This year's Sustainability bond of the year – agency award is presented to First Nations Finance Authority (FNFA) for its CAD 350 million $251 million) 30-year sustainable bond, the proceeds of which will be used to finance the Haisla Nation Cedar LNG project, a floating liquified natural gas (LNG) facility in British Columbia.

Cedar LNG is the world's first Indigenous majority-owned, low-carbon LNG Project and is regulated by the BC Energy Resource Activities Act (BC Energy Regulator), the Environmental Assessment Act (Environmental Assessment Office) and the Impact Assessment Act (Impact Assessment Agency of Canada). FNFA reports environmental benefits, including a 75% reduction in greenhouse gas emissions compared with traditional LNG facilities, and social benefits such as job creation and skills training for Haisla Nation members.

Judges commended the "clearly defined social and environmental objectives" which make "this a highly valuable sustainable bond."

The FNFA bond was further praised for "its ambition, authenticity, and powerful social narrative, financing a first‑of‑its‑kind Indigenous‑majority owned LNG project that delivers substantial benefits for the Haisla Nation," and its "strong environmental performance relative to traditional LNG facilities ... [which] offers clear, well‑articulated social and economic outcomes, supported by detailed case‑study evidence."

FNFA helps First Nations governments access capital markets by pooling their borrowing needs, allowing them to secure better loan terms.