Canada does not have a moment to lose in safeguarding its sovereignty

This editorial was written and published by the Globe & Mail on January 5, 2025.

It should have been clear in November, 2024, when Donald Trump won re-election that Canada needed to act with urgency to end the drift of (especially) the past decade, during which the federal government dangerously neglected the basics of safeguarding national sovereignty.

The alarm bells were seemingly heeded last spring, when Mr. Trump launched his trade war and started greedily eyeing Canada as the 51st state. Against the odds, the Liberals won re-election under Mark Carney on the promise of an elbowsup response to Mr. Trump’s provocations.

But that promised response has not materialized, despite other worrying developments. In November, the U.S. administration published a National Security Strategy that would dramatically curtail the sovereignty of any Western Hemisphere country, Canada included.

Then came the U.S. military strike on Venezuela on Saturday. Any thought that Canada could simply wait out Mr. Trump’s term in the White House ended this weekend.

There has been no shortage of rhetoric from Prime Minister Mark Carney about the need to expand Canada’s military capacity and to end economic stagnation. What has been lacking for more than a year is action commensurate to the national emergency in which Canada finds itself.

The conundrum that Canada faces is that there is no immediate fix to today’s emergency. It will take years to build a new pipeline, and years to fully rebuild Canada’s military. Which is why there is not a moment more to lose.

The Liberals have talked about doubling non-U.S. exports over the coming decade. But what will happen this year? This month? The Liberals have talked about increasing Canada’s military spending to 5 per cent of GDP by 2035. What steps will be taken in 2026? The Liberals have signed a memorandum with Alberta that sets the stage for an oil pipeline to the Pacific. It’s a solid first step, but when will the next one come?

The right answer, the only answer, must be immediately, for the three herculean tasks of diversifying Canada’s exports, revitalizing the domestic economy and rebuilding this country’s military capacity.

The single biggest step that Ottawa can take in diversifying exports is to ensure a new bitumen pipeline to the West Coast is constructed. The economic logic was unassailable before the U.S. seized Venezuela’s Nicolás Maduro. Now, the United States is vowing to ramp up Venezuelan crude production, which would swell supplies of heavy oil for U.S. refiners – driving down prices for Alberta producers. The immediate response must be to green-light additional capacity for the Ottawa-owned Trans Mountain pipeline. The company has said it intends to boost capacity over the next five years. That timeline needs to be accelerated to start this year.

More important, Ottawa must work with Alberta to secure a private proponent in the coming months for a new oil pipeline, underpinned by a commitment that all regulatory approvals will be granted in under two years.

There will need to be consultation and accommodation with Indigenous communities to fulfill Ottawa’s constitutional duty. But the Liberal government must make it clear in those talks (and to any obstructionist premier) that the only question to be discussed is how a pipeline will be built.

The same kind of leadership is needed for the forging of a national economy. The promise of internal free trade has devolved, yet again, into inter-provincial squabbling. The federal government needs to step in to ensure that internal trade barriers are dismantled speedily and permanently.

Ottawa already has the only tool it needs, in the form of its very deep pockets. Federal funds should be made contingent on provinces and territories tearing down trade barriers.

On national defence, the Carney government has taken some initial measures to boost military capacity. But the announcements last year of an increase in defence spending and procurement reform are, at most, an overdue first step.

Recruitment needs to quicken, now. Procurement delays need to end, now. Any minister who attempts to detour spending into regional pork-barrelling should be booted from cabinet. Any staff officer who gets in the way of ending the bureaucratic snarls of procurement must be cashiered.

In June, former U.S. ambassador Kelly Craft told a Toronto business audience that if Canada doesn’t like being called a 51st state, it should stop acting like one. Those may be hard words for Canadians to hear, but they underscore the seriousness of the moment, and the urgency of action.

How we could reignite Inger­soll’s CAMI auto plant

The same GM facility that built cuttingedge electric vans could anchor a new, madeinCanada electricvehicle program, one built for ordinary Canadians, not just corporate fleets or luxury buyers, writes Colin Simpson.

This article was written by Colin Simpson and was published in the Toronto Star on January 3, 2026.

COLIN SIMPSON COLIN SIMPSON IS DEAN OF THE CENTRE FOR CONTINUOUS LEARNING AT GEORGE BROWN COLLEGE.

When Gen­eral Motors shut down Bright­Drop pro­duc­tion at the Inger­soll CAMI plant this fall, Oxford County lost more than a thou­sand skilled jobs and a vital piece of Ontario’s man­u­fac­tur­ing back­bone.

Yet this does not have to be another chapter in the long decline of Cana­dian auto pro­duc­tion.

The same facil­ity that built cut­ting­edge elec­tric vans could anchor a new, made­in­Canada elec­tric­vehicle pro­gram, one built for ordin­ary Cana­dians, not just cor­por­ate fleets or lux­ury buy­ers.

For dec­ades, CAMI has been part of Canada’s indus­trial DNA. Gen­er­a­tions of work­ers have built vehicles that ended up in drive­ways across North Amer­ica.

When GM con­ver­ted the plant to pro­duce Bright­Drop elec­tric deliv­ery vans, it seemed to mark a new begin­ning, proof that Canada could lead the EV trans­ition.

Instead, the mar­ket shif­ted, orders stalled and pro­duc­tion ceased. The lights dimmed once more in Inger­soll. But those lights could, and should, come back on.

The frus­tra­tion in the com­munity is real.

Mike Van Boekel, chair of Uni­for Local 88, which rep­res­ents roughly 1,100 laid­off CAMI work­ers, recently said the union is ready to occupy the idled plant if GM attempts to remove equip­ment.

“The ball’s in GM’s court. If they don’t remove equip­ment, we won’t seize the plant,” he said, emphas­iz­ing that such a move is not his pre­ferred option.

Van Boekel and Uni­for’s national lead­er­ship have been work­ing with the fed­eral and pro­vin­cial gov­ern­ments to per­suade GM to assign a new vehicle to the site without suc­cess so far.

Canada has pledged to move toward zero­emis­sion vehicles over the next dec­ade, but policy tar­gets alone will not get us there. Afford­ab­il­ity and access will.

Imports from Asia and Europe remain costly and vul­ner­able to tar­iff swings. Amer­ican EVs enjoy heavy domestic incent­ives. Mean­while, most Cana­dians still can­not find an elec­tric vehicle under $45,000, and middle­income buy­ers are being left out of the shift.

That is the gap Inger­soll can fill. Reopen­ing CAMI to pro­duce an afford­able, prac­tical EV designed and built in Canada would not only revive a skilled work­force but also give the coun­try a sus­tain­able busi­ness model for long­term com­pet­it­ive­ness.

The plant already has the equip­ment, sup­ply con­nec­tions, and trained employ­ees to get mov­ing quickly. The infra­struc­ture is there. The expert­ise is there. The oppor­tun­ity is there. What is needed now is lead­er­ship and a busi­ness plan rooted in value, not vir­tue.

Ima­gine a com­pact hatch­back or small cros­sover with a 300­kilo­metre real­world range, built for our win­ters and our budgets.

Heated bat­ter­ies, cold­weather pre­con­di­tion­ing, cor­ro­sion pro­tec­tion, a price tag under $40,000. This is the kind of vehicle that could replace the second car in mil­lions of drive­ways or serve as the first EV for fam­il­ies who have been priced out of the mar­ket.

It is also the kind of product gov­ern­ments them­selves could use.

If Ott­awa and Queen’s Park want to strengthen domestic man­u­fac­tur­ing, they can start by pur­chas­ing Cana­dian.

Com­mit­ting to buy the first 25,000 units for fleets such as Canada Post, pro­vin­cial util­it­ies, school boards, and muni­cipal ser­vices would give a reborn CAMI steady demand from day one. It is a proven approach.

Que­bec’s and Brit­ish Columbia’s early pub­lic orders for elec­tric buses helped launch entire local indus­tries.

This plan makes eco­nomic sense. Reusing exist­ing facil­it­ies avoids the bil­lion­dol­lar costs of new con­struc­tion. The Oxford County sup­ply chain remains largely intact. Ontario’s energy rates are stable, and Canada’s elec­tri­city grid is among the clean­est and most reli­able in the world.

Each job saved or recre­ated in Inger­soll sup­ports sev­eral more across sup­pli­ers, trans­port, and ser­vice indus­tries. For tax­pay­ers, it is not a sub­sidy, it is a stra­tegic invest­ment that pays dividends in employ­ment, trade bal­ance, and tech­no­lo­gical know­how.

Crit­ics will argue that gov­ern­ments should not pick win­ners. But every coun­try that suc­ceeds in EV man­u­fac­tur­ing, from the United States to South Korea, does exactly that.

The dif­fer­ence is how smartly they do it. A reborn CAMI would serve real domestic demand, com­pete in a price seg­ment where the mar­ket gap is widest, and use the tools Canada already has in place.

This is not nos­tal­gia for a lost auto town. It is an argu­ment for sound eco­nom­ics. It is about mak­ing sure the trans­ition to elec­tric trans­port­a­tion sup­ports local jobs, local sup­pli­ers, and local con­sumers instead of send­ing oppor­tun­ity off­shore.

Inger­soll does not need another “what­if” head­line. It needs a reason to believe in its future, and so does the coun­try. We already have the plant, the tal­ent, and the tools. What we need now is the resolve to con­nect them.

If Canada is ser­i­ous about build­ing afford­able EVs, pro­tect­ing skilled man­u­fac­tur­ing, and keep­ing value inside our bor­ders, the path runs straight through Oxford County. The elec­tric future does not have to be impor­ted.

It can be made right here at home.

Min­is­ter won’t prom­ise bill won’t change

This article was written by Alessia Passafiume and was published in the Toronto Star on January 1, 2026.

With her gov­ern­ment under pres­sure to finally elim­in­ate boil­water advisor­ies in First Nations com­munit­ies, the fed­eral min­is­ter respons­ible for Indi­gen­ous ser­vices isn’t com­mit­ting to bring­ing back a defunct clean water bill in the new year as writ­ten — after two provinces objec­ted to it.

That bill, which died when the last fed­eral elec­tion was called, was draf­ted with input from First Nations and sought to ensure they could pro­tect fresh water sources on their own ter­rit­or­ies.

Prime Min­is­ter Mark Car­ney prom­ised chiefs at the Assembly of First Nations’ gath­er­ing early in Decem­ber that new clean water legis­la­tion would come in the spring.

The bill sought to ensure First Nations could pro­tect fresh water sources on their own ter­rit­or­ies

Indi­gen­ous Ser­vices Min­is­ter Mandy Gull­Masty told the Cana­dian Press last sum­mer she was com­mit­ted to rein­tro­du­cing the pre­vi­ous legis­la­tion — des­pite oppos­i­tion from the pro­vin­cial govern­ments in Alberta and Ontario, which warned in a media state­ment that rein­tro­du­cing the bill as writ­ten would “under­mine com­pet­it­ive­ness and delay project devel­op­ment.”

Gull­Masty vowed in the sum­mer the new bill would affirm First Nations have a human right to access clean drink­ing water. She did not explain how that might work after the pas­sage of legis­la­tion in June that speeds up the approval timeline for major infra­struc­ture projects and gives cab­inet the abil­ity to sidestep some envir­on­mental laws.

In a fol­lowup inter­view with the Cana­dian Press earlier in Decem­ber, Gull­Masty would not com­mit to includ­ing the same source water pro­tec­tions in the new bill. She also wouldn’t say if she is push­ing for those pro­tec­tions around the cab­inet table.

“I don’t want to put aside work that has pre­vi­ously been done. I think that’s found­a­tional. But I do think there has to be a com­pon­ent where you are hav­ing that region­al­ized approach,” she said.

“That bill, while it may not have been per­fect, I think has really put a lot of oppor­tun­ity on the table. When we come back in the spring, we will be announ­cing what the bill is going to look like.”

Car­ney prom­ised Cana­dians dur­ing the spring elec­tion cam­paign that his gov­ern­ment would move rap­idly to mater­i­ally improve their lives.

But many Indi­gen­ous lead­ers say the gov­ern­ment’s pro­gress on address­ing their own com­munit­ies’ crit­ical pri­or­it­ies slowed to a crawl over the past 12 months — that 2025 was a lost year for efforts to repair drink­ing water sys­tems, reform the child wel­fare sys­tem and erad­ic­ate tuber­cu­losis in the North.

In early 2016, the Cana­dian Human Rights Tribunal ruled that Ott­awa’s chronic under­fund­ing of First Nations child wel­fare ser­vices was dis­crim­in­at­ory because it meant kids liv­ing on­reserve were given fewer ser­vices than those liv­ing off­reserve.

The tribunal tasked Canada with reach­ing an agree­ment with First Nations to reform the sys­tem and com­pensate those who were torn from their fam­il­ies and put in foster care.

The Trudeau gov­ern­ment, fol­low­ing nego­ti­ations with the Chiefs of Ontario, Nish­nawbe Aski Nation and the Assembly of First Nations, presen­ted a $47.8 bil­lion com­pens­a­tion and reform pack­age in 2024. First Nations chiefs and their prox­ies voted to reject it that same year; many opposed it because the fund­ing would only be avail­able for 10 years and would be sub­ject to annual reviews.

After the tribunal ordered both sides to present it with new child wel­fare set­tle­ment plans by the end of Decem­ber, it ended up with two pro­pos­als. Ott­awa’s would provide $35.5 bil­lion in fund­ing up to 20332034, fol­lowed by an ongo­ing com­mit­ment of $4.4 bil­lion annu­ally. The First Nations pro­posal, mean­while, calls for the co­devel­op­ment of a stat­utory fund­ing mech­an­ism between First Nations and Ott­awa.

Gull­Masty told the Cana­dian Press she has spent a lot of time ana­lyz­ing the file, learn­ing what dif­fer­ent groups want and think­ing through approaches to reform.

“We’re obliged to respond to the tribunal, but we are also obliged to respond to com­munit­ies that are ask­ing for their own pro­cess,” she said.

Crit­ics decry PCs’ devel­op­ment plan

Province to cre­ate `spe­cial eco­nomic zones’ to off­set effects of U.S. tar­iffs

Premier Doug Ford, left, and Economic Development Minister Vic Fedeli are fasttracking development in Ontario with new regulations that allow the province to bypass local and provincial rules for “trusted proponents and projects.”

This article was written by Rob Ferguson and was published in the Toronto Star on January 1, 2026.

Ontario is pav­ing the way for Premier Doug Ford’s con­tro­ver­sial “spe­cial eco­nomic zones” in 2026 amid other changes that include mak­ing life tougher for impaired drivers and easier for skilled work­ers mov­ing here.

Step­ping up the push to fast­track devel­op­ment to off­set eco­nomic dam­age from U.S. Pres­id­ent Don­ald Trump’s tar­iffs, new reg­u­la­tions tak­ing effect Thursday let the province bypass local and pro­vin­cial rules for “trus­ted pro­ponents and projects.”

But crit­ics are wor­ried pro­tec­tions for the envir­on­ment, work­ers, wild­life, endangered spe­cies, Indi­gen­ous com­munit­ies and their treat­ies will be watered down in what they dub “no law” zones.

Ford, who is keen to develop the vast Ring of Fire’s crit­ical min­eral depos­its in north­west­ern Ontario for elec­tric vehicles, defence projects and other indus­tries, argued too much red tape would hold projects back at a crit­ical time.

“We need to get mov­ing, folks,” he told report­ers when Bill 5, legis­la­tion estab­lish­ing the zones, passed in June.

“We aren’t going to sit back and wait 15 years to get shovels in the ground while the whole world is eat­ing our lunch,” he added, not­ing that’s how long it can take to open a mine in Ontario.

Eco­nomic Devel­op­ment Min­is­ter Vic Fed­eli sig­nalled two weeks ago that the province is work­ing with “inter­ested part­ners” to des­ig­nate the first sites.

“Spe­cial eco­nomic zones will bol­ster Ontario’s advant­age by cut­ting red tape, accel­er­at­ing approvals and pro­tect­ing the jobs and indus­tries that keep our province resi­li­ent and com­pet­it­ive,” he said.

The zones will be a “crit­ical tool to accel­er­ate major nation­build­ing projects and secure job­cre­at­ing invest­ments that deliver last­ing prosper­ity for our work­ers,” Fed­eli said.

He pledged to main­tain the province’s stand­ards for envir­on­mental pro­tec­tions and to con­sult with rel­ev­ant parties — includ­ing Indi­gen­ous com­munit­ies, some of which were vig­or­ously opposed to Bill 5.

Oppos­i­tion parties aren’t buy­ing Fed­eli’s assur­ances about the zones, which can be des­ig­nated any­where in the province, such as on prime farm­land.

“You can­not trust this gov­ern­ment to give them­selves unlim­ited powers,” said New Demo­crat Leader Marit Stiles, cit­ing the Pro­gress­ive Con­ser­vat­ive gov­ern­ment’s $8.28­bil­lion Green­belt land swap scan­dal now under crim­inal invest­ig­a­tion by the RCMP.

Green Leader Mike Schreiner issued his own warn­ing given that Ford is under fire for his $2.5­bil­lion Skills Devel­op­ment Fund that gave hefty pay­outs to hun­dreds of groups with low­ranked applic­a­tions — with Labour Min­is­ter David Pic­cini now under invest­ig­a­tion by Ontario’s integ­rity com­mis­sioner over it.

“Spe­cial eco­nomic zones will open the door to back­room deals and insider giveaways, while Indi­gen­ous rights, envir­on­mental pro­tec­tions, worker rights and local demo­cracy suf­fer,” Schreiner said.

Under the reg­u­la­tions filed Dec. 16, Fed­eli must be con­vinced projects are “eco­nom­ic­ally sig­ni­fic­ant or stra­tegic­ally import­ant” and that pro­ponents have “a good record of com­ply­ing with legal require­ments” such as health and safety for work­ers, the envir­on­ment and fin­an­cial stand­ards. (The same goes for any sub­con­tract­ors a cor­por­a­tion or other pro­ponent hires to work on a project.) In addi­tion, Fed­eli must be con­vinced pro­ponents “do not pose a secur­ity risk” and he must con­sent to any change in the con­trol of a com­pany build­ing a project.

Also in regard to Ontario’s eco­nomy, the province is now allow­ing cer­ti­fied pro­fes­sion­als — includ­ing health­care work­ers, archi­tects, engin­eers, land sur­vey­ors and elec­tri­cians — from other Cana­dian jur­is­dic­tions to start jobs in Ontario shortly after arriv­ing.

They can work on a pro­vi­sional basis until their cer­ti­fic­a­tions are form­ally recog­nized by the rel­ev­ant Ontario reg­u­lat­ory author­it­ies. The change is inten­ded to help employ­ers in Ontario get the skilled work­ers they need.

Mean­while, Ontario is also tak­ing aim at drivers who get behind the wheel when they shouldn’t. Amend­ments to the High­way Traffic Act now impose life­time sus­pen­sions for any­one con­victed of impaired driv­ing caus­ing death.

Other meas­ures include man­dat­ory remedial edu­ca­tion for drivers after first­time alco­hol and drug occur­rences, longer road­side sus­pen­sions for driv­ing under the influ­ence, auto­matic man­dat­ory min­imum licence sus­pen­sions upon con­vic­tion for stunt driv­ing and life­time licence sus­pen­sions upon a third con­vic­tion for vehicle theft.

Addi­tion­ally crack­ing down on auto theft, a new offence under the High­way Traffic Act provides for fines up to $100,000 and six months in jail for know­ingly provid­ing a false vehicle iden­ti­fic­a­tion num­ber when selling an auto­mobile. That’s in addi­tion to a licence sus­pen­sion of up to a year. (Fur­ther changes pro­posed in Novem­ber under “Andrew’s Law,” but not yet passed by the legis­lature, would impose a life­time driv­ing ban for any­one con­victed of dan­ger­ous driv­ing caus­ing death.)

Also tak­ing effect in 2026:

■ For homeown­ers, the Muni­cipal Prop­erty Assess­ment Cor­por­a­tion will now be able to send assess­ment notices by email.

■ Updates to the Ontario Fire Code require homeown­ers and land­lords to install work­ing car­bon monox­ide detect­ors on every floor of a res­id­ence. Some detect­ors mon­itor for both smoke and car­bon monox­ide.

■ Par­ents receiv­ing Cana­dian Dis­ab­il­ity Bene­fits will no long have those pay­ments con­sidered as income when determ­in­ing eli­gib­il­ity for child­care­fee sub­sidies.

Spe­cial eco­nomic zones will open the door to back­room deals and insider giveaways, while Indi­gen­ous rights, envir­on­mental pro­tec­tions, worker rights and local demo­cracy suf­fer. MIKE SCHREINER ONTARIO GREEN PARTY LEADER

Focus­ing on energy might help in fight for cli­mate

This opinion was written by David Olive and was published in the Toronto Star on December 31, 2025.

In Mark Car­ney’s telling, he is still in the van­guard of fight­ing cli­mate change.

That asser­tion is, on the sur­face, dif­fi­cult to sus­tain given the prime min­is­ter’s appar­ent retreat on the cli­mate front.

Car­ney scrapped the national con­sumer car­bon tax soon after he became prime min­is­ter in March.

His “nation­build­ing” projects under con­sid­er­a­tion for fast­track­ing unveiled this year include fossil fuel devel­op­ments.

And the high­pro­file entente Car­ney nego­ti­ated between Ott­awa and Alberta in Novem­ber unwinds major cli­mate change policies of the Trudeau gov­ern­ment.

The con­tro­ver­sial “memor­andum of under­stand­ing” between the two gov­ern­ments effect­ively green­lights a second crude oil pipeline from the Alberta oilp­atch to the B.C. coast — a sis­ter to the Trans Moun­tain oil pipeline (TMX) that began oper­a­tions in 2024.

The TMX reduces Canada’s reli­ance on the U.S. mar­ket for oil exports. Almost half of its volume in its first year of oper­a­tion went to non­U.S. mar­kets, not­ably China.

The start­ing point for Car­ney’s energy policy might be an off­hand remark he made in one of sev­eral reveal­ing year­end tele­vi­sion inter­views he gave just before Christ­mas.

“I am a politi­cian, but I’m still a prag­mat­ist,” Car­ney told the CBC.

Canada con­tin­ues to fight cli­mate change, Car­ney asserts, but with a more prac­tical approach.

“Cli­mate change is con­tinu­ing remorse­lessly,” Car­ney said.

In address­ing it more effect­ively, “there is a moral imper­at­ive, a moral oblig­a­tion to future gen­er­a­tions,” Car­ney said. Act­ing on that imper­at­ive, in Car­ney’s view, requires more com­pre­hens­ive policies.

They con­sist, in a nut­shell, of ramp­ing up pro­duc­tion of both “clean energy,” with major invest­ments in hydro­elec­tri­city and nuc­lear power, and fossil fuels, because “the world is going to use hydro­car­bons for com­ing dec­ades” under every scen­ario experts put for­ward, Car­ney said.

For Car­ney the ques­tion is: “What kind of hydro­car­bons are going to be used?” The answer, he said, is “low cost, low risk, low car­bon. If Canada is going to con­tinue to sup­ply hydro­car­bons, it needs to be low car­bon.”

Mean­while, Car­ney said, “we’re going to grow clean energy in this coun­try at a scale never seen before.”

Is it pos­sible for Canada to become an energy super­power, a trans­form­a­tion that Car­ney has prom­ised Cana­dians, and still meet our net­zero emis­sions tar­gets for green­house gases?

In Car­ney’s vis­ion, squar­ing that circle is pos­sible with a new approach. That approach is to develop every kind of energy source, and to pair reg­u­la­tions with sig­ni­fic­ant invest­ment.

“We have too much reg­u­la­tion and not enough action,” Car­ney said of the energy policies he inher­ited.

And it’s true that with all the reg­u­la­tions, lim­it­a­tions and bans imposed on the energy sec­tor by the Trudeau gov­ern­ment, Canada is still far short of meet­ing its emis­sions reduc­tion tar­gets.

Car­ney vowed that his gov­ern­ment is “one hun­dred per cent focused on doing things that are going to reduce emis­sions.”

Those things are going to cost scores of bil­lions of dol­lars. They also prom­ise to gen­er­ate con­sid­er­able eco­nomic activ­ity.

They include low­car­bon liquified nat­ural gas plants (LNG), a new clean elec­tri­city grid in B.C., clean­power inter­ties between provinces, the mini­nuc­lear react­ors Ontario has under devel­op­ment, the world’s first zero­car­bon cop­per mine in Saskat­chewan, and a huge wind farm off the Nova Sco­tia coast.

Car­ney expects that most of the money for those trans­form­at­ive projects will come from the private sec­tor and not the pub­lic purse, a con­trast with the $34­bil­lion Ott­awa spent build­ing the TMX.

The memor­andum of under­stand­ing between Ott­awa and Alberta is something of a tem­plate. Alberta gets favour­able Ott­awa con­sid­er­a­tion of a second crude oil pipeline to the B.C. coast; removal of planned Trudeau­era caps on oilp­atch emis­sions; and a lift­ing of the fed­eral oil tanker ban off the B.C. coast.

In return, the Alberta oilp­atch builds a mult­i­bil­lion­dol­lar car­bon cap­ture and stor­age facil­ity that removes 16 mega­tons of car­bon from its oil and gas pro­duc­tion — roughly equal to tak­ing 90 per cent of Alberta’s cars and trucks off the road.

It also removes about 75 per cent of meth­ane emis­sions, a more potent con­trib­utor to cli­mate change than CO2. And the oilp­atch must pay more than six times the cur­rent indus­trial car­bon tax — an incent­ive to decar­bon­ize.

For Canada to pion­eer “decar­bon­ized” hydro­car­bons is, Car­ney said, “an enorm­ous oppor­tun­ity for this coun­try to leapfrog the United States.

“The United States has taken its eye off the ball on this — they’ve really down­graded it.”

So, the goal is to become a cleanen­ergy super­power, an advant­age over rival hydro­car­bon pro­du­cers the U.S., the Middle East and Rus­sia.

Much of the money to trans­form the Cana­dian energy sec­tor will come from abroad, Car­ney believes.

“Vir­tu­ally every­one wants to do more with Canada,” said Car­ney, who spent much of 2025 trav­el­ling in Europe, Asia Pacific, and the Middle East.

In addi­tion to Canada’s polit­ical sta­bil­ity, “we’re an increas­ingly con­fid­ent nation that has ambi­tions,” Car­ney said. “So, people want to deal with us.”

B.C. First Nations warn against chan­ging UN law

Lead­ers say move would `grind projects to a halt’

This article was written by the Canadian Press and was published in the Toronto Star on December 24, 2025.

First Nations lead­ers in Brit­ish Columbia have issued a joint state­ment cri­ti­ciz­ing calls to amend the pro­vin­cial Declar­a­tion on the Rights of Indi­gen­ous Peoples Act in response to a recent court rul­ing.

The state­ment is endorsed by more than 50 First Nations in B.C. and says recent talks of chan­ging legis­la­tion are a “fear­based response” from oppon­ents of the rul­ing “that reaf­firm the cru­cial need to con­sult and nego­ti­ate” with Indi­gen­ous com­munit­ies on min­ing rights. It calls for Brit­ish Columbi­ans to “slow down, take stock, and reflect” on the path for­ward, not­ing resort­ing to “fear­based reac­tions” risk undo­ing hard­won pro­gress on recon­cili­ation.

The state­ment says chan­ging the legis­la­tion would “grind projects to a halt” as First Nations may be forced to defend their rights through the courts.

The state­ment comes days after Kitasoo Xai’xais Nation chief coun­cil­lor Chris McK­night warned B.C. Premier David Eby he risks fuel­ling racism and los­ing the trust of the Indi­gen­ous com­munity if changes to the act are made.

The B.C. Appeal Court decision on a First Nations chal­lenge of the province’s min­ing ten­ure sys­tem gives effect to the United Nations Declar­a­tion on the Rights of Indi­gen­ous Peoples, and Eby has said changes to the law may be neces­sary.

Among those endors­ing the latest state­ment call­ing for B.C. to think care­fully about chan­ging the Declar­a­tion on the Rights of Indi­gen­ous Peoples Act are the B.C. Assembly of First Nations, the Union of B.C. Indian Chiefs and the First Nations Sum­mit.

The state­ment says the court decision affirms the need to con­sult and nego­ti­ate with First Nations, but a neg­at­ive nar­rat­ive has begun to take hold.

“This nar­rat­ive wrongly blames First Nations for uncer­tainty, while ignor­ing the his­tor­ical real­ity that Brit­ish Columbia was largely settled without treat­ies. It replaces facts and exper­i­ence with fear, and co­oper­a­tion with divi­sion,” the state­ment says.

“We call on Premier Eby to uphold the Declar­a­tion Act, res­ist calls to amend it or pur­sue appeals, and to sit down with Indi­gen­ous lead­er­ship to con­tinue the work of build­ing cer­tainty, trust, and eco­nomic prosper­ity for every­one in Brit­ish Columbia.”

Ottawa pushes toward scrapping ban on single-use plastic for exports

This article was written by Emma Graney and was published in the Globe & Mail on December 24, 2025.

The federal government has taken the next steps to scrap its looming ban on single-use plastic exports, though the Alberta government maintains that Ottawa should get rid of the domestic prohibition, too.

Ottawa published regulations to prohibit the manufacture, import and sale of single-use plastics in 2022, spurring a court challenge to the constitutionality of the rules. The federal government of the day said that items such as grocery bags, cutlery, stir sticks, straws and food takeout containers were environmentally harmful, and rolled out the domestic ban between 2022 and 2024.

The ban on exports was set to come into effect on Dec. 20 this year.

Instead, on Saturday, the federal government launched a 70day consultation period through the Canada Gazette on nixing the ban, saying that tariffs and global supply chain challenges are “creating significant pressure on the domestic economy.”

Environment Minister Julie Dabrusin announced in October that the government would no longer pursue the export ban, citing a review of the global policy landscape, trade conditions and domestic economic challenges.

“Most importantly, the export ban is not expected to lead to a net decrease in plastic waste with few peer countries following suit and many international buyers simply switching away from Canadian suppliers,” Ms. Dabrusin said in a statement at the time.

More than two dozen plastic makers joined forces in 2022 to ask the Federal Court to put an end to Ottawa’s ban on singleuse plastics. The following year, a judge ruled a federal decision to label plastics as toxic to be unreasonable and unconstitutional. (Ottawa appealed the decision, which is still making its way through the courts.)

The Alberta government was also part of the plastics court action. The province’s then-premier Jason Kenney argued that Ottawa had no real evidence that plastics are toxic.

“While the industry is investing massively in becoming more environmentally responsible, Ottawa – for, I think, political reasons – decided to say that plastics have the same risk as toxins like arsenic, which is clearly unscientific,” he told reporters at the time.

Rebecca Schulz, Alberta’s Environment Minister, congratulated Ms. Dabrusin in October when her federal counterpart announced the cancellation of the export ban – but noted her disappointment that the federal government is standing by the domestic prohibition.

Indeed, Ms. Dabrusin insisted in October that the domestic single-use plastics ban is working. “Canadians are seeing fewer plastic bags in trees, less Styrofoam containers on their beach walks and fewer wildlife being tangled in ring carriers,” she said at the time.

Ms. Schulz countered at the time that “silly statements about plastic bags and Styrofoam litter is divorced from reality,” adding there is no legal, policy, economic or scientific justification for the ban.

“The ban is an attack on Canada’s plastics industry – which employs thousands of Canadians and attracts billions in investment – while creating the plastics needed for every modern convenience, from surgical gloves to iPhones,” Ms. Schulz said in a statement.

As Ottawa marches toward nixing the export ban, leaving the domestic policy untouched, Ms. Schulz’s office said Tuesday that her position has not changed.

The Gazette released Saturday said that restricting access to global markets for single-use plastics would displace domestic producers in favour of competitors from other parts of the world. That in turn could drive production, investment and employment opportunities from Canada – but do little to reduce plastic pollution.

Removing the export ban would restore Canadian businesses’ access to international markets for single-use plastics, and “help re-establish economic opportunities curtailed under the prohibition.”

That’s particularly true for the highly trade-exposed plastic product manufacturing sector, which according to Ottawa generated $35-billion and supported roughly 85,000 jobs in 2023.

The sector is deeply integrated within North American supply chains, with roughly 94 per cent of Canada’s $14.9-billion in plastics exports in 2023 destined for the United States.

The export ban would have been particularly tough on small businesses.

An analysis by Dun & Bradstreet in November, cited in the Gazette, found that 82 per cent of the companies that retained the ability to manufacture and had access to the export market were small businesses with fewer than 100 employees or less than $5million in annual gross revenues.

N.S. wants companies to explore for onshore natural gas, could share profits with taxpayers

This article was written by Devin Stevens and was published in the Globe & Mail on December 23, 2025.

The Nova Scotia government says it’s ready for companies to start exploring for onshore natural gas, with the province saying it may take ownership stakes in drilling projects to potentially give taxpayers a share of the profits.

During a news conference Monday, officials said the government has tapped Dalhousie University to administer a program in which the school’s researchers and the private sector will study the estimated 198 billion cubic metres of onshore natural gas in the province.

The $30-million investment program will see the region’s largest university issue a call for exploration proposals in the first quarter of 2026. Companies, however, will still need regulatory approval from the Department of Energy before any drilling can begin, officials said.

“We’re ranked 59th out of 60 in [gross domestic product] across North America and we want to improve that,” Karen Doane, the province’s executive director of energy resource development, told reporters.

“We want the lives of Nova Scotians to improve. So we’re excited to use our own resources.”

The program will offer financial incentives to companies as they explore natural gas reserves with a commitment to share their findings with researchers. All the data will be part of a public research paper to be published before the end of 2026.

Operators will be able to apply for up to 100-per-cent reimbursement of their exploration expenses. Officials say the government may negotiate so that money becomes an equity investment, or it may sign royalty agreements. Either way, they say any government income will “disproportionately” be reinvested into local communities.

Taking ownership in a resource company is not unheard of in Canada. Ms. Doane pointed to Newfoundland and Labrador’s provincially owned OilCo, which retains percentages of the Hibernia, Hebron and White Rose offshore oil projects, as one such example.

Officials say any wells that don’t produce natural gas could be assessed for other uses such as geothermal energy or research and development on carbon capture and storage.

About 64 per cent of the Nova Scotian onshore reserves outlined in a 2017 government report are made up of shale gas, the kind usually requiring fracking to extract in commercial quantities. About 20 per cent of Nova Scotia’s reserves are coal bed methane with the rest conventional natural gas.

The Progressive Conservative government lifted a decade-long embargo on fracking, also known as hydraulic fracturing, in March but Ms. Doane said that doesn’t mean the companies involved will necessarily use the technique opposed by environmentalists and First Nations.

“So just because you drill an onshore petroleum well, doesn’t necessarily mean you have to use hydraulic fracturing technology. You don’t know that until you actually drill a well,” she said.

In lifting the fracking ban, Premier Tim Houston had said the province needed to exploit its natural gas and other resources to better withstand economic challenges from the United States, including President Donald Trump’s tariffs. Mr. Houston has since named himself Energy Minister but was not at Monday’s announcement.

When the ban was lifted, the Assembly of Nova Scotia Mi’kmaq Chiefs called out the Premier for a lack of consultation and have said they may seek a legal injunction.

As part of the new program, Dalhousie will be tasked with setting up an oversight committee composed of academics, the public, government, the private sector and First Nations. The school’s acting vice-president of research and innovation, Graham Gagnon, said it has yet to reach out to the Mi’kmaq. He noted that the outreach will be handled by John Sylliboy, Dalhousie’s first vice-provost of Indigenous relations, a position created earlier this year.

Nova Scotia has had mixed results on resource development since the government made it a priority after the last election. The private sector has shown some interest in wind and hydrogen development but when the province lifted a ban on uranium mining earlier this year, no companies responded to a call for proposals.

The Sable and Deep Panuke offshore gas projects generated billions of dollars in royalties for the province but were shut down in 2018 after 25 years of exploration and development. There’s been little interest from the private sector in the province’s offshore sector since. The government issued a new call for proposals in the summer, which closes in April.

There’s about 90 billion cubic metres of gas confirmed to exist on the Scotian shelf and a potential for more than 10-times that amount, the province says.

About 64 per cent of the Nova Scotian onshore reserves outlined in a 2017 government report are made up of shale gas, the kind usually requiring fracking to extract in commercial quantities. About 20 per cent of Nova Scotia’s reserves are coal bed methane with the rest conventional natural gas.

Winds leave thou­sands power­less Down East

This article was written by the Canadian Press and was published in the Toronto Star on December 21, 2025.

HALIFAX Tens of thou­sands of people were without power across Atlantic Canada on Sat­urday after a storm with high winds pum­melled the region.

Nova Sco­tia’s largest util­ity said in a state­ment its crews have been work­ing through chal­len­ging con­di­tions to restore power as winds reach­ing up to110 km/h hit much of the province, caus­ing dam­age Fri­day even­ing and into the early hours of Sat­urday.

Nova Sco­tia Power said hur­ricane­force wind gusts hit 120 km/h in parts of Cape Bre­ton.

Pam Scully­Poir­ier, the util­ity’s storm lead, said more than 600 people were work­ing in the field, with hun­dreds more behind the scenes to restore power. As of 8 a.m. Sat­urday, about 186,000 cus­tom­ers were in the dark. That num­ber dropped to about 37,000 by 3:30 p.m. and was down to just over 11,000 by Sat­urday even­ing.

“We want our cus­tom­ers to know we are doing everything we can to get their power back on. Along with our crews in the field, we’ll also be using a heli­copter to patrol power lines in dif­fer­ent parts of the province today to look for dam­age,” Scully­Poir­ier said in the state­ment.

In New Brun­swick, more than 17,500 NB Power cus­tom­ers were without elec­tri­city by Sat­urday night, down from 54,000 earlier in the day.

In New­found­land, the major util­ity repor­ted more than 500 people were still in the dark by late Sat­urday, down from 5,000.

In Prince Edward Island, Mari­time Elec­tric said the num­ber of cus­tom­ers without power dropped from 1,200 to 150 by 3:30 p.m. and was down to seven by 9:30 p.m.

Envir­on­ment Canada had issued weather warn­ings in all four provinces on Fri­day, say­ing winds up to 100 km/h could hit New­found­land and New Brun­swick’s Fundy shore.

Envir­on­ment Canada had issued weather warn­ings in all four provinces on Fri­day, say­ing winds up to 100 km/h could hit New­found­land and New Brun­swick

Shaped by his envir­on­ment?

The prime min­is­ter’s polit­ical jour­ney from cli­mate `vis­ion­ary’ to pipeline pro­moter

Mark Carney makes a keynote address to launch the private finance agenda for the 2020 United Nations Climate Change Conference (COP26) in 2020 in London. Carney had built a reputation as the ultimate ethical banker, one able to marry economic and environmental interests in the service of stopping global warming, Allan Woods writes.

This article was written by Allan Woods and was published in the Toronto Star on December 21, 2025.

When Mark Car­ney arrived on the Cana­dian polit­ical stage, Richard Brooks’s col­leagues sought out his pro­fes­sional opin­ion.

Would they be deal­ing in the Lib­eral prime min­is­ter with a friend of the envir­on­ment or a foe?

Brooks, the head of cli­mate fin­ance with Cana­dian advocacy group Stand.Earth, has fol­lowed Car­ney’s met­eoric rise over the past dec­ade from staid cent­ral bank gov­ernor to global cli­mate guru to the Prime Min­is­ter’s Office.

“I regret it now,” he recalled in an inter­view, “but I said at the time, `If there’s one per­son that an envir­on­ment­al­ist or a cli­mate act­iv­ist would choose to be the head of (gov­ern­ment), who under­stands cli­mate issues … Mark Car­ney would be at the top of the list.”

Car­ney had an intim­ate under­stand­ing of how eco­nom­ies work, hav­ing served as gov­ernor of the Bank of Canada dur­ing the 2008 fin­an­cial crisis, then as gov­ernor of the Bank of Eng­land dur­ing Brexit.

He went on to serve as the United Nations spe­cial envoy for cli­mate action and fin­ance, and con­vinced some of the world’s largest fin­an­cial com­pan­ies to endorse a car­bon­neut­ral world by 2050 under the Glas­gow Fin­an­cial Alli­ance for Net Zero.

To Brooks’s mind, Car­ney knew about mar­ket forces and was a true believer in the need to move away from fossil fuels and toward lowe­mis­sion energy sources.

“My opin­ion was based on his his­tor­ical record and what he had said pre­vi­ously,” Brooks said. “The truth is that I think his val­ues have always been about being a banker first and fore­most, and an invest­ment banker in par­tic­u­lar, and those val­ues have been about mak­ing money.”

That word— “val­ues” — is an import­ant one, and not just because it was the title of Car­ney’s 2021 book about “a com­mon crisis in val­ues and (the) rad­ical changes … required to build an eco­nomy that works for all.”

Car­ney has built a repu­ta­tion over the past dec­ade as the ulti­mate eth­ical banker, one able to marry eco­nomic and envir­on­mental interests in the ser­vice of stop­ping global warm­ing.

In 2015, he was hailed as a vis­ion­ary when he warned of the loom­ing cli­mate “tragedy” and the urgent need to drive the bank­ing, invest­ment and insur­ance sec­tors toward activ­it­ies that would save the planet rather than rav­age it.

In 2025, he squandered some of that good faith in strik­ing a deal that con­di­tion­ally backs increased oil pro­duc­tion, weaker reg­u­la­tions and a con­tro­ver­sial pipeline that would take pet­ro­leum from the Alberta oils­ands to the west coast for Asian mar­kets.

The memor­andum of under­stand­ing with the Alberta gov­ern­ment is premised upon devel­op­ment of the Path­ways car­bon cap­ture and stor­age pro­gram, which would pipe harm­ful green­house gas emis­sions under­ground.

Car­ney made the announce­ment in Cal­gary along with Alberta Premier Dani­elle Smith, declar­ing, “This is Canada work­ing.”

The agree­ment main­tains the ulti­mate com­mit­ment to mak­ing Canada car­bon neut­ral by 2050. But it promp­ted the resig­na­tion from cab­inet of Steven Guil­beault, a vet­eran cli­mate act­iv­ist. The Montreal MP warned that the deal could increase emis­sions and was part of a lar­ger dis­mant­ling of Canada’s exist­ing cli­mate change plan.

The Prime Min­is­ter’s Office did not respond to requests for com­ment on this art­icle.

Car­ney said in a year­end inter­view with Radio­Canada that his dif­fer­ences with Guil­beault were not about need to cut emis­sions, but about how to do so. His approach is based not on reg­u­la­tions and restric­tions but on attract­ing invest­ment in tech­no­lo­gies like car­bon cap­ture and stor­age while boost­ing the use of nuc­lear power and renew­able energy.

“I have ded­ic­ated most of my career to envir­on­mental issues,” he told Radio­Canada. “I know how we can reduce green­house gases and what invest­ments will be neces­sary to reduce green­house gases.”

It was a “trust me” response to an issue on which there is little good faith.

Ahead of the Alberta deal, Car­ney secured the sup­port of Green Party Leader Eliza­beth May for his first budget with the the prom­ise that enhanced oil recov­ery activ­it­ies — pump­ing gases under­ground to retrieve addi­tional oil — would not be eli­gible for a fed­eral tax credit.

Then he prom­ised Alberta the exact oppos­ite.

“The prime min­is­ter’s word doesn’t mean much, even to him,” May told the CBC.

There is a char­it­able view that sees Car­ney as adapt­ing to unex­pec­ted chal­lenges and real­it­ies of Cana­dian polit­ics.

He leads a minor­ity gov­ern­ment in the House of Com­mons. He leads a frac­tious fed­er­a­tion in which pro­vin­cial demands and threats are the com­mon cur­rency. He’s try­ing to steer a national eco­nomy through the eco­nomic mine­field of U.S. Pres­id­ent Don­ald Trump’s trade tar­iffs.

But Car­ney him­self has been something of a Net Zero zealot, with little sym­pathy for those mak­ing excuses to defer cli­mate action.

In 2022, he said the Rus­sian inva­sion of Ukraine, which caused energy prices to spike across Europe, was no reason to delay or aban­don emis­sion­reduc­tion efforts. Con­tin­ued global warm­ing would entail “future costs that will dwarf cur­rent hard­ships,” he said.

“We know the cli­mate doesn’t care why emis­sions hap­pen, only how much occur. The more we emit now, the more rad­ical action will be needed later. We need to speed up, not slow down.”

A year later, in 2023, U.K. prime min­is­ter Rishi Sunak said he was put­ting off emis­sions reduc­tion meas­ures, includ­ing push­ing back an elec­tric vehicles man­date by five years, because the impact on the pop­u­la­tion would be too high in a cost­of­liv­ing crisis.

Car­ney said the decision was “dis­ap­point­ing and mis­taken,” and would muddle the sig­nals to mar­kets and investors who are look­ing to do busi­ness in clean­energy coun­tries.

Car­ney’s inter­na­tional cli­mate prom­in­ence and cred­ib­il­ity came from the lofty pul­pit from which he pro­nounced. Rarely had such a key

We know the cli­mate doesn’t care why emis­sions hap­pen, only how much occur. The more we emit now, the more rad­ical action will be needed later. We need to speed up, not slow down.

MARK CARNEY IN 2022 AFTER RUSSIA INVADED UKRAINE

player in the risk­averse global eco­nomy been so will­ing to stick their neck out on envir­on­mental mat­ters.

What pro­pelled him was the 2015 Paris Accord and the global push to achieve car­bon neut­ral­ity (dubbed “net zero”) by 2050.

His first real act of cli­mate advocacy was a 2015 speech as gov­ernor of the Bank of Eng­land, in which he pushed for a pub­lic account­ing of the cli­mate risks to which fin­an­cial insti­tu­tions were exposed so that they could then be factored into busi­ness and invest­ing decisions.

It was Car­ney’s “Field of Dreams” the­ory: pub­licly identify low­emis­sion invest­ments and the self­inter­ested investors would surely come.

It was “ground­break­ing stuff,” said Charlie Kronick of Green­peace U.K., call­ing Car­ney a “vis­ion­ary” com­pared to his cent­ral banker col­leagues and pre­de­cessors.

As a gov­ern­ment appointee, he could only make recom­mend­a­tions, not law. But he did act where he could, intro­du­cing in 2019 cli­mate stress tests for reg­u­lated Brit­ish fin­an­cial insti­tu­tions.

“Firms that align their busi­ness mod­els to the trans­ition to a net­zero world will be rewar­ded hand­somely. Those that fail to adapt will cease to exist,” he warned in a speech at the time.

A few months later, Car­ney was named the UN spe­cial envoy for cli­mate action and fin­ance, a sign of his grow­ing influ­ence and appre­ci­ation.

The stress test­ing was an import­ant ini­ti­at­ive that was widely copied in other coun­tries, said Uni­versity of Oxford’s Ben Cal­de­cott, dir­ector of the Oxford Sus­tain­able Fin­ance Group.

“That actu­ally did a lot of work in terms of get­ting big insti­tu­tions to do things dif­fer­ently and to lay the found­a­tions for an ana­lyt­ics industry, I sup­pose, in this area that has become very help­ful,” Cal­de­cott said.

After his Bank of Eng­land term ended, Car­ney became an adviser to U.K. prime min­is­ter Boris John­son ahead of the 2021 cli­mate change sum­mit in Glas­gow. The sen­ti­ment at that global meet­ing was per­haps best summed up by the late Queen Eliza­beth II, who was over­heard com­plain­ing of world lead­ers, “It’s very irrit­at­ing when they talk but they don’t do.”

But one source of hope was the Glas­gow Fin­an­cial Alli­ance for Net Zero (GFANZ), a group of fin­an­cial insti­tu­tions that had pledged to reach car­bon neut­ral­ity by 2050. Car­ney was the alli­ance’s chair.

He earned a splashy head­line at the Glas­gow cli­mate con­fer­ence with a news release stat­ing that “$130 tril­lion of private cap­ital is com­mit­ted to trans­ition­ing the eco­nomy for net zero.”

The ini­tial excite­ment and adu­la­tion turned to egg on Car­ney’s face when he was forced to admit that the enorm­ous sum he cited was the value of the assets the com­pan­ies in his coali­tion con­trolled, not the amount they were com­mit­ting to the cre­ation of a cooler planet.

In fact, hun­dreds of bil­lions of dol­lars were inves­ted in fossil fuel indus­tries.

“That didn’t come from any­one but him,” said Cal­de­cott, who helped organ­ize the Glas­gow sum­mit. “That was his line. That’s what he wanted to com­mu­nic­ate, des­pite advice to the con­trary and, you know, that was very mis­lead­ing and set expect­a­tions at an incred­ibly high level.”

Ulti­mately, aca­demic ana­lysis of Car­ney’s push to have fin­an­cial insti­tu­tions dis­close their cli­mate risks showed that it largely failed to drive invest­ment away from car­bon­intens­ive activ­it­ies.

Brooks recalled a testy con­fer­ence call at the Glas­gow cli­mate sum­mit in which Car­ney con­fron­ted those who were cri­ti­ciz­ing GFANZ for not hav­ing set stricter con­di­tions for mem­ber­ship.

“What I recall from that con­ver­sa­tion was this level of arrog­ance that his way was the right way,” Brooks said.

He said Car­ney argued the greater the num­ber of fin­an­cial insti­tu­tions mak­ing the net­zero pledge, “the greater the chance that the waters will rise all boats.”

“What we ended up see­ing in the end is many of the big­ger fin­an­cial insti­tu­tions who were heav­ily invest­ing or fin­an­cing fossil fuels … were basic­ally pulling the plug out of the bathtub and lower­ing the water.”

Trump’s re­elec­tion as U.S. pres­id­ent promp­ted Amer­ican banks to flee the net­zero alli­ance. Cana­dian banks soon fol­lowed. Car­ney him­self resigned his vari­ous lead­er­ship pos­i­tions when he entered fed­eral polit­ics in early 2025 with a pledge to scrap prime min­is­ter Justin Trudeau’s con­tro­ver­sial car­bon tax.

In Octo­ber, the remain­ing mem­bers of the Net Zero Bank­ing Alli­ance, a GFANZ sub­si­di­ary Car­ney had hailed in 2021 as “the break­through in main­stream­ing cli­mate fin­ance the world needs,” voted to dis­band.

Now, the man who warned about the cli­mate tragedy lurk­ing on the hori­zon, has some con­tem­plat­ing a dif­fer­ent sort of tragedy, one of unreal­ized prom­ise, of a true believer poten­tially tain­ted by real­politik.

How to recon­cile the Car­ney who, in a 2020 speech, pitched the low­car­bon eco­nomic trans­ition as “the greatest com­mer­cial oppor­tun­ity of our time” with the one doub­ling down on the Alberta oils­ands, back­ing pipelines, scrap­ping clean elec­tri­city reg­u­la­tions and prom­ising fossil fuel sub­sidies?

“It’s hard to know the real­it­ies of gov­ern­ment and doing those sorts of jobs. I do have sym­pathy for the need to make com­prom­ises some­times,” said Cal­de­cott. “He’s still early in his premi­er­ship. Can he turn things around? I hope he can. We all hope he can.”