The $335 milllion Great Bear Sea Project Finance for Permanence project, which was finalized in mid 2024, has been recognized as “a remarkable example of Indigenous-led conservation finance, governance, stewardship, and long-term community impact”.

The Great Bear Sea, which extends from northern Vancouver Island to the Canada-Alaska border, is one of the Earth’s richest and most productive cold-water marine ecosystems, home to marine life from herring and salmon to whales, dolphins, seabirds, and kelp forests. It has been stewarded and cared for by First Nations for tens of thousands of years.

The Fulbright Canada Honouring Nations Canada award was accepted at the Victoria Forum in Victoria, BC, on August 24, 2026. Hosted in partnership with the Senate of Canada, the Forum brings together leaders from across Canada and internationally for discussions on governance, reconciliation, innovation, philanthropy, and social finance.

The PFP “meant a new era of partnership in marine stewardship and conservation on the central and north coasts of British Columbia, thanks to the leadership and vision of the First Nations who had worked towards this outcome for more than a decade,” says Dallas Smith, President of Nanwakolas Council and Chair of Coast Funds.

Coast Funds, the world’s first Indigenous-led conservation finance organization which manages the Great Bear Sea PFP funds, says the PFP “is strengthening sustainable coastal economies by linking conservation investments with economic development, employment, training, and stewardship opportunities in First Nations communities,” says Chief Executive Officer, Eddy Adra. “Over the next 20 years, we expect the PFP will support more than 3,000 new jobs and 200 new businesses in marine stewardship, transportation and renewable energy, sustainable fisheries, eco-cultural tourism, and manufacturing and processing.”

The Great Bear Sea PFP provides funding for the collaborative implementation of both the Marine Protected Area (MPA) Network Action Plan and the Marine Plan Partnership (MaPP) in the Great Bear Sea. Coast Solutions Task Group, Coast Funds, and seventeen First Nations are part of the PFP project.

It is “an outstanding example of what becomes possible when Indigenous Nations have the governance, resources, and partnerships to advance their own long-term vision,” says Robin McLay, Executive Director of the Fulbright Canada Honouring Nations Initiative. “It brings together Indigenous-led stewardship, innovative finance, and economic opportunity in a way that can create lasting benefits for generations.”

Through the collaborative efforts of First Nations, the governments of Canada and British Columbia, local governments, and stakeholders from commercial fishing, tourism, energy, and other sectors, the two initiatives are the foundation for a proposed network of marine protected areas encompassing approximately 30% of the Great Bear Sea. 

These co-developed plans will support healthy fisheries, protect and conserve ecosystems and important cultural sites, enable sustainable marine economies, improve food security, and increase coastal resilience.

“The Marine Protected Area Network is designed to protect and conserve our important resources from a place of co-governance that honours our expertise and our jurisdiction over our territories,” said K̓áwáziɫ Marilyn Slett, President of Coastal First Nations – Great Bear Initiative and Chief of the Heiltsuk First Nation. 

The PFP “is supporting the conservation goals the world needs and ensures our communities have the resources, training, and equipment for durable and collaborative management,” adds Christine Smith Martin, Chief Executive Officer of Coastal First Nations – Great Bear Initiative and co-Chair of the Coast Solutions Task Group.

“This demonstrates the importance of Indigenous leadership and decision-making in the stewardship of our coasts, ensuring the prosperity of our communities and of everyone who enjoys living and working in this incredible part of the world,” sayhs fellow co-Chair Merv Child, Executive Director of Nanwakolas Council. 

The Fulbright Canada Honouring Nations Canada Awards is an initiative of Fulbright Canada that recognizes, celebrates, and shares stories of exceptional Indigenous achievement.

Cover image: Representatives of the Great Bear Sea PFP accept the Fulbright Canada Honouring Nations award. From left to right: Robin McLay (Executive Director, Fulbright Canada Honouring Nations), Dr. Matt Vickers (Co-Chair for Honouring Nations Canada), K̓áwáziɫ Marilyn Slett (President, Coastal First Nations – Great Bear Initiative and Chief of the Heiltsuk First Nation), Christine Smith-Martin (Chief Executive Officer, Coastal First Nations – Great Bear Initiative and Co-Chair, Coast Solutions Task Group), and Dallas Smith (President, Nanwakolas Council and Board Chair of Coast Funds). (Photo: Meghan Saunders / Coast Funds)