As Canadians grapple with our country’s ongoing legacy of violently dispossessing Indigenous peoples of their lands and waters to make way for resource extraction, Canada’s largest public pension funds have an important role to play in the process of reconciliation. 

Indigenous rights are basic human rights 

The United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) enshrines the right to dignity, self-determination and equality for Indigenous peoples as an essential human right. It also recognizes the right to self-governance and explicitly requires Free, Prior and Informed Consent for activities that may affect Indigenous Peoples or their territories. 

In addition, the Truth and Reconciliation Commission Calls to Action call upon Canadian investors and businesses to commit to meaningful consultation, build respectful relationships and obtain the Free, Prior and Informed Consent of Indigenous peoples before proceeding with economic development projects. This is particularly relevant for resource extraction and land-use projects, as projects financed by pension funds can negatively impact Indigenous peoples’ lands and waters.

Indigenous rights are central to meaningful climate action

Indigenous communities have long-standing, sustainable relationships with their lands and waters, protecting vital ecosystems like wetlands and forests. Safeguarding Indigenous rights is key to preventing deforestation, land degradation and ecosystem destruction. Empowering Indigenous communities helps create more equitable and effective climate policies - even as Indigenous communities are disproportionately affected by the impacts of climate change. 

Few Canadian pension managers have committed to respect Indigenous rights

Yet Shift’s analysis reveals that only a handful of Canada’s largest pensions have taken steps to develop an Indigenous rights and reconciliation framework in their investment processes. 

Not only is respecting Indigenous rights a foundational principle for responsible investors in the 21st century, but failing to implement an Indigenous rights policy creates financial risks that jeopardize our retirement security – climate, regulatory, legal and reputational risks. You only have to look at the Coastal Gaslink fracked gas pipeline, which is co-owned by Alberta’s public pension manager and financed by Canada’s biggest financial institutions. Coastal GasLink violates Indigenous rights, works against Canada’s climate targets, and was fined repeatedly for construction activities that ignored environmental orders and put ecosystems at risk – all against the wishes of some Indigenous communities on whose land the pipeline was being constructed. 

Take action now: call on your pension fund to adopt a transparent policy to respect the rights of Indigenous Peoples in its investment decisions.

Not sure who manages your pension? Find out.