Drumbeats - Canadian Indigenous Investment Podcast

Ontario is doubling its transmission grid by 2040 through Indigenous equity partnerships - and doing it faster than jurisdictions still treating Indigenous engagement as compliance.In this episode of Drumbeats, Matthew Jackson, Vice President of Indigenous Partnerships and Business Development at Hydro One Networks Inc., reveals how Canada's largest transmission company completely transformed its approach to Indigenous partnerships. The result? First Nations are now actively advocating to government for Hydro One's transmission projects in their territories.Matthew leads partnership strategy at Hydro One, which operates over 90% of Ontario's transmission infrastructure across a territory five times the size of the United Kingdom. With a multi-billion-dollar capital investment programme and 14 transmission projects underway, Hydro One has implemented 50-50 equity ownership structures with Indigenous communities - proving that genuine economic

How do indigenous communities actually access Europe's £400 billion sustainable bond market? Part 2 provides the implementation roadmap.Aude Rajonson from London Stock Exchange Group explains the preliminary steps debut issuers must take: creating sustainable bond frameworks with trusted advisers, identifying community priorities that align with ICMA principles, and engaging European impact investors who control 90% of global sustainable bond fund assets.The flexibility is remarkable. Investment grade and high yield both qualify. Canadian dollars are accepted. Tenors are agnostic. The requirement is adequate disclosure in your prospectus for the investor base you're targeting.Europe sits at the forefront of sustainable finance with sophisticated appetite for social and environmental outcomes. For indigenous communities addressing infrastructure gaps with measurable impact, this episode provides the step-by-step guidance for accessing concentrated European capital.Essential listening for indigenous communities exploring international markets and institutional investors evaluating partnership opportunities.

The London Stock Exchange's sustainable bond market represents $400 billion in securities across 16 currencies, serving 1,200+ debt issuers from 90+ countries. But can Canadian Indigenous communities actually access these markets?In this first of two episodes, Aude Rajonson, Head of Fixed Income Origination at the London Stock Exchange, answers this question definitively. She explains how the London Stock Exchange's sustainable bond market works for debut issuers.We asked the critical questions: What's the minimum deal size? Do you need ratings? Can you issue in Canadian dollars? The answers remove common barriers. The London Stock Exchange has no minimum size requirement - $10 million private placements to $500 million public benchmarks all qualify. Canadian dollar issuance is fully supported. Ratings are common but not mandatory. Fee structure is upfront only, no annual costs.Beyond practical access, Aude explains how the sustainable bond market evolved over ten years from pure green bonds to include social bonds (healthcare, education), sustainability-linked bonds, and innovative structures responding to community needs.Part 2, which releases next week, explores specific innovations like blue and green bonds and the practical steps for debut issuers to access these markets.Essential listening for institutional investors with sustainable finance mandates and Indigenous communities exploring international capital markets.

In this landmark episode of Drumbeats, we step beyond Canada for the first time to explore how Canadian Indigenous partnership models are transforming investment approaches worldwide. Juan Dumas, co-founder and partner at Meliquina, shares extraordinary insights from mediating disputes across Latin America - revealing patterns about project risk that fundamentally challenge conventional investor thinking.Juan's career began in 1999 mediating environmental and social disputes in Argentina before moving to Ecuador, where he spent years resolving conflicts between development finance institutions, energy companies, and Indigenous communities. Working on renewable energy projects across Guatemala, Mexico, and Honduras, he encountered a pattern that would reshape his entire career: intense community opposition to projects with minimal environmental impact. When Juan asked community leaders privately whether they would build these projects themselves, every single one said yes.The conclusion was unavoidable: communities weren't opposing projects because of environmental concerns - they were frustrated about being excluded from economic opportunities happening on their own territories. This realisation led Juan and his partner Michelle Haig (formerly in private equity renewable energy investment) to establish Meliquina, applying Canada's equity partnership model to Latin American renewable energy development.For institutional investors evaluating Canadian opportunities - or infrastructure projects anywhere with Indigenous considerations - this conversation provides essential strategic intelligence. Juan's argument is compelling: when presented with equity partnerships, investors should ask "how well was this partnership structured?" because well-designed community involvement from scratch represents the strongest possible indicator of project success.Links mentioned in the episode:Drumbeats with Matt Jamiesonhttps://www.youtube.com/watch?v=lzlmth1MWG0UK PACThttps://www.ukpact.co.uk/

Mark Magnacca and co-host Rob Brant analyse Canada's Prime Minister Mark Carney's first federal budget hours after delivery, focusing on Indigenous-specific provisions and infrastructure investment opportunities for UK and continental European investors.Rob details three critical Indigenous economy initiatives: legislation enabling First Nations Finance Authority to lend directly to special purpose vehicles, building on their recent $500 million bond raise; pilot bonding programmes helping Indigenous contractors access defence procurement despite Indian Act collateral barriers; and mechanisms allowing First Nations to monetize transfer payments for capital investments.The budget positions Canada to attract a trillion dollars in private capital over five years through doubling non-US exports, establishing a Critical Minerals Sovereign Wealth Fund, increasing defence spending substantially, and embedding Indigenous Advisory Council oversight in the Major Projects Office.For institutional investors seeking practical intelligence on Canadian project finance and Indigenous partnership structures, this episode provides essential analysis connecting budget policy to actual deal flow. Subscribe to Drumbeats for continuing coverage as Carney's provisions translate into investable opportunities across Canadian sectors.Links:The Globe and Mailhttps://www.theglobeandmail.com/politics/article-carney-federal-buget-2025-deficit/Andrew Coynehttps://www.theglobeandmail.com/canada/video-opinion-andrew-coyne-says-carneys-budget-misses-the-mark/Shannon Proudfoothttps://www.theglobeandmail.com/politics/opinion/article-federal-budget-2025-carney-manifesto-of-no/Campbell Clarkhttps://www.theglobeandmail.com/politics/opinion/article-federal-budget-2025-carney-liberals-didnt-meet-expectations/Adam Radwanskihttps://www.theglobeandmail.com/business/article-carney-federal-budget-2025-climate/Financial Timeshttps://www.ft.com/content/f67f453c-ff20-4991-9df4-7bfeb9cefacfThe Wall Street Journalhttps://www.wsj.com/economy/canada-delivers-targeted-spending-public-sector-job-cuts-to-jolt-economy-98a3a10a

In this episode, Mark Magnacca and co-host Rob Brant are joined by Michael McPhie, Executive Chairman and Founding Partner at Falkirk Consulting. Michael previously served as President and CEO of the Mining Association of British Columbia, Chair of Ridley Terminals, and Chair of the British Columbia Institute of Technology. He explained how Indigenous partnership quality determines project velocity in Canadian resource development. Falkirk contributed to Osisko Development Corporation's $700 million Cariboo Gold Project environmental assessment, accomplished in three years instead of a decade or more, through engaging Indigenous communities from the beginning. Michael's insights are captured in "Weaving Two Worlds," co-authored with Christy Smith of the K'ómoks First Nation. The conversation explored why you cannot legislate trust but must build it through authentic relationships, and how Indigenous-company alignment with government accelerates regulatory approvals whilst removing political risks that damage project economics.To get a copy of Weaving Two Worlds: Economic Reconciliation Between Indigenous Peoples and the Resource Sector go to this link: https://a.co/d/crUvdlH

In this Drumbeats episode, Mark Magnacca and Rob Brant are joined by Dallas Smith, President of Na̲nwak̲olas Council and former Chair of Coast Funds. Smith shares his journey from growing up between urban Vancouver and his North Island community to becoming a leader in Indigenous governance and economic development. He reflects on the $435 million Coast Funds model that has protected 3.1 million hectares of the Great Bear Rainforest while generating lasting economic opportunities. The conversation explores Indigenous-driven tourism, the potential of nation-to-nation trade, and how Indigenous-led financing frameworks are shaping sustainable investment and prosperity for future generations.

In this episode, Mark Magnacca and co-host Robert Brant are joined by Catherine Pennington, Director of Indigenous Advisory Services at KPMG. Catherine shares her path from social work to the energy sector and explains how Indigenous relations are shaping the success of major corporate projects. She highlights KPMG’s Truth and Reconciliation Action Plan, and KPGM's services specializing in Indigenous equity, commercial structuring, and financing. Catherine also speaks to the increasing demand for skilled Indigenous relations professionals, the relevance of international models for Canada, and the vital role of Indigenous participation in infrastructure and energy projects, unlocking more than $30 billion in private investment.

In this episode of Drumbeats, hosts Mark Magnacca and Robert Brant speak with Bernd Christmas, KC, Principal at Bernd Christmas Law Group (BCLG). The conversation explores the historical and legal importance of Mi’kmaq treaty rights, beginning with the 1725 peace and friendship treaty with the British. Bernd reflects on the landmark Donald Marshall Jr. case, which affirmed Mi’kmaq commercial fishing rights and reshaped Indigenous–government relations in Canada.The discussion also highlights modern examples of Indigenous economic development, including the Squamish Nation’s $1.2–$1.5 billion Sen̓áḵw project in Vancouver, designed to address both growth and affordable housing for its members.

In this episode, hosts Mark Magnacca and Robert Brant are joined by Jean Paul (JP) Gladu, Board Member of the Indigenous Advisory Council and Principal of Mokwateh. JP shares his journey from his Anishinaabe roots in Thunder Bay to serving as President and CEO of the Canadian Council for Indigenous Business, where he advanced programmes that support Indigenous entrepreneurs.He speaks about his role on the Indigenous Advisory Council for the Major Projects Office, where he promotes Indigenous participation at the outset of major projects. JP highlights examples of effective collaboration, including Enbridge’s partnerships with First Nations in Alberta, and encourages international investors to work directly with Indigenous leaders to gain insight into local perspectives.This discussion provides a clear view of how Indigenous leadership continues to shape Canada’s business and resource development sectors.

In this episode, Mark Magnacca and co-host Robert Brant are joined by Bernd Christmas, KC, Principal at Bernd Christmas Law Group (BCLG). With nearly 30 years of experience as a practising Mi’kmaw lawyer, Bernd has represented First Nations in groundbreaking projects that are reshaping Canada’s economy.He shares insights from his recent and ongoing work, including billion-dollar negotiations in Ontario and major projects such as the Ring of Fire and the Port of Churchill. Bernd’s story reflects the growing influence of Indigenous nations in deal-making and the future of development across the country.

Our conversation explores Prime Minister Mark Carney's announcement of five nation-building projects generating $60 billion for the Canadian economy, supported by eleven Indigenous leaders with exceptional credentials appointed to the Indigenous Advisory Council. Rob details how these transformative initiatives, from LNG Canada's Phase Two expansion doubling liquefied natural gas production in Kitimat to the Darlington New Nuclear Project's small modular reactor development, create launching pads for equity ownership and responsible resource management through meaningful Indigenous participation.The five designated projects include LNG Canada's Phase Two in Kitimat, British Columbia, doubling production capacity; the Darlington New Nuclear Project in Clarington, Ontario, pioneering small modular reactor technology; the Contrecoeur Terminal Container Project expanding Montreal's port infrastructure; the McIlvenna Bay Foran Copper Mine Project in Saskatchewan; and the Red Chris Mine expansion in northwestern British Columbia. Each project embeds Indigenous economic participation as fundamental to approval and development processes.

Our conversation explores specific multi-billion dollar projects, including the Grays Bay Road and Port development and the Kivalliq Hydrofibre Link, designed to open mineral corridors and transform energy infrastructure. President Obed details how these nation-building initiatives create launching pads for natural resource extraction whilst maintaining environmental standards and Indigenous rights protection.Key insights include the strategic importance of Arctic sovereignty investments, the role of development corporations in facilitating partnerships, and how efficiency improvements in environmental assessments are accelerating project timelines without compromising standards. This conversation reveals why going "through the front door" with Indigenous partners isn't just ethical, it's the pathway to successful returns in Canada's emerging Arctic economy.

Michael Bonshor, CPA, CMA, and newly appointed board chair of the Canadian Indigenous Loan Guarantee Corporation (CILGC), discussed the organisation's role in providing enabling affordable capital for Indigenous Nations. The CILGC, initially funded at $5 billion, was expanded to $10 billion by Prime Minister Mark Carney. With one deal completed and a number of applications received, the CILGC aims to support Indigenous economic opportunities across sectors. The CILGC's mandate now includes all sectors except gaming, and it plans to collaborate with other loan guarantee programmes to maximise funding utilisation.

Thomas Benjoe, CEO of Flowing River Capital, discusses how Canada’s first Indigenous-led private equity fund fuels investment.In this interview, he outlines the firm’s strategy to acquire and Indigenise strong businesses aligned with procurement commitments, unlocking billions in opportunities. Learn how Flowing River Capital combines Indigenous and non-Indigenous expertise, has already secured $35 million with a target of $100 million, and is trailblazing a new model for growth.Discover insights on building sustainable Indigenous-owned enterprises, leveraging procurement policies, and why economic reconciliation is central to investment success.

CWEIC drives trade across Commonwealth nations, linking rich countries like Australia and the UK with global markets and Indigenous innovation.In this episode of Drumbeats podcast, co-chairs Mark Magnacca and Robert Brant speak with Samantha Cohen, CVO, OBE, Chief Executive of the Commonwealth Enterprise and Investment Council.Cohen reveals the 21% Commonwealth trade advantage and why Canada is missing out on the world's fastest-growing economic network. Go behind the scenes of the Commonwealth Enterprise and Investment Council (CWEIC) as Samantha Cohen reveals how this remarkable self-funded organisation facilitates trade and investment. As the practical business arm of the Commonwealth, CWEIC operates independently from government policy, maintaining 13 global hubs from United Kingdom to Malta to Cyprus.

Preview the priorities, themes, and strategic direction of Summit 2026, from critical minerals to Arctic defence, energy, and infrastructure. In this episode of the Drumbeats podcast, Co-Chair Mark Magnacca offers a preview of what’s ahead at the 2026 Summit, a platform where Indigenous leadership and institutional capital converge.Building on our previous episode’s examination of Bill C-5, which strengthens the recognition of Indigenous rights and governance, this episode shows how these shifts are actively reshaping investment priorities, project design, and capital flows across Canada.

Indigenous-led finance meets institutional capital: FNFA's Jody Anderson reveals how First Nations are reshaping Canada's investment landscape.In this episode of the Canadian Indigenous Investment Summit podcast, co-chairs Mark Magnacca and Robert Brant speak with Jody Anderson, Vice President of Partnerships, Strategy & Public Affairs at the First Nations Finance Authority. A proud Anishinaabe kwe from Treaty 3 and member of Couchiching First Nation, Jody leads transformative work in advancing Indigenous-led economic growth across Canada. Jody shares insights from her leadership role designing high-impact initiatives and establishing trust-based relationships with First Nations committed to infrastructure development and financial self-determination.

Mark Carney's policy influence meets Bill C-5: How regulatory shifts are reshaping Indigenous-corporate investment partnerships in Canada.In this episode of the Canadian Indigenous Investment Summit podcast, co-chairs Mark Magnacca and Robert Brant examine Prime Minister Mark Carney's The Building Canada Act Bill C-5 and Canada's changing investment landscape. The legislation allows federal fast-tracking of major infrastructure projects by bypassing traditional regulations, a direct response to Trump's tariff threats, yet faces serious Indigenous opposition and ongoing legal challenges that create complex investment considerations.

Chana Martineau, CEO of the Alberta Indigenous Opportunities Corporation, joins Co-Chairs Mark Magnacca and Robert Brant to discuss how Indigenous communities are leading major investments in Alberta’s key sectors. With over 30 years in finance, Chana shares her insights on economic reconciliation, inclusive leadership, and building long-term partnerships across industries.