The Project Finance for Permanence (PFP) model is a conservation finance model that brings together partners and multi-partner investments to advance marine and terrestrial stewardship and coastal economies over the long term. It's recognized around the world as a powerful tool to advance durable, large-scale conservation projects coupled with sustainable economic and community development.
In 2022, the Government of Canada pledged to deliver up to $800 million for up to four Indigenous-led PFP initiatives. The Great Bear Sea PFP in British Columbia was established in June 2024, and the Northwest Territories Our Land for the Future PFP was established in November 2024.
"Sinaa" is an Inuktitut word meaning "the floe edge where the land fast ice meets the open water". The SINAA Agreement, (formerly referred to as the Qikiqtani Project Finance for Permanence) covers the Qikiqtani Region of Nunavut, which is one of the most biodiverse areas in the Arctic that is home to a wide variety of species including polar bears, narwhals, and migratory birds.
Led by the Qikiqtani Inuit Association, the SINAA Agreement intends to advance reconciliation and Inuit-led marine conservation in Canada's Arctic, as well as contribute to Canada's goal of conserving 30% of Canada's oceans by 2030. It is anticipated to advance an additional 3.68% contribution to Canada's marine conservation targets and 0.04% to terrestrial targets through the establishment of new Oceans Act Marine Protected Areas (MPA), National Marine Conservation Areas (NMCA), terrestrial protected and conserved areas.
Key components of the SINAA Agreement, include:
- a conservation plan that proposes several new protected and conserved areas, and enhanced protections for existing areas
- support for the Inuit stewardship (Nauttiqsuqtiit) program enabling Inuit partners to have eyes and ears on the water, land and ice
- support for Nauttiqsuqtiit Conservation Centres so that Inuit stewards have the proper equipment and office space to be stewards of the water, land, and ice
- support for Inuit-led regional governance so that Inuit can implement an integrated and regional vision for conservation that takes into consideration local and regional perspectives and integrates Inuit knowledge
The planned Government of Canada investment of $200 million for the SINAA Agreement is paired with pledged contribution of $70 million from philanthropic donors. The Pew Charitable Trusts has been the lead philanthropic organization coordinating donor engagement and is a signatory of the SINAA Agreement. These funds are expected to grow over time with additional investments in the region in support of Inuit stewardship, the governance of waters and lands, and creating jobs for Inuit in a conservation-based economy.
To further support economic opportunities for the Qikiqtani Inuit, Fisheries and Oceans Canada (DFO) and the Qikiqtani Inuit Association (QIA) have signed the Qikiqtani Fisheries Agreement. The Agreement provides funding over the next 10 years to support both acquiring access to offshore commercial fisheries, vessels and gear, and training to participate in offshore commercial fishing in adjacent waters.
The Government of Canada is committed to working alongside Inuit and northern partners to protect this region that is deeply intertwined with Inuit culture, economy and well-being.
