Have you added
an ‘I’ to ESG?
The 92nd call to action in the Truth and Reconciliation Report calls on businesses
in Canada to adopt the UN Declaration on the Rights of Indigenous Peoples as a reconciliation framework and apply it to their corporate policy and operations.
MORE FOOD FOR THOUGHT
TALK TO OUR TEAM
ESGI
Many organizations are heeding this call by adding
an ‘I’ — for Indigenous — to their environmental, social and governance (ESG) efforts. These ESGI strategies include involving Indigenous communities in projects that may impact use and access to lands and resources, electing Indigenous people into senior roles and executive board positions, and establishing supply chain and procurement contract partnerships with Indigenous-led businesses.
First, let’s talk money.
Emissions reductions by sector
Now is the time to assess where you are on the pathway to net zero.
Cherie Brant
View bio
Perspectives on First
Nations issues and
Canadian energy
projects
Leading at the
crossroads:
Indigenous women
leaders on the fight
for an equitable future
The whole
world is a story:
In conversation
with Five Little Indians author Michelle Good
CBrant@blg.com
T 416.367.6570
Partner
TMurray@blg.com
T 613.787.3548
Partner
Tiffany Murray
NAndre@blg.com
T 514.954.3152
Partner
Nadir André
TALK TO OUR TEAM
MORE FOOD FOR THOUGHT
View bio
View bio
Read now
Read now
Read now
MORE
ARTICLES
TALK
TO US
Read now
Show us the money: Net zero financing for Canadian Businesses
Read now
Show us the money: Net zero financing for Canadian Businesses
View bio
ARoss@blg.com
T 403.232.9656
Partner
Alan Ross
JCocker@blg.com
T 416.367.7283
Partner
Jonathan Cocker
View bio
If you want to invest, your Indigenous
partner will need access to financing and
adequate net returns for participation.
Indigenous communities
cannot self-fund their
participation in industry-led
approvals, permits and
other regulatory processes.
To assess opportunities,
communities require cost
recovery mechanisms so
they don’t pay out-of pocket
for advisors.
Employment or training opportunities must include additional funding for a skills assessment, so that positions can be filled with trained members, with a focus on retention programs to build a strong, resilient workforce.
Ensure you carry out a historical analysis to assess your duty to consult obligations as early as possible. Governmental bodies and decision makers who hold the legal obligation to satisfy the duty to consult need to be encouraged to be more transparent in their assessments. Ensure you’re dealing with all rights holders at the outset so that you can mitigate any delays to your approvals in the future. Consultation obligations can affect future financing if not properly dealt with.
Do your homework.
Finally, build a team.
Work with Indigenous advisors who have lived experience and can be a bridge to help you achieve your ESGI goals.
You can transform how you
create value. Make 2023 the
year you add an ‘I’ to ESG.
of companies publicly disclose a reconciliation
action plan*
19
%
38
%
of companies publicy disclose policies on Indigenous relations*
* Source: PwC 2023 Canadian ESG Reporting Insights
This pledge will have real impacts on business as usual at home. Legislative changes, stricter reporting, penalties and incentives — particularly tax credits — will affect every business, from big banks to the corner store.
This pledge will have real impacts on business as usual at home. Legislative changes, stricter reporting, penalties and incentives — particularly tax credits — will affect every business, from big banks to the corner store.
Do your homework.
Ensure you carry out a historical analysis
to assess your duty to consult obligations as early as possible. Governmental bodies and decision makers who hold the legal obligation to satisfy the duty to consult need to be encouraged to be more transparent in their assessments. Ensure you’re dealing with all rights holders at the outset so that you can mitigate any delays to your approvals in the future. Consultation obligations can affect future financing if not properly dealt with.
Indigenous communities cannot self-fund their participation in industry-led approvals, permits and other regulatory processes. To assess opportunities, communities require cost recovery mechanisms so they don’t pay out-ofpocket for advisors.
If you want to invest, your Indigenous
partner will need access to financing and
adequate net returns for participation.