The Russian government has historically been responsible for the Indigenous peoples of the North, Siberia, and the Far East and ensures the preservation of their original habitat, traditional way of life, and spiritual heritage. Comprehensive measures are being taken for their ethno-cultural development and social support, as well as to strengthen the systems of essential services for the most vulnerable groups of such peoples. As a result, the Indigenous peoples of Russia, unlike many regions of the world, have retained their population numbers, settlement systems, self-government, lifestyle, culture, languages, and ties to their lands. However, due to globalization, economic growth, and the resulting transformation of the system of social relations, Indigenous peoples now face new challenges and threats, namely the need to expand their own economic potential in order to strengthen their autonomous systems of livelihood. Solving this problem requires modernizing the conditions for the traditional types of economic activities of Indigenous peoples, supporting their entrepreneurial initiatives in these areas, as well as including them in the development of the creative economy. Creative industries, handicrafts, tourism, ethnic branding, and territorial marketing are increasingly linked to the use of the traditional knowledge, spiritual heritage, and exclusive traditional crafts of Indigenous peoples, which have export potential and are in high demand on domestic markets. What significance do the traditional economic activities of Indigenous peoples hold for the socioeconomic development of the remote northern and eastern regions of Russia? What improvements can be made to government support measures for the traditional economic activities of the Indigenous peoples living in the Russian North, Siberia, and the Far East? What are some of the current problems that need to be addressed to preserve and develop reindeer herding, not only as an ethnically key component of the subsistence economy? How can socially responsible investment (ESG) by industrial companies and subsoil users aim to maintain environmental standards, preserve the habitat and traditional economic activities of Indigenous peoples, and ensure industrial cooperation with them?