In partnership with Coast Funds, First Nations invested nearly $7.8 million in conservation, stewardship, and economic development projects over the last year. And, in a landmark agreement, 17 First Nations worked with Crown governments and private funders to secure $335 million in long-term financing for the Great Bear Sea PFP.

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Celebrating First Nations’ Achievements: Investing for Future Generations

In our 2024 Annual Report, we feature projects and stories from First Nations that have worked with Coast Funds, celebrating their investments in stewardship and Guardian programs, leadership and governance, Nation-owned businesses and infrastructure, and sustainable projects impacting generations to come.

This year, Coast Funds delivered nearly $7.8 million for 22 projects along the coast, including:

• $5 million for 10 economic development projects
• $2.8 million for 12 stewardship and conservation projects

Since 2008, First Nations have leveraged their financing through Coast Funds to invest $120.3 million in 482 projects supporting sustainable economic development, conservation, and stewardship.

Coast Funds also welcomed two First Nations: Kitsumkalum, which joined through the Great Bear Sea PFP, and ʕaaḥuusʔatḥ Ahousaht, which chose Coast Funds to administer a stewardship fund for Maaqutusiis Hahoulthee Stewardship Society.

Great Bear Sea Project Finance for Performance (PFP) Initiative

On June 25, 2024, leaders from 17 First Nations, alongside representatives of the Government of Canada and Province of British Columbia, celebrated the closing of the Great Bear Sea PFP, which secured $335 million in long-term funding for Indigenous-led stewardship and economic development in the Great Bear Sea.

The Great Bear Sea PFP is supported by contributions from the Government of Canada ($200M), Province of British Columbia ($60M), and philanthropic partners ($75M). Together, First Nations and funders have developed funding steams that enable Nations to care for their marine territories and support sustainable economic development on the coast:

• Marine Stewardship Fund ($167 million)
• Community Prosperity Fund ($120 million)
• MaPP Implementation Fund ($48 million)

To administer the new Community Prosperity Fund, Coast Funds’ board established the Coastal Indigenous Prosperity Society (CIPS) and, this year, participating First Nations have begun accessing their funds to invest in infrastructure and businesses.

“Having the ability to plan your homelands, implement those plans, and have jurisdiction over those plans require special planning. They require work. They require training,” says Coast Funds Chair, Dallas Smith. “And this PFP has put us in a position where we’re going to be able to provide that [support] in perpetuity.”

Community Focus: Well-Being and Impact

First Nations are investing in Nation-building projects – such as Guardian programs, conservation, business development, and training – that support sustainable local economies and community well-being. Coast Funds works with participating First Nations to track outcomes and share knowledge and success stories to highlight the impacts of their projects.

The 2024 Annual Report includes updated outcomes data, tracking the cumulative impact of First Nations’ investments with Coast Funds from 2008 to 2024.

• Social Empowerment Outcomes
  • 1,416 new jobs
  • 654 skills training
• Environmental Conservation Outcomes
  • 444 research or habitat restoration initiatives
• Cultural Vitality Outcomes
  • 91 language projects
• Economic Prosperity Outcomes
  • $120.3 million invested through Coast Funds
  • 144 businesses expanded

EXPLORE OUTCOMES >

Coast Funds continues to support knowledge sharing initiatives for First Nations. In 2024, Coast Funds led the publication of Finance for Forests, a guide to financing First Nations’ conservation, stewardship, and Guardian programs. In October 2024, Coast Funds assisted with the planning of the inaugural Indigenous Conservation Forum, which brought together nearly 300 stewardship and conservation leaders from more than 70 Indigenous Nations and Inuit organizations.

In partnership with First Nations, Coast Funds continued to spotlight stewardship and business success, reporting through feature stories and blogs. Some highlights include:

• North Coast Skeena-First Nations Stewardship Society: Dual Commercial Salmon Fishery. READ ON>
• Na̲nwak̲olas Council: Three Nations Celebrate Na̱max̱sa̱la’s First Journey. READ ON>
• Metlakatla First Nation: Wilderness Trail Celebrates Metlakatla History and Culture. READ ON>
• Kwiakah First Nation: Centre for Excellence Will Support Guardians, Researchers. READ ON>
• Gitxaała Nation: Investing in Crest Hotel, Tourism Growth in Prince Rupert. READ ON>

Looking Forward

This year, Coast Funds has begun growing its team to build capacity to deliver new funding through the Great Bear Sea PFP and to enhance services for all the First Nations we serve.

Coast Funds looks forward to continuing its journey alongside the 29 First Nations we serve.

Reflecting on the last year, Coast Funds Chair Dallas Smith shared, “I think over the last 15 years, one of my favourite things about Coast Funds has been watching it grow. 2024 will always be remembered as the year it really came together.”

Download our 2024 Annual Report to learn more.

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