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CAPP Statement on BC Budget 2024 – First Nations Equity Financing Framework

Calgary, Alberta (Feb 23, 2024)

“CAPP is pleased to see the inclusion of the First Nations Equity Financing Framework in BC Budget 2024. This commitment to co-develop an Indigenous Loan Guarantee Program with First Nations and the federal government will ensure that Indigenous communities can finance an equity stake in projects. Budget 2024 also includes supports that will be introduced in the upcoming legislative session to support this work immediately. Enabling Indigenous ownership in major projects is key to developing linear infrastructure and expanding electrification across British Columbia.”

– Lisa Baiton, CAPP President & CEO

About CAPP

The Canadian Association of Petroleum Producers (CAPP) is a non-partisan, research-based industry association that advocates on behalf of our member companies, large and small, that explore for, develop, and produce oil and natural gas throughout Canada. Our associate members provide a wide range of services that support the upstream industry. CAPP’s members produce nearly three quarters of Canada’s annual oil and natural gas production and provide more than 400,000 direct and indirect jobs in nearly all regions of Canada. In 2022 across Canada, our industry contributed $111 billion to the Gross Domestic Product (GDP) in addition to paying $45 billion in taxes and royalty payments. CAPP is a solution-oriented partner and works with all levels of government to ensure a thriving Canadian oil and natural gas industry. We strive to meet the need for safe, reliable, affordable, and responsibly produced energy, for Canada and the world. We are proud to amplify industry efforts to reduce GHG emissions from oil and gas production and support Indigenous participation and prosperity.