Infrastructure Equity in Nation-Building: How Indigenous Organizations Can Secure Stake in Major Projects

In June 2025, the Building Canada Act received Royal Assent with a provision that fundamentally changed how Indigenous peoples participate in major infrastructure projects. The Act explicitly mandates Indigenous equity in nation-building projects, moving beyond consultation to actual ownership and economic participation.

What the Building Canada Act Changed

Previously, Indigenous participation in major infrastructure was typically limited to consultation and community benefit agreements. The Building Canada Act goes further. It requires that Indigenous peoples have meaningful equity stakes in projects that affect their territories or serve their communities.

This is not symbolic. Equity means ownership, governance participation, and economic returns. It means Indigenous organizations can own shares in infrastructure projects, sit on project governance boards, and benefit from project revenues.

Real-World Example: First Nations Infrastructure Investment

In May 2025, First Nations made a historic investment in Enbridge's BC natural gas system. This was not a consultation agreement or a community benefit package. It was a direct equity investment that gave First Nations ownership stake and governance participation in a major infrastructure project.

As one First Nations leader stated: "People often ask what economic reconciliation for Indigenous Peoples looks like. This is it." This investment model is now the template for how Indigenous organizations should approach major infrastructure projects.

How to Position Your Organization for Infrastructure Equity

1. Understand Your Territory and Infrastructure Needs

Identify major infrastructure projects that will affect your territory or serve your community. This includes energy projects, transportation infrastructure, water systems, and telecommunications. Map which projects align with your economic development priorities.

2. Build Financial Capacity

Equity participation requires capital. Indigenous organizations need to develop financial capacity to invest in projects. This might mean establishing investment funds, securing patient capital from government or philanthropic sources, or partnering with other Indigenous organizations to pool resources.

3. Develop Governance Expertise

Equity participation means board representation and governance involvement. Your organization needs people with infrastructure project expertise, financial acumen, and governance experience. This is not optional—project proponents will expect professional governance participation.

4. Engage Early in Project Development

Don't wait until a project is designed and approved. Engage during the planning phase when equity structures are being negotiated. Early engagement gives you influence over how equity is structured and what governance rights you receive.

5. Negotiate Strategically

Equity stakes should include: Ownership percentage, Board representation, Revenue sharing arrangements, Community benefit commitments, Environmental and social governance standards. Don't accept token participation. Negotiate for meaningful equity that reflects your organization's role and the project's impact on your territory.

Strategic Considerations

Infrastructure equity is a long-term investment. Projects typically operate for 20-50 years. Your organization should view equity participation as a wealth-building strategy that generates returns for decades. Also consider how infrastructure equity connects to your broader economic development strategy. A First Nation that invests in energy infrastructure, transportation, or telecommunications is building assets that support other economic activities.

Practical Next Steps

• Conduct an infrastructure audit: Map major projects in your territory and identify which align with your priorities.

• Assess your financial capacity: Determine what capital you can deploy for infrastructure investment.

• Build governance expertise: Recruit or develop people with infrastructure project and governance experience.

• Establish an investment strategy: Define how infrastructure equity fits into your economic development plan.

• Connect with other Indigenous organizations: Consider partnerships to pool capital and expertise.

The Bottom Line

The Building Canada Act creates a genuine opportunity for Indigenous organizations to build wealth through infrastructure equity. This is not consultation or community benefits—it is ownership and economic participation. Organizations that move quickly to build financial and governance capacity will capture the most significant opportunities.

XNM supports Indigenous organizations in developing infrastructure investment strategies, building governance capacity for project participation, and negotiating equity structures that maximize long-term returns.