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Enbridge Inc
Symbol ENB
Shares Issued 2,024,676,423
Close 2023-06-07 C$ 50.68
Market Cap C$ 102,610,601,118
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Globe says RBC, others working with indigenous leaders

2023-06-08 09:07 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Thursday edition that a coalition of indigenous leaders, together with senior business and bank executives from Cenovus Energy, Enbridge, CIBC, Royal Bank of Canada and Hydro One, are meeting with top federal officials to urge them to create a national loan-guarantee program as a way to build more resource projects on traditional territories. The Globe's Bill Curry writes that proponents of major energy and mining projects are increasingly seeking to partner with indigenous communities, but many first nations lack access to the capital required to take on significant equity positions. Sharleen Gale, who is chairman of the First Nations Major Projects Coalition and chief of B.C.'s Fort Nelson First Nation, is leading a delegation on Parliament Hill to promote the creation of a national indigenous loan-guarantee program. According to Ms. Gale, a national program that expands on similar successful provincial lending options in Alberta, Saskatchewan and Ontario is the key to unlocking major projects that are often held up in regulatory and financing delays. On Wednesday, Ms. Gale said, "In order to get these projects built, you're going to need indigenous participation and consent."

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