Statement from IRN Regarding Enbridge Agreement
September 28, 2022
FOR IMMEDIATE RELEASE
Calgary, AB – This morning’s announcement by Enbridge and the Athabasca Indigenous Investments (IAA) group is fantastic news for Indigenous economic reconciliation. The 23 First Nations and Métis communities announced an agreement collectively 11.57% non-operating interest in seven Enbridge-operated pipelines in the Athabasca region of northern Alberta for $1.12 billion.
This is yet another positive step in Indigenous ownership in Canada’s resource projects. “This is great news for our Indigenous communities. Being owners and partners in our resource sector leads to real self-determination for our people” said IRN’s executive director.
As part of the ownership changes everything campaign, the Indigenous Resource Network has been advocating for a National Indigenous Guaranteed Loan Program, like Alberta’s Indigenous Opportunities Corporation (AIOC). The AIOC played a key role in facilitating and raising the necessary capital, a $250 million loan guarantee, for these Indigenous communities to acquire ownership in these Enbridge-operated pipelines.
“I am very pleased to see some of our communities taking this necessary step in becoming owners of projects taking place on their lands. We still have more work to do. We need a national program, like the AIOC, so that agreements like this can take place all over Canada.”