The relevance of this study is due to the growing interest of business structures in optimizing resource efficiency through the active introduction of zero-waste technologies and an increase in the consumption cycle. The Arctic zone of the Russian Federation is the largest region of the country and its strategic resource base. This territory is characterized by significant geopolitical and defense interests of the Russian Federation and by a powerful export and production potential. The circular economy agenda is particularly acute for the Arctic zone of the Russian Federation and requires a science-based systemic approach to the organization of environmental management, taking into account the uniqueness and characteristics of this region. The goal of this research is to develop a concept of environmental management based on the involvement of key stakeholders in this activity and to justify the mechanism of its implementation. Research methodology: The authors used general theoretical methods of analysis, comparison, and generalization, as well as the stakeholder theory and content analysis. As a result, the authors have revealed the essence of environmental management—the creation of a new way of thinking regarding the care for natural resources, and its efficient use both at the business entity level and with the participation of all stakeholders. The principles and models of environmental management based on the stakeholder approach are proposed. The key role of public authorities in the development of proactive environmental management in Russia’s Arctic territory is substantiated. An organizational and managerial mechanism of state support for the introduction of circular economy technologies into the activities of business structures is proposed.