The National Native Title Council (NNTC) is urging the Australian Government to provide Traditional Owners funding and access to finance in response to a Parliamentary report that recommends essential steps to supporting First Nations Australians’ right to economic self-determination.

“The clean energy transition provides vast opportunities for Traditional Owners with numerous clean energy, transmission and critical minerals projects predicted,” says Jamie Lowe, CEO of the NNTC. “But while billions of dollars of funding have been earmarked for industry, virtually no funding has been set aside for Traditional Owner groups with scant access to finance.”

Released on 26 November 2024 by the Joint Standing Committee on Aboriginal and Torres Strait Islander Affairs, the report comes on the heels of Prime Minister Anthony Albanese’s announcement at the Garma Festival in August that he will focus on First Nations economic empowerment through the government’s Future Made in Australia plan.

The report recommends the Australian Government provide adequate resourcing for Traditional Owner groups, including Prescribed Bodies Corporate (PBCs) to realise their native title rights, to strengthen engagement in the energy transition and develop new instruments to ensure they can access capital.

Prescribed Bodies Corporate (PBCs) are the representative corporations through which native title holders do business with project proponents on matters concerning their Country. There are over 270 PBCs, but the majority have little operational funding to meaningfully engage with proponents or participate in negotiations. As a result of this funding gap to Traditional Owners, proponents and investors currently face considerable delays and financial risks that threaten projects’ social licence to operate.

The Joint Standing Committee’s report also recommends “that the Australian Government consider impediments to responsible lending and capital flow from mainstream banks and financial institutions to Aboriginal and Torres Strait Islander peoples.”

Most PBCs have little ability to access finance and other critical support needed to manage Country and purchase equity stakes to co-own large-scale projects,” says Kado Muir, Chair of the NNTC. “A Future Made in Australia must redefine socio-economic relationships between First Australians and the settler economy.

Mr Muir says there is opportunity to “innovate and create financial solutions similar to the Canadian First Nations Finance Authority, offering concessional finance and capital grants for projects by traditional owners on their lands.”

The NNTC suggests that the investment mandates of the Commonwealth government’s special investment vehicles also be reformed to provide Traditional Owners access to capital.

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For all media requests please contact Sarah Easson – Head of Media Relations on

M: 0419 228 642 or E: sarah.easson@nntc.com.au