‘Economic Reconciliation’ Means Faster Approval For Extractive Projects
Corporate Canada insists that partnering with First Nations on new natural resources projects will bring prosperity to Indigenous communities and address the country’s long history of colonialism.
But there is also a simpler and more transactional reason that companies have for years embraced the idea of so-called “economic reconciliation”. When a natural resources project is able to bring on an Indigenous partner, it speeds up approval times and reduces political and regulatory risk.
That’s according to representatives of mining and fossil fuel companies who spoke candidly about the economic benefits of Indigenous partnerships during a recent economic reconciliation conference in Ottawa.