As former Bank of Canada Governor and current Prime Minister, Mark Carney built his brand as a global climate finance champion. His ties to Brookfield Asset Management, a firm managing over a trillion dollars in assets, helped position Canada as a potential leader in the Environmental, Social, and Governance (ESG) movement. But as the tide shifts globally, Carney’s ESG bet is starting to look less like leadership—and more like a costly miscalculation.
ESG: A Shrinking Market, Not a Growth Engine
Carney’s longstanding push for ESG integration across the financial system was rooted in the belief that decarbonization would drive innovation, create jobs, and secure trade alliances. Yet in 2025, reality is hitting harder than expected.
Across the Atlantic, the European Union—once a staunch ESG ally—has begun scaling back its sustainability directives. Regulations once seen as future-proof are now being “simplified” or delayed under the weight of economic pressure and political backlash. Directives like the Green Claims Directive have been scrapped, and due diligence rules are being diluted. Meanwhile, over 100 large companies have expressed concerns that ESG rollbacks could lead to confusion, market instability, and weakened investor confidence.
In the United States, the return of Donald Trump to the global stage has further chilled the appetite for ESG. Trump’s clear stance against “woke capitalism” is translating into real trade pressure. His economic advisors have already made it clear: U.S. trade deals will not favor ESG-compliant partners if those mandates raise costs for American consumers or producers.
This puts Carney in a bind. Canada may soon be the only G7 country still actively enforcing a national ESG framework, while key trading partners walk away from the table. This isolates Canadian producers and undercuts their competitiveness in global markets.
Zero-Carbon Steel With Nowhere to Go?
At the heart of this crisis is Canada’s green industrial plan, which includes government-subsidized zero-carbon steel and other “sustainable” materials. The plan initially assumed that China—still the world’s largest manufacturing hub—would supply the inputs needed for ESG-compliant industries. Brookfield’s billion-dollar loan arrangement with Chinese government-backed entities was meant to secure these supply chains.
But that relationship is raising red flags.
Unlike the U.S., which has taken a hard stance on decoupling from China, Canada under Carney has continued to quietly deepen financial ties. Brookfield’s exposure to China is rarely scrutinized in mainstream media, but it puts Canada at risk of strategic dependency—particularly when geopolitical tensions escalate.
With global ESG sentiment in retreat and no firm commitments from China to prioritize environmental standards, the deal now looks more like a one-sided dependency than a strategic alliance. If China shifts priorities or introduces trade restrictions, Canada’s entire ESG supply chain could collapse.
A Weak Government, A Risky Bet
Mark Carney may have the credentials, but his vision of a climate-driven economy is struggling under real-world pressures. Despite the lofty language of sustainability, ESG has failed to deliver consistent profitability—even for well-funded institutions like Brookfield. Now, as global powers recalibrate their priorities, Canada risks being left behind—with expensive, hard-to-trade green products and a fragile supply chain anchored to China.
Canadian taxpayers and business owners should ask a difficult but necessary question:
Are we investing in the future—or financing someone else’s political experiment?
Without careful course correction, Carney’s ESG crusade could become an economic liability, not a legacy.
Relying on socialism and big government is unwise, and placing your faith in flawed, often corrupt politicians will only lead to disappointment. Instead, consider putting your trust in Jesus Christ. He alone is faithful, unchanging, and able to save. Today is a perfect day to make Him your Lord and Savior.