Environment Minister Steven Guilbeault “received zero dollars” from his personal shares in subsidized green energy firm Cycle Capital Management, claimed its managing partner.However Guilbeault’s own ethics filings show he drew income from Cycle Capital while in cabinet, per Blacklock’s Reporter. “I am a dedicated ecologist and that is why I know Steven Guilbeault, not because he is a minister,” Andrée-Lise Méthot on Monday told the Commons Public Accounts Committee.“He’s an advocate. I am an advocate.”“It was said Steven Guilbeault was a major shareholder when he had no shares in Cycle Capital,” she said, adding criticism that Guilbeault benefited from Cycle Capital subsidies was unfounded.“Could you just confirm Mr. Guilbeault has no stock or stake in the company Cycle Capital?” asked Liberal MP Valerie Bradford.“Yes, I am confirming Steven Guilbeault has no shares,” replied Méthot.“He has what I would call a passive interest. It’s like an amount that is paid out when there is very high performance. To date Mr. Guilbeault has received zero dollars from this passive interest. He is not an investor. Mr. Guilbeault is not an investor. He has no shares, nothing.” .Guilbeault ignores summons to appear before Commons Transport Committee.Guilbeault in a 2023 filing with the Ethics Commissioner reported a “passive interest” in Cycle Capital. However the minister in his 2020 filing reported “income from a contract with Cycle Capital Management.” Guilbeault was the Minister of Canadian Heritage at the time.Méthot at committee acknowledged Cycle Capital benefited from $10.4 million in subsidies from a federal agency, Sustainable Development Technology Canada. Méthot is a former board member. .Trudeau Liberals refuse to disclose terms of $8B green slush fund as Guilbeault denies responsibility .The agency on June 4 was disbanded by cabinet following a federal audit that identified 186 conflicts of interest by board members.“There is a culture of corruption that you were a participant in,” said Conservative MP Rick Perkins on Monday.“You are the biggest single beneficiary of Sustainable Development Technology Canada money while sitting on the board. You are aware the Sustainable Development Technology Canada Act, which applied to you, said board members could not themselves benefit nor could their family members benefit.”“Isn’t that a benefit contrary to the Act?” asked Perkins.“Four companies from Cycle Capital received $10.4 million, four companies for which I declared my interest,” replied Méthot.“Whether it’s $10 million or whether it’s $30 million or whether it’s $50 million, it’s contrary to the Act,” said Perkins.“You broke the Act. The Act says you cannot personally benefit. When Sustainable Development Technology Canada made investments in your companies while you were on the board, you broke the Act.” .Ethics commissioner to reveal slush fund breach in July regardless of MP’s summer recess .Conservative MP Kelly McCauley described the distribution of millions in subsidies to insiders as maddening.“There’s over two million Canadians a month now accessing food banks,” he said.“Any of them watching will see connected insiders accessing taxpayers’ money without any oversight.”“Do you not sense that perhaps Canadians sitting at home would be enraged over this?”“Of course I don’t want to take anything away from food banks,” replied Méthot.Liberal and Bloc Québécois MPs on September 3 blocked a Conservative motion asking that Guilbeault appear for questioning on his dealings with Cycle Capital.“I don’t think we are going to be able to gain anything very useful by speaking to Minister Guilbeault,” said Bloc MP Nathalie Sinclair-Desgagné.
