The social and market mechanism of sustainable development of public companies in the mineral resource sector

Abstract

In the present time, the world’s attention is focused on issues regarding the transition of mining enterprises to a path of sustainable development, which is deter-mined by their role in the functioning of all sectors of the economy. The numerous the-ories, concepts and methods associated with this transition invariably face difficulties at the stage of practical implementation which as yet have not been resolved. The main disadvantage of the existing approaches is their orientation towards forming a policy of state regulators, which contradicts the very essence of market relations. This paper proposes a different approach to ensuring the sustainability of public mining companies, based on the creation of incentives for the development of corporate social responsibility policy. The main element of the proposed mechanism is stock exchanges with enough influence and resources to promote and popularize companies striving to make their production more environmentally friendly and to maximize their social effects. The viability of the proposed approach is confirmed by the growing “green” investment market, which at present is somewhat limited in the industry but has enor-mous potential for further expansion, including with support from mining companies.