I appreciate the Minister’s remarks again. I’m glad to hear that it will be mentioned at least there. I guess my last point here is the opportunity to establish an ethical investment protocol for when funds are in there, and I did make
the comment during the committee review, clause-by-clause, that standards should be established to ensure income from the fund principal is obtained from ethical investments, which observe environmental human rights and labour standards and avoid investment in socially harmful enterprises such as tobacco and arms production, and that we should consider a provision to allow the Heritage Fund, for example, to issue bonds from time to time, possibly an appealing mechanism for the public with the bonds to be guaranteed by the government. In this way the public, whose this fund really is, would secure some indirect ownership of the Heritage Fund through the public’s bond purchases.
The other aspect I mentioned was that income earned on fund investment should be used to promote the NWT’s environment, economic and social sustainability, and that a list of suitable projects should be established and should include such projects as infrastructure development aimed at energy conservation initiatives, development of renewable energy sources, resources to support long-term social benefit such as the building of early childhood programs, elder support and cultural centre, and community-based economic diversification. Obviously, these now are the 17th Assembly’s bailiwick. But again, are these things going to be profiled in that transition document and does the act, the bill, provide any provisions for direction towards these objectives? Thank you.