Prime Minister Mark Carney Promotes Foreign Investment While Advancing a Controversial Green Taxonomy

Prime Minister Mark Carney has launched a public appeal for international investors to consider Canadian companies, listing firms such as Rogers, Bell, Air Canada, Canadian Tire, Shopify, and others. At the same time, the federal government is moving forward with a voluntary “green taxonomy” intended to align capital flows with Canada’s net-zero-by-2050 target, a framework that critics say could restrict financing for traditional resource and manufacturing sectors.

Carney calls on world to invest in one of Canada’s 6 companies

Canada’s taxonomy project is modeled loosely on the European Union’s legally binding taxonomy, though initial reports suggest the Canadian version will be voluntary. Both systems share the goal of directing investment toward activities that support a net-zero economy by 2050. Analysts note that such classification schemes can make it more difficult for companies in industrial and natural-resource industries to attract capital, potentially reshaping the country’s export-oriented sectors.

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Edgar Bryce, manager of the European hedge fund Marshall Brevan Capital, described the opportunities as “many exciting opportunities” and noted that Canadian utilities and grocery firms appear to operate with “little government-protected money-printing fiefdoms,” implying high upside for investors.

Carney calls on world to invest in one of Canada’s 6 companies

• “Canada has a thriving economy and highly competitive business environment, with many exciting industries and businesses to invest in. We’ve got Rogers, Bell, Air Canada… ummm… Canadian Tire?” — Mark Carney, prime minister

Carney calls on world to invest in one of Canada’s 6 companies

• “Oh and Shopify! Don’t forget Shopify. They’re still Canadian, right?” — Mark Carney, prime minister

Carney calls on world to invest in one of Canada’s 6 companies

• “You guys remember RIM? The Blackberry? Super ahead of its time. That was Canadian too. Nortel. Can’t forget about Nortel. Oh they went bankrupt?” — Mark Carney, prime minister

Carney calls on world to invest in one of Canada’s 6 companies

• “But I mean hey, you don’t have to just invest in what’s already here, you could start a completely new business. Just as long as you don’t compete with any Canadian businesses obviously,” — Carney. International

Carney calls on world to invest in one of Canada’s 6 companies

• “There are many exciting opportunities here,” — Edgar Bryce, manager of the European hedge fund Marshall Brevan Capital

Carney calls on world to invest in one of Canada’s 6 companies