When Mark Carney assumed office in March 2025, he brought with him a staggering resume, but also a web of corporate entanglements—most notably his former role as board chair of Brookfield Asset Management. To appease ethics concerns, Carney placed his extensive investment portfolio into a blind trust and established an “ethics screen” designed to recuse him from decisions specifically involving Brookfield and its subsidiaries. However, critics across the political spectrum quickly pointed out that the screen is as porous as it is narrow.
Throughout 2025 and 2026, government watchdogs like Democracy Watch and Conservative Shadow Minister for Ethics Michael Barrett repeatedly highlighted that the massive, global reach of Brookfield-affiliated companies makes true recusal almost impossible without full divestment. The controversy reached a boiling point in April 2026, when the House of Commons Ethics Committee took the extraordinary step of formally recommending that the Conflict of Interest Act be amended to force prime ministers to fully divest from controlled assets. Meanwhile, allegations of preferential access for Brookfield executives to government officials have only fueled the fire, leading to uncomfortable questions during Question Period.