Inclusive Indigenous Ownership
Many of our communities are suffering. 53% of First Nations children live in poverty on reserve. We will never break the cycle without doing something BIG. Majority ownership of TMX is an opportunity for many of us to rise above poverty and begin healing.
Project Reconciliation is committed to help communities gain equal footing. We will not allow outside interests to separate us into ‘haves’ and ‘have-nots’. That’s why we believe that all Indigenous communities in western Canada deserve their fair share of the generated wealth, not just communities directly on the pipeline route. It’s up to us to share our resources’ prosperity, just as we share the responsibility for the health of our traditional lands.
The Indigenous Sovereign Wealth Fund
The Indigenous Sovereign Wealth Fund (ISWF) was created to grow and distribute funds earned from TMX operations to Indigenous communities in western Canada. Fashioned like pension funds and other sovereign wealth funds around the globe, the ISWF is 100% Indigenous-owned, capable of creating sustainable wealth for generations to come.
The ISWF will be invested with a focus on the global energy transition; repurposing the natural oil and gas found beneath our traditional territories into financial wealth for our Nations, in this new low carbon economy. Our fund will build a better future for future generations.
The Nations closest to the TMX pipeline route will receive a higher equity stake. We anticipate the breakdown of our 51% ownership of TMX to reflect: 70% BC, 20% AB and 10% SK. Through the Indigenous Sovereign Wealth Fund, all Indigenous communities in Western Canada will benefit for generations to come.
Western Canada’s 340 Indigenous communities.
205 in British Columbia, 75 in Saskatchewan, and 56 in Alberta; all owners and beneficiaries in our proposed collective model.