By Harold Calla, Calgary Herald | Published November 22, 2025
Canada is at an inflection point. The job facing the federal government, the provinces and the private sector is to urgently restructure Canada’s economy — a need driven by new tariffs and ongoing tariff threats from the U.S., our biggest trading partner. We need to quickly become more independent, resilient and sustainable.
The challenge is huge, but the moment is also an opportunity.
The political will to unleash major development projects and leverage our natural resources for opportunities in new markets has never been stronger. It’s a bold vision, full of potential. It’s also a goal that cannot be realized without meaningful Indigenous participation. And Indigenous participation benefits all Canadians.
Make no mistake, Indigenous communities are open for business. We had a thriving Indigenous economy before colonization and have worked hard to gain a foothold in the mainstream economy after being separated from it by the Indian Act. Across Canada, major economic development projects are taking shape.
Respecting Indigenous rights and removing barriers to economic inclusion is not only an economic imperative but also a strategic advantage that attracts investment.
Indigenous lands are critically important to proposed major projects across industries, from natural resource development and telecommunications to transportation. Moving forward requires meaningful consultation with Indigenous Peoples, their participation, and respect for Indigenous rights that are protected in law.
Free, prior and informed consent is a legal and moral standard upheld in Canadian courts. It is also a framework for successful partnerships and building prosperity. It leads to stronger, more sustainable development outcomes.
An excellent example of what is possible is the Cedar LNG project in British Columbia. Cedar LNG leverages Canada’s abundant natural gas supply and B.C.’s growing LNG infrastructure to produce Canadian LNG for overseas markets. It’s the world’s first Indigenous majority-owned LNG project and will have one of the cleanest environmental profiles in the world. Cedar LNG provides incredible opportunities for both the Haisla Nation and the region.
First Nations invest the financial benefits of economic participation in our communities, our regions and Canada. Increasing opportunities for meaningful participation will create financial and employment opportunities for all Canadians — and do much to advance economic reconciliation.
I’m encouraged to see that a majority of Canadians believe we need to do more to advance reconciliation and recognize their own individual role in that process. According to the 2025 Confederation of Tomorrow survey, about seven in 10 Canadians believe individuals like themselves have a role to play in efforts to bring about reconciliation between Indigenous and non-Indigenous people.
To achieve more successes like Cedar LNG, barriers to Indigenous participation must be removed. That includes addressing the gap in access to financing. We’ve seen promising moves in this direction, such as the federal government’s new Indigenous Loans Guarantee Program. But there is more work to do. Eventually, we would like to see the financing that supports First Nations’ equity positions come through an Indigenous-led finance organization. This would ensure that decisions are independent of the Crown and move at the speed of business.
Another challenge is that many Indigenous communities, while they are rights holders, lack experience in dealing with the proponents of major projects and don’t have the resources to do the evaluation needed for them to give informed consent. As Indigenous Peoples, we need to increase our administrative capacity so we can sit at the tables making decisions around this renewed economy, and consider issues around economic participation, equity positions and project approvals.
Support for Indigenous-led capacity-building opportunities for First Nations will help projects achieve informed consent.
Indigenous inclusion is essential to a restructured Canadian economy that is more resilient, sustainable and inclusive. This vision for a renewed economy will not be realized without Indigenous participation.
The benefits of getting this right include more economic growth and better environmental stewardship. Getting it wrong means legal challenges, project delays and the continued economic marginalization of Indigenous Peoples — with all the costs that go with that.
A mine will open and a mine will close. It’s in between that we can generate wealth.
Let’s work together to make that happen, for the benefit of all Canadians.
Harold Calla is Executive Chair of the First Nations Financial Management Board.