Scenario of Balanced Development of Industry 4.0 and Green Economy in the Regions of Russia: Financing, Sustainability and Security

Purpose: the research is aimed at developing a scenario for the balanced development of industry 4.0 and the green economy in the regions of Russia, determining the optimal proportion and target amount of financing in the interests of systemic stability and safety. Design/methodology/approach: (1) regression dependence of the polar index reflecting the level of stability of the development of the Arctic regions of Russia on the environmental (“green”) index and the level of digitalization (industry 4.0) is determined; (2) environmental (“green”) index of environmental costs and (3) level of digitalization (industry 4.0 of costs for the introduction and use of digital technologies. Based on the established regression dependencies, the required level of digitalization and environmental index is determined to achieve the maximum value by the polar index and target funding volumes. Findings: It was revealed that for the sustainable development of the Arctic regions of Russia, digitalization and the transition to industry 4.0 are most important, which should be accelerated by an average of 8.25 times. In order to do this, the amount of financing for digitalization should increase by 34.19 times. Originality/value: A scenario of balanced development of industry 4.0 and green economy in the regions of Russia has been formed. A fundamental possibility has been proved, but a low probability of achieving sustainable development financing in the Arctic regions of Russia and the feasibility of finding alternative—non-financial mechanisms.