Drumbeats - Canadian Indigenous Investment Podcast · Canadian Indigenous Investment Summit

From Grizzlies to Global Markets: Dallas Smith on Indigenous Tourism and Economic Renewal

October 23, 2025·38 min

This episode of Drumbeats features Dallas Smith, President of Nanwakolas Council and Board Chair for Coast Funds, discussing Indigenous-led conservation and economic development. Hosts Mark McNack and Rob Brandt explore Smith's unique perspective, shaped by his Kwakwaka'wakw heritage and upbringing across urban and remote First Nations communities. Smith details the creation of Coast Funds, a nearly half-billion dollar endowment established to support the Great Bear Rainforest agreement. The fund originated from a $120 million pool, with $60 million in private philanthropy matched by $30 million each from provincial and federal governments. It supports the protection of 3.1 million hectares, an area compared to the size of Ireland, and has generated over $100 million for economic development. Smith recounts how the late Chief Percy Starr challenged environmentalists to "make conservation pay for itself," leading to the innovative conservation financing model. The initiative has expanded to include a marine protected area strategy, bolstered by a $200 million commitment from the Canadian government at COP15. A surprising insight is Smith's exploration of Indigenous-to-Indigenous free trade to circumvent international tariffs, specifically the 35% U.S. duties on softwood lumber. He reveals active discussions with Indigenous nations in Washington, Oregon, and the southwestern U.S. to test trade provisions of the Jay Treaty. Smith also explains his organization's acquisition of Knight Inlet Grizzly Tours, noting that 90% of its clientele is from outside North America, seeking experiences with spirit bears and grizzly bears. He describes a "Golden Triangle" for tourists encompassing Alaskan cruises, the Rockies, and bear viewing, with nations working to build supporting infrastructure without degrading the environment. Smith shares a personal story of how golf became a tool for intergenerational knowledge transfer with his father, who has been a hereditary chief since 1982. The tone is conversational, candid, and rich with personal anecdote, moving from high-level finance to grassroots storytelling. Listeners interested in sustainable finance, conservation models, and Indigenous economic sovereignty will find this episode compelling. Those seeking a highly technical or debate-focused discussion on investment mechanisms might find the narrative-driven style less suited to their interests.

As heard by us

A clear look at Indigenous tourism, conservation finance, and trade as part of regional development.

Dallas Smith brings Indigenous tourism and conservation finance into the same frame instead of treating them as separate subjects, and the discussion stays anchored in the Great Bear Rainforest.

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Why you'd press play

Hear how Coast Funds, wildlife viewing, and Indigenous trade ideas intersect in the Great Bear Rainforest.

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