Great Bear Rainforest (Credit: Andrew S Wright) 2
Coast Funds, an Indigenous-led conservation finance organization, was established in 2007 as a result of the Great Bear Rainforest agreements. These agreements, which protected 6.4 million hectares of coastal temperate rainforest, were a historic milestone in environmental conservation. Eddy Adra, CEO of Coast Funds, explains, "Our vision is to support First Nations in achieving their visions for environmental sustainability and economic prosperity. We provide financing and additional services, such as long-term stewardship planning, fundraising, and storytelling." Coast Funds was established to manage $120 million in financing for First Nations’ conservation, stewardship, and economic development projects in the Great Bear Rainforest and Haida Gwaii. In 2024, First Nations secured another $335 million through the Great Bear Sea project finance for permanence initiative for marine stewardship and community development – this new funding will also be managed and delivered through Coast Funds. Coast Funds’ 2023-2025 Strategic Plan directs the organization to continue serving First Nations by 3
delivering financing for their economic development, conservation, and stewardship priorities. "We are transitioning our operating model to find new sources of investment capital and continue offering services to support First Nations in achieving their goals,” says Adra. “Collaboration with First Nations to share knowledge on project development, investment strategy, and community well-being outcomes is a key initiative.” Balancing economic development with environmental conservation is a core principle of Coast Funds. "We were created to demonstrate that community prosperity and ecological stewardship are interconnected," says Adra. "Our model includes both up-front financing for First Nations to invest in sustainable businesses and economic development, as well as long-term funding for stewardship and Guardian programs." This approach has led to the creation of nearly 1,300 jobs and over 130 businesses, attracting an additional $306 million in investment, and supporting nearly 400 research and habitat restoration projects. Key initiatives in the strategic plan that support First Nations' leadership and self-determination include empowering First Nations to make decisions about which projects and programs to invest in. "Funding is managed through an allocation model, so First Nations aren’t in competition with one another and Eddy Adra, CEO of Coast Funds. (Credit: Coast Funds) 4
have access to regular funding for long-term plans," says Adra. Additionally, First Nations can choose to access additional services through Coast Funds to support capacity building, long-term stewardship planning, fundraising to increase access to financing, and storytelling. Coast Funds' mandate emphasizes the importance of First Nations' responsibility to manage and steward their traditional territories—a role they have fulfilled for tens of thousands of years. "We support Indigenous-led initiatives in British Columbia’s coastal regions, focusing on environmental conservation, economic prosperity, and cultural revitalization," says Adra. Success in conservation and community wellbeing projects is measured through an outcomes framework developed with First Nations. "This framework includes 20 indicators for environmental conservation, social empowerment, economic prosperity, and cultural vitality," says Adra. "After projects are completed, our team works with Nations to track outcomes and lessons learned. We publish aggregated outcomes on our website to share progress and impact." One of the major challenges Coast Funds faces is finding long-term sources of funding to support the ambitious goals of the First Nations they serve. "Many Nations may require additional investment to Wei Wai Kum Guardians carrying out a biomass survey to check the health of kelp in their territory. (Credit: Deirdre Leowinata / Coast Funds) 5
Great Bear Rainforest (Credit: Andrew S Wright) Haida carvings near Skidegate, BC. (Credit: Coast Funds) 6
fully realize their visions," Adra acknowledges. "We serve 27 First Nations, each with their own priorities and goals. With a small team, we work to stay engaged with each Nation through regular calls, community visits, and collaboration." Partnerships with conservationists, industry, and government are crucial for Coast Funds' mission. "Our organization was created through collaboration between First Nations, Crown governments, industry, and environmental groups," Adra explains. "These collaborations were essential to securing environmental protections and financing. Today, we continue to collaborate to plan for the future, strengthen communities, secure funding for marine stewardship, and help First Nations meet their goals for sustainable development and conservation." Coast Funds supports the cultural and social wellbeing of First Nations communities by integrating cultural and social considerations into its funding strategies. "We recognize that cultural resilience, social well-being, and sustainable development are interconnected in Indigenous communities," says Adra. "Our aim is to support and promote these within our understanding of stewardship and sustainability." Innovative financing mechanisms are employed to ensure the sustainability of conservation projects. Coast Funds staff members on a community visit on the south-central coast. (Credit: Coast Funds) 7
Carving in Wuikinuxv territory. (Credit: Coast Funds) 8
"Coast Funds was established as the world’s first project finance for permanence initiative, combining up-front funding for economic development with long-term investments in conservation and stewardship," says Adra. "Our endowment is managed with an I+ESG investment approach, considering Indigenous values, environmental, social, and governance criteria." Looking ahead, Coast Funds will continue to serve First Nations, who are doing the work to manage their lands and resources, strengthen their communities, and revitalize their cultural and governance practices. "By working in partnership with Nations, we aim to support economic and conservation opportunities that match local values and priorities.” For more information on Coast Funds and their initiatives, please visit www.coastfunds.ca Nathan Cullen, Minister of Water, Land and Resource Stewardship; Jennifer Rice, Parliamentary Secretary for Rural Health; K̓áwáziɫ Marilyn Slett, Chief Councillor of the Heiltsuk Nation and President of Coastal First Nations; Premier David Eby; Dallas Smith, President of Nanwakolas Council; and Eddy Adra, CEO of Coast Funds. (Credit: Government of BC) 9
As seen in BusinessEliteCanada.com www.coastfunds.ca
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