Ahead of an anticipated Final Investment Decision in 2026, Simigigyet’m Gitanyow (Gitanyow Hereditary Chiefs) – a traditional Indigenous government mandated to protect Gitanyow Nation’s lands, resources, and laws – submitted a letter today to 43 banks and pension funds to respect Gitanyow rights, and urge against providing financing or equity investments for the proposed Ksi Lisims liquefied “natural” gas (LNG) project or its developers. 

Read the full letter from Gitanyow Hereditary Chiefs to major banks and pensions.

Simogyet Watakhayetsxw/Deborah Good:

“Investors considering financing Ksi Lisims LNG need to know that this project is an extremely risky bet for many reasons and continues to face mounting opposition. Gitanyow’s message is clear: we’ll continue to fight for our way of life and stand up against projects like this that threaten our Lax’yip.”

This comes amidst decades of resistance, from these lands and around the world, to LNG and other forms of fossil fuel expansion. 128 civil society organisations have endorsed the Gitanyow letter in solidarity. 

Addressing the lack of consent by at least four additional First Nations, the mounting financial risks of LNG projects as the world rapidly transitions to renewable energy, and legal and regulatory climate and environmental threats, the letter states:

“We would like to alert you to significant negative impacts and risks posed to our people and the natural resources on which we rely from the proposed Ksi Lisims liquefied natural gas project. Given our serious concerns, growing legal uncertainty and the withholding of consent for the project by Indigenous Peoples — including Gitanyow — as required under the U.N. Declaration on the Rights of Indigenous Peoples to which Canada is a signatory, we strongly urge your institution not to provide financing or consider equity investments for this project or its developers.”

On November 13, Prime Minister Mark Carney designated Ksi Lisims LNG of national significance and referred it to the Major Projects Office for fast-tracking and possible taxpayer-backed support. The 12 million tonnes of gas exported by Ksi Lisims would escalate climate-killing emissions while putting billions in the pockets of foreign-owned and MAGA-linked private equity firms. This also comes on the heels of COP30 in Brazil where the rights and inclusion of Indigenous Peoples rightfully dominated the negotiations.

The letter continues:

“The Gitanyow have never ceded or surrendered title to their lands, rights to their resources, or the power to make decisions within the Lax’yip (Territory)…We have challenged the project in court over threats to salmon populations in the Nass Watershed, climate impacts, inadequate consultation and absence of Indigenous consent..… consent and/or a decision on consent has not been granted for Ksi Lisims LNG by four of the six participating Nations: Lax Kw’alaams, Metlaktla, Kitsumkalum, and Gitxalaa.”

Multiple First Nations have challenged Ksi Lisims LNG legally, including ongoing individual federal court challenges from Lax Kw’alaams Band and Metlakatla First Nation launched in October 2025; Gitanyow Hereditary Chiefs challenged Ksi Lisims LNG in BC Supreme Court over dangers to salmon, climate impacts, and failure to properly consult, which was recently dismissed are considering an appeal. 

Offering four clear recommendations for financial institutions considering Ksi Lisims LNG financing, Gitanyow leaders requested direct response to this letter within two weeks, by December 15, confirming decisions around denying financing to this project as part of a broader LNG exclusion policy. 

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Notes to the Editor: 

The full list of financial institutions that received the KSI LISIMS LNG PROJECT – LEGAL, FINANCIAL, AND ENVIRONMENTAL RISKS TO FINANCIERS AND INVESTORS letter includes: 

Banks: Bank of America, BBVA, BMO, BNP Paribas, CIBC, Citi, Credit Agricole, Deutsche Bank, Goldman Sachs, HSBC, ING, Intesa Saopaolo, JPMorgan Chase, MUFG, Mizuho, Morgan Stanley, National Bank of Canada, RBC, Santander, Scotiabank, SMBC, Societe Generale, TD Bank, Wells Fargo

Export Development Canada, Canada Infrastructure Bank, Export-Import Bank of Korea, Korea Trade Insurance Corporation, Korea Development Bank, Japan Bank for International Cooperation

Pension Funds: Alberta Investment Management Corp, British Columbia Investment Management Corp, Caisse de Depot et Placement du Quebec, Canada Pension Plan Investment Board, Canada Post Pension Plan, Healthcare of Ontario Pension Plan, Investment Management Corp of Ontario, Ontario Municipal Employee Retirement System, Ontario Pension Board, Ontario Teachers’ Pension Plan, Ontario’s University Pension Plan, OPSEU Pension Trust, Public Sector Pension Investment Board

For more information, visit: https://www.gitanyowchiefs.com/