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Carney isn’t some neutral national steward who wandered into politics carrying a lunch pail and a dream.
He is the carbon-finance guy.
GFANZ was launched in 2021 under Carney’s leadership as UN climate finance envoy, and its own material says it tied together financial firms with more than US$70 trillion in assets at launch. By late 2021, GFANZ was boasting that net-zero financial commitments had climbed past US$130 trillion.
Then Carney went to Brookfield. Brookfield announced him as Vice Chair and Head of ESG and Impact Fund Investing in 2020, and later he became closely tied to its transition-investing strategy.
Now as Prime Minister, he is pushing carbon markets and industrial carbon pricing while talking about pipelines like they are bargaining chips in a climate-finance spreadsheet. Reuters reports Ottawa and Alberta are moving toward an industrial carbon-pricing deal, with an effective Alberta credit cost rising toward $130 per tonne, and that this deal may help clear the path for a new crude pipeline.
So spare us the “pragmatic centrist” routine.
This is not normal resource policy. This is Canada’s energy future being filtered through the worldview of a man who spent years building the global carbon-finance machine.
The pattern is obvious:
First, create the carbon system.
Then, make industry depend on it.
Then, make provinces bargain through it.
Then, call the whole thing “nation-building.”
No. Nation-building is pipelines, LNG, nuclear, mines, ports, rail, affordable power, and private capital willing to risk money in Canada again.
Carney’s version is different. It is permission-slip capitalism. You may develop your own resources, but only after kneeling before the carbon market.
That is the sickness in Ottawa now. They don’t ask, “How do we make Canada rich again?” They ask, “How do we make every productive industry pass through our climate-control booth first?”
Canada has oil. Canada has gas. Canada has uranium. Canada has critical minerals. Canada has engineers, workers, ports, railways, and customers waiting around the world.
What Canada lacks is a government that will get out of the way.
Carney is not fixing the Liberal decade of decline. He is professionalizing it. Same anti-growth ideology, better suit, colder voice, bigger spreadsheet.
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