As Mark Carney’s political star rises among Canada’s Liberals, the grand technocratic climate project he helped build is collapsing under its own weight. While many in the Liberal Party and legacy media fawn over Carney as the supposed saviour of the battered Liberal brand Justin Trudeau left, they ignore the wreckage of GFANZ (Glasgow Financial Alliance for Net Zero), the global financial coalition Carney spearheaded.
However, the Liberals are not oblivious—some might be, but many choose to look away. They see the cracks in Carney’s ideology, their ideology, and they see GFANZ unravelling. Yet, they pretend it isn’t happening because they need their ideological bubble to remain intact, and they need him to survive politically. For them, it’s not about governing well or their professed mission to save the planet—it’s about staying in power for a little longer.
It’s a desperate bet that might cost them dearly in the long run.
Climate Finance is an instrument of control. When Carney founded GFANZ in 2021, the ambition was clear: (1) Transform financial institutions into climate enforcers, ensuring capital only flowed to projects aligned with net-zero goals. (2) Use regulations and financial incentives to steer investments away from fossil fuels, and (3) Enshrine climate risk as financial risk, embedding green ideology deep within the global economy.
