OPINION: Loan guarantees must allow for Indigenous ownership of oil and gas developments – by JP Gladu and Sharleen Gale (Globe and Mail – April 10, 2024)


Just as much-needed energy projects in the U.S. grind to a halt in years-long disputes with Indigenous peoples, Canada is finding its own more optimistic way forward.

An openness to Indigenous project ownership here is fast becoming a major international competitive advantage for Canada, as illustrated by a flood of deals happening across the country in the natural resource sector. It lowers project costs, mitigates conflict, reduces regulatory risk and creates spinoff opportunities for Indigenous nations to develop their own project-related supply chains.

Indigenous ownership accomplishes all of that, and more. This is about economic reconciliation, yes, but it’s also about shared prosperity – once projects get off the ground, they are a win-win-win for government, industry and Indigenous nations. It has been said and widely acknowledged that the road to net zero runs through Indigenous lands. This is where the next chapter of Canada’s relationship with its Indigenous peoples will be written.

While the federal government’s Fall Economic Statement promised an Indigenous Loan Guarantee Program to increase access to affordable capital for Indigenous nations, creating more opportunity for equity ownership in natural resource projects and dismantling some systemic barriers to entry, we’re not there yet.

For the rest of this article: https://www.theglobeandmail.com/business/commentary/article-loan-guarantees-must-allow-for-indigenous-ownership-of-oil-and-gas/