Prime Minister Mark Carney has for decades preached climate virtue to a global audience while quietly profiting from oil, gas and airline giants — the sectors he claims threaten the planet.
Carney, upheld along with his wife Diana Fox Carney by the Liberal establishment and media as a so-called visionary of sustainable finance, is the former UN Special Envoy for Climate Action and Finance and vice-chair of Brookfield Asset Management’s Global Transition Fund.
Yet, behind the net-zero rhetoric lies a massive personal fortune rooted in industries he publicly attacks, tucked away in a blind trust allegedly since he became Liberal leader in March.
The prime minister’s
newly released financial disclosure to the Ethics Commissioner reveals that more than 95% of Carney’s holdings are based in the US in industries like oil, tech and finance. A mere handful of companies out of more than 600 on the disclosure list were based in Canada, including oil and gas and railway holdings, as well as Brookfield Asset Management (formerly a Canadian company before it transferred its primary listing to the US).
His portfolio included shares in:
- ExxonMobil, Chevron, ConocoPhillips, Marathon Petroleum, Valero Energy and Halliburton — some of the largest oil producers and services companies in the world
- Ovintiv and Canadian Natural Resources, both major players in Alberta’s oil sands, a frequent target of leftist environmental criticism
- Phillips 66 and Targa Resources, US refiners and midstream operators that profit directly from fossil fuel infrastructure
When asked about potential hypocrisy on March 6, Carney snapped back at reporters: “I have more than complied with all the rules,” according to
CBC.
Despite decrying the growing power of Silicon Valley and calling for tougher regulation of data and privacy, Carney held investments in Apple, Amazon, Google, Microsoft and Meta (Facebook).
He’s also publicly supported banking reform and warned against risky lending practices — yet invested heavily in JPMorgan Chase, Bank of America, Goldman Sachs, Capital One and Morgan Stanley. More than 95% of his public holdings are in American companies, many of them direct competitors to Canadian firms that would be hit hard by tariffs.
