Key Takeaways from the 8th Annual FNMPC Conference

This year’s First Nations Major Projects Coalition (FNMPC) conference (April 27 – 29) underscored that true reconciliation requires more than financial backing, especially in the energy transition, where Indigenous Peoples are not only eager to participate but are essential to its success. Centered on the theme of Unlocking Capital for Indigenous Equity Investments, the conference was attended by leaders from Indigenous Nations, industry, government and the financial sector.

Speakers emphasized a fundamental shift in how Indigenous inclusion is being defined — not as a downstream license to operate, but as a cornerstone of successful, scalable and just development. Achieving true equity demands capacity building, trust and inclusive partnerships — especially with Indigenous communities. Notably, the conference coincided with the Canadian federal election, where the new government’s platform included commitments to renew and strengthen Canada’s economic relationship with Indigenous communities through ambitions such as an expansion to the Indigenous Loan Guarantee Program and the potential of an Indigenous Infrastructure Bank.

From Capital to Collaboration: Trust and Co-Development

A panelist aptly shared that “trust is easy to break, but it’s also easy to build — if you show up, stay transparent and truly value the voices at the table”.

Acknowledging the challenges of previous energy projects for Indigenous communities, Hydro-Québec — a Canadian provincial power utility owned by the Québec government — released its new Strategy for Economic Reconciliation and to Strengthen Relations with First Nations and Inuit. It focuses on better integrating the expertise and knowledge of First Nations and Inuit Peoples in future projects. Hydro-Québec also aims to co-develop projects with First Nations communities from day one to promote greater collaboration and involvement upstream of project planning and execution. This early engagement exists to build trust and consider worldviews and interests equally alongside Western perspectives, also known as two-eyed seeing. This ensures that environmental impacts are addressed and managed with Indigenous knowledge and priorities at the forefront, said Michael Sabia, the President and CEO of Hydro-Québec.

A practical action, organizations can take to foster trust is embedding Indigenous engagement across the entire organization, versus having a separate Indigenous relations team.

Redefining Participation: Equity and Self-Governance

Mohawk Council of Kahnawà:ke Chief Paul Rice emphasized that partnership equity, the percentage of a project owned by each stakeholder, is a valuable tool to build relationships between Indigenous communities and corporate partners in good faith. Specifically, the Council Chief recommended Indigenous communities hold a minimum of 50% equity in energy projects involving their land and resources. This aligns with the findings of a 2025 Fasken study titled Update on the Trends in Indigenous Equity Investments in Canada, which found that nearly two-thirds of projects announced between 2023 and 2025 feature at least 50% Indigenous ownership. By fostering equitable partnerships, corporations and other project financiers can ensure that Indigenous communities participate meaningfully in financial risks and rewards. This helps to tangibly correct historical injustices while enabling sustainable, long-term development.

Another theme throughout the conference was respecting and empowering self-governance.  Professor Joseph Kalt’s research on Indigenous governance at the Harvard Kennedy School emphasized that autonomy is the key to economic success. When communities control the resources on their lands and manage them autonomously, projects can be five times more likely to be successful in the long term. Prioritizing true partnership while respecting self-governance enables Indigenous communities to own, lead and benefit from major initiatives on their ancestral lands, while helping all partners de-risk projects through Indigenous knowledge and unlocking value.

Strategic Enablers: Policy and Inclusive Finance

The lasting impacts of colonialism, including policies like the Indian Act, continue to create financial barriers for Indigenous peoples, limiting their ability to participate in natural resource and energy projects with long-term economic benefits. For example, the federal government holds legal title to all First Nations reserve lands, making it difficult for Indigenous communities to use their land as collateral to secure financing from private sector institutions.

The expansion of Canada’s Indigenous Loan Guarantee Program from CAD 5 bn to CAD 10 bn, announced in the 2024 federal budget, is a critical enabler for economic reconciliation. The loan guarantee program helps address this by assuring lenders that the federal government will repay the loan if Indigenous borrowers are unable to do so. These policy tools reduce the cost of capital for Indigenous communities and encourage equity ownership, making it feasible and economically valuable for communities to participate in large-scale energy and natural resource projects.

Looking Ahead

The conference closed with a call for national cooperation that unlocks value through equitable Indigenous participation in Canada’s economy. From energy to critical minerals to Arctic sovereignty, Canada’s future will be more sustainable, equitable and prosperous if Indigenous communities are leading alongside industry and government. This requires capital, trust, respect for self-determination and long-term capacity building.

Conference organizers have shared their highlights here.

At Quinn+Partners, we are advancing our reconciliation journey and encouraging clients to take meaningful steps towards reconciliation. We welcome the chance to connect, share and learn together. Get in touch with us here.