Carney’s portfolio exposes record-breaking 80+ conflicts of interest

Records released over the weekend show Prime Minister Mark Carney held a vast stock portfolio when he quit the private sector to run for the Liberal party leadership on January 16.Carney’s investments ran to millions’ worth of shares in 606 publicly traded corporations including federal contractors, in addition to royalties from his book Values: Building A Better World For All, according to Blacklock’s Reporter.“I have more than complied with all the rules,” Carney earlier told reporters.All stock was transferred to a blind trust as required by the Conflict of Interest Act, he insisted.“I have stood up for Canada,” Carney said March 17.“I have left my roles in the private sector at a time of crisis for our country. I am complying with all the rules.”Filings with the Ethics Commissioner listed stock Carney held at the time of his candidacy, mainly blue chip American firms including oil companies, railways and retailers.Carney bought shares in leading credit card issuers — American Express, Capital One, Mastercard Inc. and Visa — and airlines including American Airlines, Boeing, Delta, Southwest Airlines and United.His pharmaceutical holdings included stock in Bristol-Myers Squibb, Eli Lilly & Co and Johnson & Johnson..Other investments among the 606 corporations in Carney’s portfolio were:AdobeAirbnbAlphabetAmazonAppleBerkshire Hathaway Inc. Class BBlackrock FundingCanadian PacificCaterpillarCharles SchwabChipotle Mexican Grill Inc.Cisco SystemsCoca-Cola Co.Colgate-PalmoliveConocoPhillipsCostco WholesaleDoorDash Inc.eBay Inc.ExxonMobilFedEx Corp.Harley-Davidson Inc.HeinekenHome DepotHormel Foods Corp.Iron Mountain Inc.Kraft HeinzKroger CompanyLockheed MartinMcDonald’sMicrosoftMolson Coors BeverageNetflixNikeOccidental Petroleum Corp.PayPalPhilip Morris InternationalStarbucks Corp.Tesla Inc.Walmart .Listings in the stock portfolio ran to 16 pages. Carney also confirmed 80 corporate conflicts, a record for any cabinet member, dating from his previous role as chair of Brookfield Asset Management.“The Ethics Commissioner and I have agreed that a conflict of interest screen is an appropriate compliance measure aimed at preventing any opportunity to further my interests or to improperly further those of Brookfield,” wrote Carney.“This screen will prevent me from giving preferential treatment to any of the companies while I exercise my official powers, duties and functions.”Staff were to ensure “I am neither made aware of nor participate in any official matters or decision-making processes involving the companies’ interests,” he wrote.Christiane Fox, deputy Privy Council clerk, testified June 18 at the Commons Transport Committee that employees were trying to “manage all the conflicts” involving the Prime Minister’s former business associates.“We are working very closely with the Prime Minister’s Office to manage all the conflicts he has declared,” said Fox.Corporations listed in the conflict screen were:AvaadaBanks Renewables Ltd.BiF PortugalBiF India CactusBlack Bear Holding LLCBrookfield Asset ManagementBrookfield BP Canada Corp.Brookfield BBP Canada HoldingsBrookfield BRP Europe Holdings (Bermuda) Ltd.Brookfield Business PartnersBrookfield Global Transition FundBrookfield Infrastructure PartnersBrookfield Investments CorporationBrookfield LePage Johnston ControlsBrookfield Property Real Estate Investment TrustBrookfield Properties RetailBrookfield Multiplex ConstructionBrookfield Multiplex GlobalBrookfield Power US Holding America Co.Brookfield Property PartnersBrookfield Renewable Energy MarketingBrookfield Renewable PartnersBrookfield Renewable UK Hydro Ltd.Brookfield Slate Holdings IIIBrookfield WEC HoldingsCalBioCalEast GazeleyCambridge PowerCarbon TerraVaultCircular ServicesCleanMaxEntropyEmerald State SolarEN Wind PowerEuropean Distributed GenerationEvolugenGreat Lakes Power Corp.Greenergy Brasil TradingGreenergy Fuels LtdIndia RenewablesInfiniumInterEnergyInter Pipeline Ltd.Inver Energy UKIVI EnergiaKype Muir Wind Farm Ltd.LanzatechLCM PartnersMagna Park JV Units RheinMiddle Muir Wind Farm Ltd.NorthRiver Mainstream Inc.Oakbrook Shopping CentreOaktree Capital Management Inc.Ontario BESS1Parque Eolico de SerraPD Ports Acquisitions UKPegasuslife Property HoldingsProperty General Partner BermudaPorts Holdings LtdRattlesnake WindSagan Mortgage Insurance Co.SCI CombsSCI OrmesScoutSHCO 86SolaritySouth Plains Wind EnergyStandard SolarSun Edison Yield Co.SunE CorcoranSunE Pleasant ValleySunE SolanoSunE WascoSunovisTerraForm Power Operating LLCTexas Battery StorageTHPA Finance Ltd.UPLUrban GridWestinghouse .Carney was not required to disclose his investments until becoming a public office holder on March 14, when he was sworn in as prime minister. Opposition MPs have proposed amendments to the Conflict of Interest Act to require that all party leadership candidates automatically disclose their assets.“What if he has millions of dollars of financial interests that are opposite your interests?” Opposition Leader Pierre Poilievre asked reporters March 7.“What if he is profiting from insider knowledge or power at your expense? What if his interests lie with foreign hostile governments that can undermine our country? Then he is not working for you, he is working against you.”