ST. PETERSBURG, December 8. /TASS/. The strategy for development of the Russian Federation's Arctic Zone to 2050 needs to be adapted to the changing macroeconomic and geopolitical conditions, Sergey Nikonorov of the Lomonosov Moscow State University's Economy Department told TASS on sidelines of the 13th international forum Arctic: Present and Future.

"The Russian Arctic Zone needs a new strategy to 2050, taking into account the current macroeconomic and geopolitical situations. A new strategic document will be aimed at using the entire natural resource and labor potential of the Russian Arctic regions. The new strategy's main goal should be to improve the quality of life," he said, adding that presently the life quality in the Russian Arctic regions remains below the national average.

The new strategy needs to be developed in "correlation with the United Nations' Sustainable Development Goals, with Russia's strategy for the social and economic development with low greenhouse gas emissions until 2050, as well as in compliance with Russia's obligations under the Paris Agreement," he continued.

The expert pointed to the growing importance of the ESG agenda in strategic planning. "It is necessary to have environmental adjustments to traditional development indicators, an adequate assessment of natural resources and services, of environmental damage in economic indicators when taking economic decisions at the macro and micro levels. There is a demand for innovations and technological changes leading to a reduced consumption of natural resources and environmental impacts," he added.

In October 2020, Russian President Vladimir Putin inked the strategy for the Russian Federation's Arctic Zone development to 2035. The Russian Federation's Arctic Zone includes nine regions - four federal districts fully (the Chukotka Autonomous Region, the Yamalo-Nenets Autonomous Region, the Nenets Autonomous Region, and the Murmansk Region) and 45 municipalities in another five federal districts (in the Karelia, Komi, Arkhangelsk, Krasnoyarsk, and Yakutia Regions).

About the Forum

The 13th international forum Arctic: Today and the Future is running in St. Petersburg from December 7 to 8. The forum is organized by the interregional non-governmental organization Association of Polar Explorers with the support and participation of the Federation Council, State Duma, and the Ministry for the Development of the Far East and the Arctic, the Ministry of Foreign Affairs, and other relevant ministries and agencies. The MMC Norilsk Nickel is the forum’s general partner, and the VTB Bank is the event's official sponsor. TASS is the forum's general information partner.