The Bank of Canada Unveils Reconciliation Action Plan

Today, the Bank of Canada introduced its inaugural Reconciliation Action Plan, a blueprint for strengthening its relationship with Indigenous Nations and Peoples. The plan outlines the Bank’s commitment to fostering an inclusive workplace, championing Indigenous economic development, and building a deeper understanding of Indigenous economies in Canada.

Developed through extensive consultation with Indigenous partners, advocates, and employees, the plan reflects a two-year process of dialogue and learning. The Bank sought to understand the unique challenges faced by Indigenous communities and explore ways to collaborate towards reconciliation.

The plan is centered on two key priorities:

1. Deepening Understanding of Indigenous Economies: The Bank will actively seek to understand the diverse economic realities of Indigenous communities across Canada. This includes research, data collection, and engagement with Indigenous leaders and experts.
2. Building an Inclusive Organizational Culture: The Bank is committed to creating a workplace that values Indigenous perspectives and experiences. This involves fostering a culture of inclusion, diversity, and respect, and ensuring that Indigenous employees have opportunities for growth and development.

“The Bank’s role is to promote the economic and financial well-being of all Canadians,” said Senior Deputy Governor Carolyn Rogers. “Our approach to reconciliation is rooted in that mandate and guided by our core values of forward thinking, inclusion, and inspiring confidence.”

The Bank will report annually on its progress towards reconciliation and will review and update its goals and actions every three years through ongoing engagement with Indigenous partners.

https://www.bankofcanada.ca/2024/09/bank-canada-announces-reconciliation-action-plan/