Mark Carney, formerly a central banker, is poised to become Canada’s Prime Minister, succeeding Justin Trudeau as leader of the Liberal Party. He will navigate critical issues such as a trade dispute with the U.S. and the country’s efforts to combat climate change.
Elections must be held by October 20th, but could occur sooner. Regardless of which party wins, the next few years are crucial for Canada’s climate goals. The nation needs to cut emissions significantly from 2005 levels to meet its international obligations, according to Environment and Climate Change Canada.
Carney, drawing from his financial expertise, has become a prominent figure in climate action, connecting the financial world with the fight against climate change.
What is Mark Carney’s Climate Background?
Since leaving the banking sector, Carney has strived to engage the private sector in achieving net-zero emissions, calling the green transition “the greatest commercial opportunity of our time” at a 2020 event in London.
In 2019, he was appointed U.N. Special Envoy for Climate Action and Finance, and in 2021, he established the Glasgow Financial Alliance for Net Zero, an initiative designed to unite financial institutions in supporting the transition to a net-zero economy.
His tenure at the Bank of England from 2013 to 2020 heightened his awareness of the climate crisis. He stated in a 2021 with the United Nations: “When I became governor of the Bank of England, which oversees the insurance industry, I saw that the number of extreme weather events had tripled and the cost of those events had gone up five times in a quarter century. These things really concentrated my mind on climate.”
What Would His Climate Goals Be as Prime Minister?
Carney’s campaign has outlined several climate-focused economic initiatives.
Initially, Carney intends to eliminate Canada’s consumer carbon tax, which imposes fees on consumers using fossil fuels, arguing that it burdens consumers instead of major polluters. He stated in his March 9th victory speech: “When I see that something’s not working I will change it. So my government will immediately eliminate the divisive consumer carbon tax on families and farmers and small and medium-sized businesses.”
Instead, he proposes financial incentives to make environmentally friendly choices, such as energy-efficient appliances or electric cars, more accessible to consumers.
He also advocates for federal permitting reform to expedite the approval of clean energy projects and measures like improving to better reward high emitters that reduce their greenhouse gas emissions.
Carney also promises to phase out fossil fuel use in federal buildings by 2030 and expand the country’s electric vehicle charging infrastructure.
What is Pierre Poilievre’s Climate Stance?
Both Carney and Pierre Poilievre, whose Conservative Party is expected to contend against Carney’s Liberal Party in the upcoming election, advocate for the removal of Canada’s carbon tax.
Poilievre has centered his political career on his “Axe the Tax” campaign, attributing it to the country’s cost-of-living issues. However, unlike Carney’s proposed green alternative, Poilievre and the Conservatives support expanding oil and gas production in Canada.
Poilievre has also opposed significant climate initiatives, including a cap on oil and gas pollution and the mandating a across Canada by 2035.
Throughout his 20 years as an MP, he has seldom voted in favor of climate initiatives, supporting environmental protection measures only 13 times, according to an analysis of his voting record by . This includes votes on protecting whales and ensuring clean drinking water for First Nations, compared to his 400 anti-climate votes over the same period.
