Providing Direct Benefit to Industrial Consumers
Promoting Responsible Development with First Nations Communities
Providing direct benefit to industrial consumers of electricity to meet their Impact Benefit Agreement commitments while promoting responsible development with First Nations communities.
Impact Benefit Agreements (IBAs) are privately negotiated, legally enforceable agreements that establish formal relationships between First Nations communities and industry proponents. Typically governments are not directly involved in the development or negotiation of these bilateral arrangements. It is important to note that IBAs are distinct from resource revenue-sharing arrangements between governments and First Nations groups, which share public revenues, such as royalties and taxes, generated from resource development.
Broadly, IBAs serve two primary purposes. First, they seek to address the potentially adverse effects of development activities on First Nations communities, with a view to providing some compensation for these activities. Second, IBAs help to ensure that First Nations communities acquire benefits from resource development activities occurring on their traditional territories. By working with 7th Generation Power who has made it their mission to benefit First Nations Communities, industry proponents are able to meet the conditions of an IBA and ensure responsible development occurs in conjunstion with First Nations.
In the coming decade current and planned resource development projects across Canada will yield total investments estimated at $650 billion much of which will occur on or near the traditional territories of First Nations people
These resource development projects have the potential to create new social and economic development opportunities for First Nations communities. Securing the support from affected First Nations communities to proceed with planned developments, and fostering their meaningful participation in such projects, will be an important part of realizing these potential benefits. Working with 7th Generation Power is an important step in encouraging participation of First Nations communities and realizing those benefits.
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