(Bloomberg) — Brookfield Asset Management and Mark Carney have been targeted by a member of Canada’s Conservative Party who wants Canada’s lobbying watchdog to investigate them.
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Conservative lawmaker Michael Barrett asked the commissioner of lobbying to “examine the activities” of Carney to see whether they comply with government rules.
The former central banker recently agreed to act as an adviser to Prime Minister Justin Trudeau’s Liberal Party on economic policy. Conservatives have argued there’s a conflict between that role and his job at Brookfield, a global alternative asset manager.
Carney is Brookfield’s chair and head of transition investing, and has helped spearhead the firm’s money-raising efforts for funds that invest in clean technology and decarbonization.
Barrett’s letter doesn’t mean the lobbying watchdog will take action. Carney’s advisory position is with a political party, not the government, and it’s unlikely his work would actually fall under the purview of Canada’s Lobbying Act. But the complaint is another signal of the political heat being applied to Carney and Brookfield by the Conservatives, who hold a large lead over the Liberals in public opinion polling.
The letter alleges that Carney’s policy work for the Liberals has the potential to put government officials in an awkward position in any discussion that might relate to Brookfield. As one example, the lawmaker pointed to a news report that Brookfield has pitched a new investment fund that would take capital from Canadian pension funds and the federal government.
Barrett asked the lobbying commissioner to open a formal investigation, if necessary, that would extend to Brookfield’s “acquired companies and subsidiaries.”
Cabinet minister Karina Gould said the Conservatives were simply making a “personal attack.”
“There is a reason why Canadians who have global recognition are working to support a progressive vision of this country,” she said in the House of Commons. “But what we see from the Conservatives is that when Canadians or organizations do not support them, all they do is attack.”
In a statement emailed by a spokesperson, Carney said his work with the Liberals is a volunteer role, and that “it’s commonplace for all political parties to seek broad input and outside ideas.”
“I have long balanced public and private duties with integrity and in compliance with all applicable rules in my various roles, and am confident I will do so in my role as Chair of the Leader’s Task Force on Economic Growth as well,” Carney said.
Along with his Brookfield jobs, Carney holds several other corporate and philanthropic positions, including chair of Bloomberg Inc.
He’s the former governor of the Bank of Canada and Bank of England, and is the United Nations special envoy for climate action and finance.
(Updates with statement from Mark Carney.)
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