WINNIPEG, April 16, 2024 – A new report released by the Frontier Centre for Public Policy titled “ESG and the New Eco-Colonialism – Choosing Indigenous Equity Ownership over ‘Stakeholder Capitalism’” sheds light on the implications of ESG (Environment, Social, and Governance) investing for Indigenous communities. Authored by research associate Joseph Quesnel, the report delves into the growing interest of Indigenous groups in ESG investing and its impact on Indigenous equity ownership.
ESG investing standards have gained significant traction worldwide, with major institutional investors and pension funds striving to meet these criteria. However, the report highlights concerns over the lack of Indigenous input and approval in developing and implementing ESG standards and metrics.
Indigenous communities have expressed interest in ESG investing, but it has been discovered that ESG standards have been established without Indigenous consultation. Some Indigenous organizations are seeking to incorporate more Indigenous input to salvage ESG, while others are advocating for abandoning ESG altogether.
The report also addresses ESG’s hostility towards the energy sector, which often conflicts with the interests of First Nations seeking to develop energy sources freely. Additionally, it examines the impact of ESG-influenced divestment campaigns on Canada’s Arctic Indigenous communities, leading to a lack of investment in essential infrastructure.
In response to these challenges, the report argues that rather than attempting to fix ESG, and to ensure Indigenous input is respected and full equity ownership is attained, Indigenous communities should focus on meaningful direct engagement with resource companies.]
Download report in PDF format here. (20 pages)
For media inquiries, please contact:
Joseph Quesnel
Senior Research Fellow
Frontier Centre for Public Policy
joseph.quesnel@fcpp.org
David Leis
VP Development and Engagement
david.leis@fcpp.org
604-864-1275
About the Frontier Centre for Public Policy
The Frontier Centre for Public Policy is an independent, non-partisan think tank that conducts research and analysis on a wide range of public policy issues. Committed to promoting economic freedom, individual liberty, and responsible governance, the Centre aims to contribute to informed public debates and shape effective policies that benefit Canadians.
