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Indigenous Communities Call on Canada’s Capital Markets to Help Rebuild Economies

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Indigenous Communities Call on Canada’s Capital Markets to Help Rebuild Economies

Investment Executive | Melissa Shin | Sep 19, 2022

As the country prepares to mark the second National Day for Truth and Reconciliation, Indigenous communities are calling on Canada’s capital markets to support the rebuilding of Indigenous economies.

  • In June, more than 20 Indigenous organizations released the National Indigenous Economic Strategy, which contains immediate actions industry, governments and institutions can take to support Indigenous prosperity.
    • The strategy argues that Indigenous prosperity is tied to Canada’s prosperity, citing 2016 research from the National Indigenous Economic Development Board that found economic marginalization of Indigenous peoples costs the economy $27.7 billion each year, or 1.5% of GDP.
  • Actions specific to the financial services industry include mandating the disclosure of Indigenous procurement and requiring that publicly traded companies report on Indigenous employment and contracting.
  • Mark Sevestre, founding member and senior advisor to the National Aboriginal Trust Officers Association (NATOA), said institutional investors — Indigenous and non-Indigenous alike — also are demanding that companies improve their relationships with Indigenous communities. NATOA advised on the Indigenous economic strategy.

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  • In June 2021, a bill stating that all Canadian law must be consistent with the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) received royal assent. The law requires an action plan to be developed within two years of the bill’s passage.
    • Since November 2021, Bull has sat on the Indigenous advisory council to Toronto-based Canadian National Railway Co. “To me, it’s an opportunity for transformational change because you’re bringing Indigenous leaders into your boardroom,” she said.

Tabatha Bull, president and CEO of the Canadian Council for Aboriginal Business (CCAB):

Indigenous people were intentionally excluded from the economy in Canada.  Because that exclusion took place over centuries, remedying the situation is going to take more than decades, and we can’t wait any longer.

Continue to the full article –> here


NCFA Jan 2018 resize - Indigenous Communities Call on Canada's Capital Markets to Help Rebuild EconomiesThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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  • Source: https://ncfacanada.org/indigenous-communities-call-on-canadas-capital-markets-to-help-rebuild-economies/
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