Services For Indigenous-Led Project Finance for Permanence Analysis

Adapted from the financial sector, the Project Finance for Permanence (PFP) approach is based on partners designing conservation and related community development initiatives that are secured with long-term, stable funding. The approach can help secure biodiversity for future generations at an ambitious scale, and ensures that outcomes are locally led, supported by communities and nations, and forms the basis for more sustainable economies. Three of the proposed PFPs require participation and inclusion from the Canadian Wildlife Service (CWS)-Northern Region.

The three proposed PFPs are: NWT, Qikiqtaani Inuit Association and Hudson-Bay Lowlands. NWT PFP is at the stage of drafting a PFP agreement; the Qikiqtaani Inuit Association and Hudson-Bay Lowlands PFPs are not as far along as the NWT PFP. ECCC coordinated a three-department Memorandum to Cabinet and subsequent Treasury Board Submission to secure the funding and authorities required to negotiate the PFPs. ECCC’s primary goal is to enable a large contribution towards meeting Canada’s 25% by 2025 and 30% by 2030 targets for protected and conserved areas. ECCC’s goals also include realizing biodiversity outcomes and contributing to Indigenous reconciliation.

The NWT PFP target is to have a final agreement approved (in principle) by decision-makers by July 2024. The Qikiqtaani PFP (Q-PFP) target date for a final agreement in June 2024, with specific ECCC-CWS commitment to have a draft Agreement in Principle in place for the terrestrial portions of Qikiqtait (part of the Q-PFP) by summer 2024. The timelines for ECCC to submit a Memorandum to Cabinet and participate in detailed discussions on the Strategic Plan and Financial Plan, leading a whole-of-government approach with other departments and agencies, and obtain policy and financial approvals from central agencies are very ambitious. The objective of the required analysis is to ensure northern program perspectives are integrated into ECCC and whole-of-government PFP policy approaches, and final PFP agreement negotiations with indigenous partners. . For additional information, interested suppliers should contact Michael Caoagas at; michael.caoagas@ec.gc.ca