Север и рынок. 2022, № 4.

СЕВЕР И РЫНОК: формирование экономического порядка. 2022. № 4. С. 23-39. Sever i rynok: formirovanie ekonomicheskogo poryadka [The North and the Market: Forming the Economic Order], 2022, no. 4, pp. 23-39. ИННОВАЦИИ И ПРОБЛЕМЫ УСТОЙЧИВОГО РАЗВИТИЯ СЕВЕРА ИАРКТИКИ (the company), allowing the understanding of the impacts of the company's strategies and activities on the SD of the region where it is located. This framework is particularly useful for territories where a large company dominates the socio-economic system of the region. In these regions it is possible to argue that the activities of the company in the social, environmental and economic dimensions have a certain impact on individual aspects of SD in the region. The framework was developed using the Balanced Score Card methodology and a real case — the Russian region Sakha (Yakutia), on whose territory the public joint stock company "ALROSA" has a considerable impact. Literature Review Sustainability development indicators in companies In order to achieve SD, it is mandatory that companies make a commitment to ensure that their businesses are environmentally sustainable and socially fair [9]. In order to warrant the sustainability of its business, a company needs to ensure both financial success, respect for its workers, the environment and society. This is often named as Corporate Social Responsibility (CSR), which is often considered as a tool to achieve SDGs on a company's level [10]. The incorporation of policies and objectives that reduce the environmental impact and increase social fairness of companies is a process that is still recent and often a result of the pressure they are exposed to through top-down policies emanating from international organizations and national governments and to through its stakeholder's interests [11, 12]. At the same time, the development of new business models and strategies that take into account the risks to which society is subject (climate change, water and resource scarcity, unemployment, hunger, among others) is a great opportunity for the construction of new markets that develop more efficient and sustainable solutions and allow accessibility of products and services even to the poorest3. Although companies, especially large ones in developed countries, have been integrating sustainability into their strategic planning and management actions [13], a recent study on the challenge of incorporating the SDGs into businesses [14] has concluded that only % of the companies included the SDGs in their published business strategy, and those that do it pay varying degrees of attention to and place different priority on different goals. This is exacerbated in small and medium-sized enterprises that face higher barriers, namely those linked to the lack of resources and leadership [13, 15]. 3 "Guide to Corporate Sustainability | UN Global Compact," 2015. https://www.unglobalcompact.org/library/1151 (accessed Jun. 24, 2022). 4 "How to use the GRI Standards". https://www.globalreporting.org/how-to- use-the-gri-standards/ (accessed Aug. 10, 2021). Sustainability Reports are one of the tools available to companies for their sustainability self-assessment. They enable to integrate sustainability information into the reporting (non-financial reporting), providing information on the impacts of their business that can be used to improve their environmental and social performance and balance them with financial performance4and to convey a good image to consumers and other stakeholders [13]. In this respect, the Global Reporting Initiative (GRI), launched in 1997 by the United Nations Environment Programme and by the Coalition for Environmentally Responsible Economics, is a milestone in establishing standards that enhance the quality, rigor and utility of sustainability reporting, in the three dimensions of SD. Currently, alongside the sustainability reporting there are other tools that allow companies to stand out in an increasingly competitive market focused on the environmental sustainability, of which two can be highlighted: the BCorp certification and the Life Cycle Assessment. The BCorp certification determines, through a thorough assessment, the impact of the business on workers, community, environment and consumers and highlights companies that have excellent environmental and social performance [16]. The Life Cycle Assessment evaluates and quantifies the impacts associated with a product, from the extraction of natural resources necessary for its production to its consumption, thus avoiding a superficial analysis and allowing to compare identical situations or products and decide which is the most sustainable5. Moreover, certifications and audit schemes are available (e. g., the environmental management standard ISO 14000 and the Eco-Management and Audit Scheme). Thus, companies have, nowadays, a diverse set of tools that allow them to make their business model more sustainable. However, in order to assess the progress of each company in terms of SD, it is necessary to use indicators. Choosing which indicators are most appropriate and relevant to include in is a complex process for companies, given their variety and their different real meanings [17]. In this context, sustainability indexes at corporate level have become extremely useful tools in the assessment because they allow simultaneously to monitor the company's performance and create a global sustainability reference for benchmarking. It is now possible to find several proposals of indexes, developed both by international organizations, namely the Dow Jones Global Index and the FTSE4GOOD. It is also possible to find several academic proposals of sustainability measurement frameworks for companies 5 International Organization for Standardization, "ISO 14040-Environmental management — Life cycle assessment — Principles and framework," 2006. Available at: https://www.iso.org/standard/37456.html. © Гутман С. С., Рытова Е. В., Соуза К., Кадзаева В. В., 2022 25