Carbon Economy?," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 616-623, July.
    15. Minh Phuong Nguyen & Tatiana Ponomarenko & Nga Nguyen, 2024. "Energy Transition in Vietnam: A Strategic Analysis and Forecast," Sustainability, MDPI, vol. 16(5), pages 1-20, February.
    16. Famulok, Jakob & Kormanyos, Emily & Worring, Daniel, 2024. "Do investors use sustainable assets as carbon offsets?," SAFE Working Paper Series 431, Leibniz Institute for Financial Research SAFE.
    17. Cucinelli, Doriana & Soana, Maria Gaia, 2023. "Investor preferences, financial literacy and intermediary choice towards sustainability," Research in International Business and Finance, Elsevier, vol. 66(C).
    18. Ingar Haaland & Christopher Roth & Stefanie Stantcheva & Johannes Wohlfart, 2025. "Understanding Economic Behavior Using Open-Ended Survey Data," ECONtribute Discussion Papers Series 362, University of Bonn and University of Cologne, Germany.
    19. Zohaib Zahid & Jijian Zhang & Chongyan Gao & Judit Oláh, 2025. "ICT-Driven Strategies for Enhancing Energy Efficiency in G20 Economies: Moderating the Role of Governance in Achieving Environmental Sustainability," Energies, MDPI, vol. 18(3), pages 1-22, February.
    20. Bucher-Koenen, Tabea & Herforth, Anna-Lena & Kirschenmann, Karolin & Ravanbakhshhabibabadi, Monireh, 2025. "Financing the green transition: The role of private capital," ZEW policy briefs 04/2025, ZEW - Leibniz Centre for European Economic Research.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:16:y:2024:i:11:p:4867-:d:1410231. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.