What
In December 2022, the Prime Minister of Canada announced $800 million to support up to four Indigenous-led conservation initiatives based on an innovative model called Project Finance for Permanence (PFP). The PFP model reflects targets from the Kunming-Montréal Global Biodiversity Framework, including commitments to protect and conserve 30% of lands and oceans by 2030, mobilize resources for biodiversity action from all sources, and prioritize Indigenous-led conservation.

Goal
This PFP model leverages government and private funding and supports large-scale, long-term conservation. PFPs bring together partners from Indigenous governments and communities, other levels of government, and the philanthropic community. A handful of PFPs are in implementation around the world, often with the support of major philanthropic organizations.

Recent activities
The Great Bear Rainforest, established in 2007, is now recognized as the world’s first PFP. Led by Indigenous communities, environmental groups, and philanthropic organizations, it covers 6.4 million hectares on British Columbia’s north and central coast. The 2007 agreement included $120 million in funding. The governments of Canada and British Columbia each contributed $30 million, and individuals and private foundations donated $60 million. Coast Funds, an arms-length fund administrator, manages the funds in support of Indigenous-led conservation and sustainable development. The partnership has grown to include additional Indigenous governments and communities, and philanthropic organizations.

Benefits
The Great Bear Rainforest PFP has generated a further $296.8 million in new investments, for a total investment of $404 million (to date) for Indigenous-led projects in the region. First Nations have also used these investments to acquire, expand, and create 123 local businesses, leading to the creation of 1,253 permanent new jobs. First Nation community members hold more than 960 of these jobs.

Lessons learned
Due to the success of the PFP model, negotiations are underway towards Indigenous-led PFPs in four key areas of Canada – all showcasing PFP use in different ecosystems and geographical locations:

• The Northwest Territories PFP, entitled “NWT: Land, Life, Future”, is led by approximately 30 Indigenous communities. This PFP could protect up to 2.5% of Canada’s terrestrial area. Ecological values include intact tundra and taiga-boreal forest, and rich diversity of wildlife including Barren Ground Caribou and Wood Bison.

• The Qikiqtani PFP is led by the Qikiqtani Inuit Association (QIA). The PFP seeks to responds to QIA ambitions for a regional governance model and new protected areas with up to 3.3% of Canada’s marine area in important habitats for overwintering and migratory marine species including whales, marine mammals, fishes, birds and polar bears.

• The Great Bear Sea PFP is led by 17 First Nations on the Pacific Coast with territories in the Northern Shelf Bioregion. The PFP seeks to build on terrestrial experience with the nearby Great Bear Rainforest PFP and protect 0.24% of Canada’s marine area. This work supports the implementation of the Marine Protected Area Network Action Plan endorsed by First Nations, Canada and BC in February 2023.

• The Omushkego Wahkohtowin PFP is led by Mushkegowuk Council, which represents seven First Nations, and encompasses large areas of the Hudson Bay Lowlands, Hudson Bay and James Bay in Ontario and Nunavut. The PFP could lead to the protection of 1% of Canada’s marine area, and up to 2% of Canada’s terrestrial area within the Hudson Bay Lowlands – one of the world’s largest peatlands that stores billions of tonnes of carbon.

Synergies with other Points of the 10 Point Plan
6 – Philanthropy
8 – Access to funds

Relevant links and resources
Protecting more nature in partnership with Indigenous Peoples | Prime Minister of Canada (pm.gc.ca): https://www.pm.gc.ca/en/news/news-releases/2022/12/07/protecting-more-nature-partnership-indigenous-peoples

Project Finance for Permanence: Support for Indigenous-led conservation initiatives – Canada.ca: https://www.canada.ca/en/environment-climate-change/services/nature-legacy/about/project-finance-for-permanence.html