Canada has some examples of support for Indigenous projects, but there are no federal programs that provide loan guarantees or tax credits for Indigenous ownership of resource projects.
The Indigenous Infrastructure Bank provides a modest level of funding to assist various projects, primarily focusing on specific areas. However, its current mandate does not encompass the level of support needed to assist in equity partnerships for major projects.
Canada is behind our allies when it comes to support for Indigenous ownership of economic projects. The United States provides stackable tax credits that total up to 70% of the project cost.
- 20% Benefiting Tribal Communities Tax Credit
- 10% Energy Communities Tax Credit
- 10% Domestic Content Tax Credit
- 30% Investment Tax Credit
Too many Indigenous communities lack jobs and economic opportunities. One in four Indigenous people are living in poverty. There is a crisis-level lack of opportunity, and it negatively impacts self-determination for many Indigenous nations in Canada.
We’ve already seen benefits in Indigenous communities with ownership stakes in projects, such as the hiring of schoolteachers, improving life for elders, purchasing land and building infrastructure, just to name a few.
Environmental, Social, and Governance (ESG) standards are a major element of investment decisions, and those standards are a mirror of Indigenous beliefs and values. Indigenous communities are the future of energy development.
We need to act on reconciliation.
We’re not seeking handouts, we’re asking for opportunity.
We want to go further than consultation, we want a seat at the table.
Ownership is opportunity.
Ownership is part of the solution.
Ownership is Reconciliation.
Sign the petition and show your support for Indigenous Ownership in Resource Projects!