The article discusses sustainable development in small Arctic communities under ongoing neoliberalization of economic and social policies. It draws on a case study from Teriberka, a coastal village in Northwest Arctic Russia. To understand the processes of sustainable development of such Arctic communities, the study applies the concept of community capitals, examines the effects of neoliberal policies on Teriberka, and analyses the impact of local strategies on community capitals. The research confirms that the balanced development of community capitals is both a path to and an indicator of sustainable development in small Arctic communities facing neoliberalism. The study reveals that recent initiatives undertaken mainly by outside actors have not invested Teriberka’s capitals in a balanced way and have thereby not promoted sustainable local development. Community capitals are suggested as an appropriate model to discovering what small Arctic communities may do in practice to advance sustainable development in the face of neoliberal change. Also, in small communities with scarce human, social, and political capitals – as is the case in many Arctic communities – this model can work effectively only if local interests are not ignored by the state and external business actors
