We know you have questions

We are listening

Here you’ll find answers to some of the more commonly asked questions. Though we kept it short for the purposes of this website, we welcome the opportunity to provide more detailed answers, respond to additional questions and hear to your comments.
Please reach out to us at info@projectreconciliation.ca
FAQs

Is Project Reconciliation a Canadian government initiative?

Project Reconciliation is NOT a government of Canada initiative.
Project Reconciliation, ISWF and RETI are fully private entities.
Project Reconciliation was created by Indigenous people for Indigenous people.

With the world moving away from fossil fuels, why would Indigenous communities want to own Trans Mountain Corporation or the Expansion Project? Is this a smart investment?

The expansion project is supported by 20-year commitments from the shippers (companies who are moving their oil through the pipeline) which allows for the financing and repayment of $15.3B and still provide revenue to the Indigenous communities.

There is also a need for oil and gas beyond fossil fuels to continue to produce high-quality plastics through the petrochemical industry for our vehicles, technology, medical equipment, etc.

As well, the revenue generated from the ownership of this asset will continue to grow through the Indigenous Sovereign Wealth Fund2 (ISWF2) and provide funding for net zero energy transition projects.

Summary of Indigenous Economic Participation

An inclusive framework to move towards Indigenous economic sovereignty.

Project Reconciliation is facilitating the 100% Indigenous-owned acquisition of Trans Mountain Corporation, in its entirety, including the Trans Mountain pipeline – at no equity requirement or liability for Indigenous communities.

Allocation Model

Project Reconciliation’s proposal is open to participation from all 129 Indigenous groups impacted by the TMX pipeline and marine shipping routes.

The proposal also recognizes the varying impacts on individual communities, including those that are located closest to TMX. These varying impacts are reflected in different share classes that are available to Indigenous groups participating through equity, with share classes initially allocated according to (1) proximity to the pipeline, (2) population and (3) base leveler.

Governance & Communications Process

Project Reconciliation is governance ready

Project Reconciliation’s proposed Limited Partnership (LP) structure would eliminate financial liability to Indigenous community partners, including exposure to operational risks (catastrophic failure, spills, leakages).

The Board of Directors, approved by Indigenous Unit Holders, will be responsible for managing the business and affairs of Trans Mountain Corporation in the best interests of the Indigenous communities they represent. This nomination and approval process ensures the right balance between required skills and unit holder representation on the TMC board.

Environmental Stewardship and Indigenous Knowledge

Environmental stewardship is an important component of Project Reconciliation’s overall proposal which includes using revenues from TMC to invest in clean energy and renewable technologies projects via the low carbon Indigenous Sovereign Wealth Fund (ISWF2).

 

The Board of Directors, collectively elected by participating Indigenous groups, would have oversight over standards and environmental protections.

Project Reconciliation’s News and Media Coverage

A summary of recent press releases and media coverage

October 13, 2021

Newswire Press Release Reconciliation Energy Transition Inc. (RETI) and Shell Canada Products execute MOU to co-develop Shell’s anticipated Polaris Carbon Capture and Storage (CCS) project.

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October 13, 2021 

BNN Bloomberg   Steve Mason speaks on PRI’s Reconciliation Energy Transition’s (RETI) partnership with Shell Canada on their Carbon Capture and Storage (CCS) Polaris Project.

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October 1, 2021  

BNN Bloomberg  PRI Chairman, Robert Morin, speaks to the anticipated economic and social benefits of 100% Indigenous ownership of Trans Mountain pipeline.

Watch video

September 30, 2021

Newswire Press Release  PRI introduces Reconciliation Energy Transition Inc. (“RETI”), created to further Indigenous partnerships in Canada’s energy transition projects.

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June 8, 2021

BNN Bloomberg’s Robert Tuttle  Indigenous Group Seeks Full Ownership of Trans Mountain Pipeline

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February 19, 2021

BNN Bloomberg  PRI’s Managing Director, Steve Mason speaks on launch of PRI’s Indigenous Sovereign Wealth Fund

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February 18, 2021  

BNN Bloomberg’s Tara Weber speaks to Amanda Lang on the launch of PRI’s Indigenous sovereign Wealth Fund

Watch video

September 29, 2020

The Canadian Press’ Dan Healing  Lack of capital for major project investments cited by Indigenous business panel

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November 4, 2019

Global News’ Jill Croteau  First Nation chiefs work to defeat on-reserve poverty, pitch pipeline investment at Calgary summit

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November 4, 2019  

BNN Bloomberg  PRI’s Delbert Wapass speaks on what Indigenous ownership of Trans Mountain pipeline could mean to Indigenous communities

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July 24, 2019

CBC News’ Sarah Riger  Indigenous-led group submits unsolicited bid to buy Trans Mountain pipeline

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May 4, 2019

The Province (Postmedia) Opinion/Editorial  Native ownership of Trans Mountain pipeline would replace First Nation poverty with prosperity

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April 14, 2019 

The Record Editorial    Pipelines and Reconciliation can go together

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March 28, 2019

Financial Post’s Dan Healing   Potential Trans Mountain pipeline buyer says it agrees with federal principles

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March 28, 2019

Globe and Mail’s Editorial   A First Nation’s-led majority stake in Trans Mountain would be a brave new kind of reconciliation

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March 28, 2019

BNN Bloomberg  Amanda Lang’s Takeaway   Unclear how Project Reconciliation could help get Trans Mountain actually built

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March 28, 2019

BNN Bloomberg  PRI’s Delbert Wapass talks about how First Nations groups are within ‘striking distance’ of making Trans Mountain bid

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March 28, 2019

The Globe and Mail’s Jeffrey Jones  First Nations-led group planning bid for majority stake in Trans Mountain pipeline

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March 19, 2019

University of Calgary’s Jennifer Allford   Haskayne School of Business featuring Project Reconciliation’s Gregory John and Harrie Vredenburg

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March 18, 2019

CBC news    Letter from Finance Minister Bill Morneau said talks would be based on 4 principles

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