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Financial Strategy for Energy Development of Russian Regions in Industry 4.0 for the Period up to 2030 in Order to Achieve Sustainable Development and Security Goals

In: Industry 4.0

Author

Listed:
  • Tatiana D. Malyutina

    (Volzhsky Institute of Economics, Pedagogy and Law)

Abstract

Purpose: This research is designed to bridge the gap between the state plan and the practice of regional entrepreneurship through the development of a financial strategy for the development of energy in the regions of Russia in industry 4.0 for the period until 2030 in order to achieve the goals of sustainable development and security. Design/methodology/approach: The first part of the research determines the regression dependence of the coverage of the business with energy innovations and wear and tear of equipment in the energy sector on the volume of investments in fixed assets in the energy sector in the sampling regions in 2020. The second part of the study on the basis of the obtained regression dependence reveals the necessary volume of investments in fixed assets in the energy sector to achieve full coverage of the business with energy innovations, as well as reducing equipment wear in the energy industry to a minimum level. Findings: It was revealed that a severe shortage of funding is a serious barrier to the digitalization of energy in the regions of Russia. At the first stage of implementation of the developed strategy (until 2024), it is recommended to increase the volume of investments in fixed assets in the energy sector by 16 times, and at the second stage (until 2030)—by 85 times compared to 2020. Originality/value: A financial strategy for the development of energy in the Russian regions in the industry 4.0 for the period up to 2030 has been developed and scientifically justified in order to realize the goals of sustainable development and security.

Suggested Citation

  • Tatiana D. Malyutina, 2022. "Financial Strategy for Energy Development of Russian Regions in Industry 4.0 for the Period up to 2030 in Order to Achieve Sustainable Development and Security Goals," Springer Books, in: Elena B. Zavyalova & Elena G. Popkova (ed.), Industry 4.0, pages 453-460, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-79496-5_41
    DOI: 10.1007/978-3-030-79496-5_41
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