Is skin-in-the-game a game-changer? A review on Indigenous community empowerment through equity stakes in the energy sector

Abstract

This project synthesizes and critically evaluates existing evidence on Indigenous equity participation in the energy sector. It examines how equity ownership can support inclusive economic growth, economic reconciliation, and just energy transitions. First, the study reviews academic and applied literature to map the evolution of Indigenous participation, from consultation and benefit sharing to active ownership and governance roles across national contexts. It then examines how equity arrangements are structured in practice, including mechanisms such as loan guarantees, joint ventures, and community partnerships, while assessing key challenges and risks associated with financing, governance capacity, and regulatory uncertainty. Lastly, the project identifies gaps in current knowledge and develops evidence-based recommendations to improve financial access, strengthen governance frameworks, and support meaningful Indigenous participation in energy system transformation.