
Conservative MP says Carney should appoint a labour minister and pay more than 'lip service' to workers
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OTTAWA — A Conservative MP is calling on the federal government to dedicate a full cabinet position to the issue of labour, saying Prime Minister Mark Carney must pay more than 'lip service' to workers in his region affected by General Motors' planned shift cuts.
Jamil Jivani, the recently reelected MP for Bowmanville—Oshawa North, released a letter through his office on Wednesday, the day after Carney unveiled his new cabinet.

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Globe and Mail
an hour ago
- Globe and Mail
Twenty Canadian mutual funds and ETFs with low ESG risk
Canadian-domiciled mutual funds and exchange-traded funds that exhibit low degrees of environmental, social and governance risk and that have outperformed peers Canadian retail investors continue to give mixed signals on investing sustainably. On one hand, the sustainable mutual fund and ETF market saw net redemptions over 2024, something that hasn't happened since 2019. On the other, industry surveys (such as the Responsible Investment Association's Annual Investor Opinion Survey conducted by Ipsos) continue to point to desire by retail investors to invest sustainably, citing that two-thirds of Canadians are interested in the concept. The disconnect between investor interest and actual investment behaviour might stem from a lack of clarity around the purpose of sustainable investing. While some investors view ESG considerations as a way to align investments with personal values, this perspective can overlook the growing relevance of the considerations to financial performance. Increasingly, factors such as climate risk, corporate governance and social responsibility are being recognized as material to a company's long-term success – and, by extension, to investor returns. As such, evaluating ESG risks should not be seen merely as a values-based choice, but as a prudent step in making informed, forward-looking investment decisions. This opinion largely aligns with that of Canadian Prime Minister Mark Carney. He sees ESG risks as financially material factors that investors must consider to properly assess long-term value and risk. In his book Value(s), he writes that ESG criteria help investors 'identify common factors that assist risk management and value creation but also deliver superior financial returns.' He also asserts that 'fiduciary duty is not a barrier to considering ESG factors – it demands it,' emphasizing that ignoring such risks could breach legal and ethical responsibilities. For Mr. Carney, ESG is not a peripheral concern, but a core component of financial analysis. With all of this in mind, today I use Morningstar Direct to find outperforming mutual funds and ETFs that, based on Morningstar's assessment, exhibit lower degrees of ESG risk when compared to global peers. To do this, I screened for Canadian funds and ETFs (a universe of roughly 4,400 unique investments) for those that: Only the oldest share class of Canadian-domiciled mutual funds and ETFs were considered in the search. The mutual funds ETFs that qualified for today's screen are listed in the table accompanying this article. The table includes tickers, management expense ratios, asset class, category, ratings and returns. Readers are urged to first look at the asset class and category to which each fund belongs, given that ratings are relative to these peer groups. I note importantly that I did not screen on the intent of the fund, only the ESG risk scores. As such, there are funds on the list that don't necessarily align their marketing (or names) with a sustainability tilt. However, the portfolio holdings (according to Morningstar's analysis) reflect lower degrees of ESG risk. This article does not constitute financial advice. Investors are encouraged to conduct their own analysis before buying or selling any of the investments listed here. Ian Tam, CFA, is director of investment research for Morningstar Canada.


Toronto Star
an hour ago
- Toronto Star
Carney's ‘Canada Strong Pass' to come into effect on June 20
OTTAWA - The federal government is set to announce details of its promised 'Canada Strong Pass' next week and the tourism initiative is expected to take effect later this month. A Liberal government spokesperson told The Canadian Press that the pass will be available from June 20 until the end of August. During the recent federal election, Prime Minister Mark Carney promised to introduce a single pass that would give young people under 18 free seats on Via Rail when travelling with their parents, and free access to Canada's national galleries and museums. ARTICLE CONTINUES BELOW The Liberal platform said the party would also introduce 'heavily discounted' access to museums and galleries for Canadians aged 18 to 24. Carney, who pitched the idea as a way to unite Canadians in the face of threats from the U.S., said his government also would reduce prices for camping in national parks for all Canadians from June to August. Carney said during the campaign that Canadians would have free access to national parks and historic sites during the summer. The spokesperson said those promises will all be covered by the 'Canada Strong Pass.' A spokesperson for Via Rail Canada said the national passenger rail service is 'proud' to support the plan as it encourages young Canadians and their families to discover the country. The government spokesperson said details of the initiative will be announced in the coming days. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW In 2017, Via Rail offered unlimited travel passes for youth during the month of July to celebrate Canada's 150th birthday. While the organization said it planned originally to make 1,867 passes available, it extended the offer due to high demand and more than 4,000 Canadians purchased passes. Minister of Canadian Identity and Culture Steven Guilbeault's director of communications said there has been an 'incredible show of unity' from Canadians since the beginning of the year. 'We look forward to delivering on our commitment to the Canada Strong Pass to make it even easier for Canadian families to choose Canada as they plan their summer travels,' Alisson Lévesque said. Politics Headlines Newsletter Get the latest news and unmatched insights in your inbox every evening Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. Please enter a valid email address. Sign Up Yes, I'd also like to receive customized content suggestions and promotional messages from the Star. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy. This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Politics Headlines Newsletter You're signed up! You'll start getting Politics Headlines in your inbox soon. Want more of the latest from us? Sign up for more at our newsletter page.


Vancouver Sun
2 hours ago
- Vancouver Sun
Criticism comes from all sides after B.C. Ferries awards contract to Chinese state-owned company
Criticism of B.C. Ferries' decision to partner with a Chinese state-owned company to build four new vessels intensified Tuesday, with calls from B.C. Conservative Leader John Rustad to cancel the contract and reissue the request for proposals to make it more attractive to Canadian bidders. 'I think we should be doing everything we can to support jobs in B.C. and our economy in B.C.,' he told Postmedia News. If the B.C. companies can't build the vessels, then Rustad said the ferry service should be looking at procuring ships from other countries such as Germany and Poland that B.C. Ferries has worked with before and are more friendly to Canada. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Rustad's comments echoed sentiments from B.C. Transport Minister Mike Farnworth who expressed concern about procuring ships from a country currently engaged in a tariff war with Canada. Farnworth, however, stopped short of saying he was going to take action against the decision. 'My main concern with B.C. Ferries' decision is the lack of Canadian content in the contract. My hope is that going forward B.C. Ferries will make a greater effort to require Canadian inputs into its new vessels,' said Farnworth, explaining he had shared those concerns with the corporation. 'With respect to China specifically, my concern is focused around the ongoing trade disputes between our nations and the fact China is deliberately attacking sections of the Canadian economy through unwarranted tariffs.' B.C. Premier David Eby has repeatedly criticized the Asian economic giant over allegations of money laundering, election interference and that it's arming Russia in its invasion of Ukraine. A recent trade mission by the premier intentionally skipped China, with B.C. instead choosing to focus on strengthening ties with Japan, South Korea and Malaysia. On Tuesday, B.C. Ferries announced it had signed a deal with Chinese state-owned Weihai Shipyards to build four new vessels between 2026 and 2031 as replacements for its oldest ships. Nicholas Jimenez, the corporation's CEO, has defended the choice by saying that there were no Canadian companies that applied for the project. In September, North Vancouver-based shipbuilder Seaspan said that 'Canadian shipyards and their supply chains cannot compete with low-wage countries that have lower employment standards, lower environmental standards and lower safety standards.' The company has urged the province to follow Quebec in providing tax breaks and forgivable loans and grants to help ensure ferries can be built in B.C. Jimenez also said that China has come to dominate the global shipbuilding industry with 60 per cent of all ships in the world today having been built by the Asian behemoth. 'In the last 10 to 15 years, the technological capabilities and shipbuilding prowess inside that country has grown immeasurably,' Jimenez told reporters Tuesday. 'We consulted heavily with our colleagues in Europe, who have been in the market for more than a decade. I would note even as recently as two months ago, another very large Italian ferry organization just signed a deal for nine vessels with the very same shipyard that we intend to build in.' Jimenez promised there are provisions in the contract that ensure Weihai will not be paid in full until the ships are delivered. Additionally, he said there will be oversight teams on the ground in China during construction to ensure compliance with the contract and address any security concerns. The full contract has yet to be release and B.C. Ferries isn't releasing the amount being paid to the Chinese company, citing the need to protect future bids. Ed Hooper, B.C. Ferries head of fleet renewal, said Tuesday that the corporation took the step of travelling to all the shipyards on its shortlist and that there was a sense of strong worker safety provisions and oversight at Weihai. He did acknowledge, however, that the dominance of China in the industry is deliberate. Neither Jimenez or Hooper were made available Wednesday for further questions. Joy MacPhail, B.C. Ferries board chairwoman and former NDP cabinet minister, was also unavailable. A corporation spokesperson said that they had been having regular briefings and meetings with the provincial government throughout the procurement process and had notified the federal government of their selection of Weihai ahead of time. They also said that all IT networks and vessel systems for the ships will be installed in Canada by local suppliers and that B.C. Ferries had sought the advice of an independent risk consultancy on security measures for the project. Rustad said that while Jimenez might not have concerns about the geopolitical ramifications of the deal, there is no telling when an international incident could occur between Canada and China that might put the delivery of the vessels in jeopardy. 'Obviously there's lots of rhetoric going back and forth between the United States and China, friction with Taiwan,' Rustad told Postmedia. 'Who knows what may happen? Hopefully nothing by 2029 to 2031 which is when these ships are going to start to be constructed and delivered.' Concerns over the contract have reverberated to the federal level with Jeff Kibble, Conservative MP for Cowichan-Malahat-Langford, questioning federal Transport Minister Chrystia Freeland during question period in Ottawa. 'The Liberals are set to hand over $30 million (in federal subsidies) to B.C. Ferries while B.C. Ferries hands over critical jobs, investment and industry to China,' Kibble charged. Freeland responded that she agrees the federal government needs to be supporting local industry and working with allies and trade partners but that the B.C. Ferries' contract wasn't a federal project. Jenny Kwan, NDP MP for Vancouver East, told Postmedia that Ottawa has a role in working with provincial governments to build up the country, including ensuring that domestic companies can compete for large procurement contracts. 'We have to re-examine how that procurement process is undertaken,' said Kwan.