Image credit: Reconciliation and Responsible Investment Initiative
The Truth and Reconciliation Commission published its calls to action in 2015, and #92 focuses on the corporate sector. Their call includes adopting the UN Declaration on the Rights of Indigenous Peoples as a reconciliation framework, building respectful relationships with Indigenous peoples, and ensuring consent and benefit from economic development projects.
The Reconciliation and Responsible Investment Initiative has published a new report focused specifically on actions for investment management firms. Investment management firms can play an important role in advancing reconciliation and Indigenous rights recognition as employers, economic actors, shareholders, capital providers and, for those with Indigenous clients, stewards of Indigenous wealth. While many investment management firms have endorsed reconciliation in Canada, the degree to which firms support reconciliation and Indigenous rights recognition is not well understood.
All Hands on Deck: Opportunities for Investment Management Firms to Advance Reconciliation is based on a survey of current investment management practices related to reconciliation and Indigenous rights recognition. It offers five recommended actions for firms to take:
- Articulate a clear vision on reconciliation and Indigenous rights, including policies, practices, and outcomes to guide and measure the firm’s actions;
- Deepen engagement with Indigenous peoples;
- Review firm policies to identify opportunities to expand support for reconciliation and ensure they are consistently implemented;
- Actively promote reconciliation across the investment chain;
- Identify opportunities to support economic reconciliation and partnerships with Indigenous communities and businesses across investment portfolios.
The Reconciliation and Responsible Investment Initiative is a partnership between the National Aboriginal Trust Officers Association and the Shareholder Association for Research and Education. Learn more about it here.