Developing the Framework
Process Overview
In 2022, NRCan held over 80 sessions with Indigenous partners, industry, and provinces and territories as part of an initial engagement phase that focused on identifying the scope of a NBSF and improving access to affordable capital for Indigenous communities seeking equity ownership in projects.
Across all discussions, it was agreed that a framework could bring increased quality and consistency to benefits sharing and increase the capacity of Indigenous communities to partner in the natural resource sector, with access to capital arising as an area of shared priority. Four themes emerged as the basis for the NBSF: (1) capacity, (2) inclusion, (3) partnerships, and (4) economic benefits.
In 2023, NRCan began a more detailed, second phase of engagement based on these themes. From fall 2023 and throughout the first half of 2024, NRCan held in-person roundtable discussions and bilateral meetings across the country with Métis, Inuit, and First Nations (including Modern Treaty holders, self-governing nations, and historic treaty partners). Engagement also took place with Indigenous economic development experts, national and regional Indigenous organizations, Indigenous industry associations, non-Indigenous industry associations, companies, and provincial and territorial governments. In all, more than 130 Indigenous organizations, governments, industry associations and economic development corporations were engaged.
Indigenous and industry partners expressed that initial prioritization should focus on opportunities for Indigenous communities to participate as partners in natural resource projects by increasing access to affordable capital. For more information on the Indigenous Loan Guarantee Program, please visit the Canada Development Investment Corporation here.
Outcomes of the above scoping discussions and engagements sessions will be used to inform the development of a framework, expected to be released in 2025.
A national framework
Themes
Learn more about existing initiatives, known gaps, and potential solutions related to all the NBSF themes.
Page details
- Date modified: