By Harold Calla, The Star Phoenix | Published February 21, 2026
Bringing provincial and federal leaders together with Indigenous leaders can be a pivotal step in charting the path forward. It can be historic, if the will is there.
Canada has never had a first ministers’ meeting with Indigenous leaders as full economic participants. The federal-provincial-territorial first ministers’ meeting with First Nations, promised by Prime Minister Mark Carney for early 2026, can change that.
Achieving Canada’s potential for sustainable economic growth means recognizing Indigenous Peoples not only as rights holders to be consulted, but as equity participants in projects whose ownership aligns with Indigenous, governmental, and investor interests.
It’s not just the future of Indigenous Peoples in Canada that depends upon a shift in dialogue and action, but the prosperity of Canada itself. The path to retooling the economy is clearer when it starts with meaningful participation with Indigenous communities. And that calls for a change in approach. To achieve its goals, Canada needs to support administrative and fiscal capacity building in Indigenous communities.
Bringing provincial and federal leaders together with Indigenous leaders can be a pivotal step in charting the path forward. It can be historic, if the will is there.
First Nations have proven that when our rights and interests are respected in the development of major projects, good things happen. Success is most likely when Indigenous engagement begins at a project’s conceptual stage and continues throughout planning, approvals, and implementation. A more prosperous future depends on cooperation and collaboration.
Recent examples of getting it right include Cedar LNG, which leverages Canada’s natural gas supply and British Columbia’s growing infrastructure to produce LNG for overseas markets. It’s the world’s first Indigenous majority-owned LNG project and provides opportunities for both the Haisla Nation and the region.
Major projects like Cedar LNG call for the alignment of rights recognition, economic growth strategy, and intergovernmental coordination. A joint first ministers’ meeting with First Nations leaders is an ideal time to strengthen that alignment.
Like 76 other First Nations across Canada, Haisla Nation has certification from the First Nations Financial Management Board (FMB). This affirms that a First Nation meets rigorous international standards in financial performance, management practices, and accountability. It demonstrates to investors it’s a reliable partner. Certification is also a pathway to financing at competitive rates from the First Nations Finance Authority (FNFA). In the case of Haisla Nation, the FNFA provided $350 million in financing for their ownership in Cedar LNG.
Supports from the First Nations Fiscal Management Act (FMA) institutions, which also include the First Nations Tax Commission and the First Nations Infrastructure Institute, enable a chief and council to move forward on their community’s chosen path to economic development. We need look no farther than the success of such Indigenous-led solutions, and others like the Lands Advisory Board and Indigenous health authorities, to see results in communities that also benefit the country.
While a variety of factors shape a First Nation’s own-source revenue (OSR, monies earned through Nation-owned businesses or collected through local taxation), recent research involving 47 First Nations that obtained FMS Certification in 2021 shows that First Nations’ OSR in the three years following certification is, on average, 94.8 per cent higher than in the three years prior, an increase of approximately $37,083 per capita.
There remain many challenges in First Nations’ relationship with Canada. But this shouldn’t stop us from moving forward together to support a new vision for the Canadian economy. First Nations are already creating opportunities in economic development. We’re working together to create wealth for our communities. FMA institutions are here to support that.
Economic self-determination is the foundation of the success we’ve achieved so far. Research shows that when Indigenous communities have the tools to develop their economies, they achieve better outcomes than are achieved through government programs.
So how can government build on this success? For starters, Canada needs to do more to empower First Nation organizations and federal departments to address barriers to economic participation. That includes doing more to close the gap in access to capital.
I’m encouraged about efforts to bridge this gap, such as the new Indigenous Loan Guarantee Program. The government should also support the development of an institutional framework for Indigenous economic development. Promising proposals are on the table, including the Indigenous Development Finance Organization to address gaps in access to capital, and the Indigenous Investment Commission to provide asset management services.
The FMB and our partners put forth these proposals to create economic opportunity. Bringing the proposals to life means driving prosperity not only for Indigenous Peoples, but for all Canadians.
The upcoming first ministers’ meeting can help fast-track these proposals and advance economic reconciliation after decades of stagnation. Leaders can commit to investing in a transition from the colonial system of managing poverty to a framework that supports First Nations in generating wealth.
Indigenous Peoples and all Canadians need leaders to seize this opportunity and make real change happen in 2026.