News Release
The City of London,
United Kingdom
7th May 2024
The inaugural Canadian Indigenous Investment Summit, held today at Mansion House and co-organised by gigCMO and McCarthy Tétrault, concluded after a day of meaningful discussions between Indigenous Chiefs and business leaders from Canada and the City of London’s investment community. Discussions centred on cooperative sustainable investment within Canada's energy, natural resources, and infrastructure sectors. The event was supported by lead partner CIBC, along with Anglo American, Scotiabank, and Enbridge, emphasising the integration of Indigenous perspectives to ensure investments are sustainable and beneficial across all stakeholder groups.
Today’s discussions highlighted the unprecedented number of high-profile investment opportunities involving Canada’s Indigenous communities and businesses that are now available to outside investors. These unique investment opportunities have only recently become available in vast numbers as a result of a number of coinciding factors. First, the global race to secure stable energy and critical mineral supplies has led to a number of proposed energy and mining projects in Canada, which invariably involve Indigenous territories.
Second, there is a consensus emerging in the non-Indigenous business community that Indigenous consent for major projects is now a requirement for major project success across Canada and even a competitive advantage. Third, Indigenous communities are no longer settling for promises of jobs or the leasing of land in exchange for their support for projects that affect them. Instead, they are insisting on more meaningful engagement including taking equity stakes in projects and businesses, all of which require financing. Finally, government legislative and financial support at both the provincial and federal levels in Canada is at an alltime high, as exemplified by the recent announcement by the federal government of a $5 billion guaranteed loan program to help unlock opportunities for equity stakes in major resource projects as well as the gradual implementation of informed consent laws such as those adopting the principles of the UN Declaration on the Rights of Indigenous Peoples.
The Summit participants underscored how the integration of Indigenous knowledge and practices can enhance the sustainability and viability of investments. By aligning investment strategies with Indigenous stewardship, the
Summit showcased pathways towards economic reconciliation that respect Indigenous rights and promote long-term, equitable growth.
The Summit also served as a launching pad for ongoing dialogue and partnership. It sought to expand and deepen the discussion on how best to involve Indigenous perspectives in global investment strategies, with plans already underway for future events to build on today's successful foundations.
Robert Brant, Summit Co-Chair, a Mohawk and the Managing Partner of Canadian law firm McCarthy Tétrault’s London, England office, remarked:
"The Summit successfully highlighted for the British investment community that (i) there are a huge number of very attractive investment opportunities available involving Canada’s Indigenous communities and businesses, (ii) Canadian
Indigenous communities can be very supportive of major projects when they are involved in a meaningful way from an early stage and (iii) there are proper and improper ways to go about engaging with Indigenous communities."
Mark Magnacca, Summit Co-Chair CEO & Founder of gigCMO, a business consultancy, added:
"We've established a robust foundation for continued dialogue and engagement between Indigenous Peoples in Canada and financial and related professional services in the UK. The convening power of the City provides an ongoing platform for transformational conversations and initiatives to deliver inclusive economic
growth.
In recognition of their efforts to foster collaboration and development between Canadian Indigenous communities and the global investment sector, the co-chair of the Summit, Robert Brant, along with three Indigenous Chiefs—Chief David Joseph Jimmie of the Squiala First Nation, Chief Derek Anthony Epp of the Tzeachten First Nation, and Chief Donald Maracle of the Mohawks of the Bay of Quinte—were awarded the Freedom of the City of London by the Lord Mayor of the City of London at a ceremony following the Summit.
For further information, please contact:
info@canadianindigenousinvestmentsummit.com
+44 20 3545 1010
Siyuan Ren
Producer, Canadian Indigenous Investment Summit
Notes to editors:
The Canadian Indigenous Investment Summit is committed to fostering sustainable and inclusive investment practices that incorporate and respect the perspectives and rights of Indigenous communities, aiming to benefit all involved stakeholders. For more information, please visit: https://www.gigcmo.com/canadian-indigenous-investment-summit-2024.