Front Burner Mark Carney: climate friend or foe?
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Dec 5, 2025 John Woodside and Max Fawcett from Canada’s National Observer dive into the debate surrounding Mark Carney's climate commitments. They analyze Carney's past warnings and whether his recent policy decisions, like scrapping the carbon tax and pausing electric vehicle mandates, signal a betrayal of the climate movement. The conversation also explores Carney's industrial carbon pricing strategy, the implications of Stephen Guilbeault's resignation, and whether Carney is navigating a pragmatic path toward long-term environmental goals.
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Climate As A Systemic Financial Risk
- Mark Carney reframed climate change as a systemic financial risk, not only a moral issue.
- That framing brought banks and insurers into climate action by linking it to economic stability.
Sell Transition As Profit Opportunity
- Carney sold climate action to finance by promising profit opportunities in the energy transition.
- He urged governments to de-risk projects so private capital could scale green infrastructure investments.
Campaign Promises Versus Early Actions
- During the campaign Carney shifted focus toward defending Canada and economic priorities over green policy details.
- Many platform promises on nature, EVs and retrofits are either delayed or being reversed under his government.
