15 April 2025 / WORDS BY Pollination Foundation
That’s the question we’ve been asking as we explore the potential for nature markets to be one of a suite of mechanisms to create new sources of revenue to protect, regenerate and steward nature.
While in Canada with our partners at First 30×30 Canada and Coast Funds we heard partnerships between Indigenous, provincial and federal governments are critical to building robust nature market projects. In Canada this is important due to the unique co-governance, co-management and co-funding models for the protection and stewardship of lands and seas.
The Indigenous Leadership Initiative describes IPCA’s as places that Indigenous Nations identify for conservation. They support Indigenous governments to build conservation economies and are a best practice model to sustain the health of our planet. Taking many forms, IPCAs have three things in common:
IPCAs are first designated through Indigenous law, then through partnership agreements with Federal and provincial governments. These are Nation-to-Nation agreements, in which each party outlines roles and responsibilities. IPCAs may be co-designated as national parks or national wildlife areas, but Indigenous Nations are always co-creators.
Like Indigenous Protected Areas in Australia, IPCAs support Canada to achieve its international commitments under the Global Biodiversity Framework to protect 30% of its lands and waters by 2030.
However, in 2022 less than 1% of land in Canada was designated as an IPCA, even though more than 50 Indigenous groups were at that time funded to consider and establish IPCAs. And, IPCAs don’t come with the scale of funding needed for long-term stewardship of lands and seas.
In response, the Canadian Government announced – during the Convention of Biological Diversity COP15 in Montrel – a $800m commitment to accelerate Indigenous-led conservation.
The intent of this commitment is to leverage private sector investment through the establishment of Project Finance for Permanence models woven around IPCA geographies.
Project Finance for Permanence (PFP) is an innovative public-private investment model for nature protection, regeneration and stewardship. In Canada the PFP model leverages government and private funding and supports large-scale, long-term, community-led, conservation and economic development.
The Canadian PFPs allow partners to contribute their unique experience, expertise, and/or funding to a long-term nature conservation initiative. They’re designed to support:
The Great Bear Rainforest PFP on the west coast of Canada was the first of its kind in the world.
In 2024, another two were announced: the Great Bear Sea and Northwest Territories PFPs.
© canada.ca
Indigenous Protected and Conserved Areas (IPCAs) and Project Finance for Permanence (PFP) frameworks are being woven together. This model brings together the connected network of partners needed to establish long-term financing for nature stewardship. The model is grounded in place with Indigenous rights and support from all levels of government.
Federal, provincial and Indigenous government and large-scale private funds are leveraged, providing the confidence to test new, community-led, long-term, sustainable enterprise opportunities – like carbon and nature markets.
These are deep partnerships for lasting change – our North Star for people and the planet.
Co-CEOs Ariadne Gorring and Jane Hutchinson describe discovering the Great Bear Rainforest PFP in 2014 as an “Ah-ha!” moment.
The Great Bear Rainforest PFP in Canada was a world first. The seed of the idea was planted in the late 1990’s – sparked by escalating disputes between First Nations, forestry companies and environmental campaigners within the Great Bear Rainforest and Haida Gwaii region of British Colombia.
By 2006, a land use management plan was drawn up by participating First Nations, Canadian and British Colombia governments, environmental groups and forestry companies for the 6.4-million-hectare region.
To fund the vision, Coast Funds was established.
Between 2008 and 2023, First Nations worked through Coast Funds to invest $120.2 million in more than 480 community-led conservation and economic and community development projects (including carbon market projects) attracting nearly $324 million in additional investment.
These First Nations’ projects have created 1,416 permanent jobs and 144 businesses, supported 444 research and habitat restoration initiatives, and have supported the revitalisation of First Nations’ languages and stewardship traditions.
That’s transformation! The creation of a First Nations-led economy based on nature conservation and stewardship in less than 20 years is incredible. And, it’s only the beginning.
Funding from:
Funding from:
IPCA’s and Indigenous-led Area-Based Conservation in Canada
https://www.ilinationhood.ca/indigenous-protected-and-conserved-areas
https://www.canada.ca/en/environment-climate-change/services/nature-legacy/indigenous-led-area-based-conservation.html
https://ipcaknowledgebasket.ca/ipca-faq/
https://ipcaknowledgebasket.ca/wp-content/uploads/2024/07/IPCA-FAQs-FINAL-JULY-2024-1.pdf
https://www.facetsjournal.com/doi/full/10.1139/facets-2022-0118
Project Finance for Permanence in Canada
First 30×30 Canada
First 30×30 Canada – Harnessing Carbon as a Catalyst for Indigenous-Led Conservation
Coast Funds
Great Bear Sea
https://coastfunds.ca/great-bear-sea/
https://www.dfo-mpo.gc.ca/oceans/collaboration/indigenous-led-projects-dirigees-par-autochtones/great-bear-sea-mer-eng.html
Great Bear Rainforest
https://coastfunds.ca/great-bear-rainforest/
https://www.canada.ca/en/environment-climate-change/services/nature-legacy/campfire-stories/great-bear-rainforest.html
Great Bear Carbon
Northwest Territories PFP
Nature Investment Hub
https://natureinvestmenthub.ca/knowledge-hub/
https://natureinvestmenthub.ca/scaling-investment-for-abundance-in-indigenous-led-conservation/
https://natureinvestmenthub.ca/scaling-investment-in-indigenous-led-conservation/
Or read more about our time in Canada here.
We acknowledge the ongoing commitment and support of Indigenous peoples and local community partners and funding partners.
Receive latest news and global perspectives from Pollination.
By clicking submit, you agree to our Terms & Conditions.
