With ownership comes economic prosperity, decision-making, environmental stewardship, and community oversight as true partners in energy transition and infrastructure projects in Canada.
An empowering framework of partnership to foster economic independence and strengthen environmental stewardship for Canada’s Indigenous Peoples
Bridging the Gap
Facilitating a pivot in Canada’s resource and infrastructure ownership, Project Reconciliation (PRI) seeks to bridge the prosperity gap between Indigenous communities and non-Indigenous people.
A Future Long Overdue
Indigenous Ownership of Canada’s resource infrastructure is long overdue. We envision a future where Indigenous ownership is fully integrated into Canada’s investment in, and development of, emerging low-carbon energy transition and infrastructure projects.
The Right Approach
Our model provides the right approach. Project Reconciliation is ready to facilitate and manage the purchase of 100% of Trans Mountain Corporation by all participating Indigenous groups.
All while facilitating Canada’s transition from fossil fuels to low-carbon energy.
All while integrating corporate best practices and Indigenous knowledge of environmental stewardship.
All while having a place at the decision-making table and creating sustainable revenue for Indigenous communities now, and for generations to come.
100% Indigenous Ownership in 100% of Trans Mountain Corporation
Indigenous ownership means Trans Mountain Corporation (TMC) operations will:
- have Indigenous governance leadership through the TMC Board of Directors
- embrace the highest environmental standards with Indigenous traditional knowledge
- provide Indigenous access to revenue-streams from today’s fossil fuel industry to invest in tomorrow’s energy innovations
No up-front equity requirement by participating Indigenous groups
Project Reconciliation will finance the acquisition entirely through issuing project-based, non-recourse debt. This acquisition will reimburse Canada’s taxpayers for their cost to purchase TMC.
No financial liability
The Project Reconciliation model eliminates the financial liability recourse back to Indigenous community partners, including exposure to operational risks (i.e., catastrophic failure, spills, leakages, etc.)
Owners – not Operators
Indigenous communities will own 100% of Trans Mountain Corporation (TMC). As owners, they will appoint and/or elect a Board of Directors with diverse backgrounds and qualifications whose responsibility is to manage and direct the business and affairs of the company. We will not be seeking a new operating partner. We recognize TMC already has industry leading pipeline expertise and operating standards, having safely operated for nearly 70 years, thus TMC will remain the operator and will report to the Board.
What’s in it for Project Reconciliation?
Project Reconciliation will facilitate this unique and highly complex transaction and will assist in the financial and technical administration of the ownership partnerships, as needed. On successful completion of the acquisition, Project Reconciliation would earn annual management and administrative fees of 0.33% (~$5 million) of the pipeline’s annual $1.5 billion in EBIDTA.