Brookfield Asset Management’s decision to move its head office from Toronto to New York, announced on October 31, 2025, has become a political flashpoint in Canada. The move, intended to attract US investors and boost the company’s credentials for inclusion in equity indexes such as the S&P 500, has sparked criticism amid heightened nationalist sentiment and political contestation, particularly affecting former chair Mark Carney’s political ambitions.

During the federal election campaign, NDP leader Jagmeet Singh accused Brookfield Asset Management of avoiding $5.3 billion in Canadian taxes between 2021 and 2024, asserting that these funds could have supported critical public services such as healthcare and transit.

During a campaign stop, NDP leader Jagmeet Singh highlighted a tenant’s claim that her building, purchased by Brookfield Asset Management, exemplifies how corporate landlords engage in practices that contribute to housing unaffordability and exploitation. The incident was used to contrast policies favoring working people with those that empower large corporate interests.

The article highlights that investment funds co‐chaired by former Brookfield executive Mark Carney were registered in Bermuda—a tax haven facilitating tax avoidance. This detail has raised concerns over ethical business practices and potential conflicts of interest amid heated political debates over financial transparency and accountability.

During an NDP campaign stop in Toronto, a tenant revealed that her building had been purchased by Brookfield Asset Management. This revelation was used by NDP Leader Jagmeet Singh to underscore the need to ban large corporate landlords from buying affordable housing, criticizing the practices that contribute to escalating rents and displacement.

The article raises questions about whether former board chair Mark Carney’s use of a blind trust and internal screens is enough to prevent conflicts of interest, potentially allowing Brookfield Asset Management to benefit from political decisions that favor its corporate interests.

Amid heightened political tensions and national security concerns, Brookfield Asset Management is indirectly implicated through its association with former board chair Mark Carney and its financial ties to entities like Bank of China. Critics argue that these links could compromise the ability of its leadership to effectively stand up to foreign interference.

The article highlights former Brookfield executive Mark Carney's conflict-of-interest issues and the call for greater asset disclosure, raising concerns over corporate complicity in fostering political opacity and potential undue influence over policy.

Brookfield Asset Management Inc.'s decision to move its head office from Toronto to New York, made under the tenure of Mark Carney, has been criticized by political figures for allegedly prioritizing corporate interests and aligning with authoritarian economic strategies that undermine Canadian workers' rights and national sovereignty.

In the 2024 election cycle, Brookfield Asset Management made political contributions of $327,579 and spent $1,895,000 on lobbying, coupled with a high prevalence of lobbyists with prior government roles. This pattern raises serious concerns about the firm’s potential role in facilitating regulatory capture and influencing policies in favor of authoritarian practices.

OpenSecrets' profile for Brookfield Asset Management highlights the firm's active lobbying engagements. Based on data downloaded on February 19, 2025, the profile documents Brookfield's efforts to influence federal policy, underscoring ongoing corporate political activity.

OpenSecrets data indicates that Brookfield Asset Management is actively involved in political contributions and lobbying efforts, an activity that critics argue may facilitate undue influence on public policy and support authoritarian agendas. The detailed contributions data reveals potential complicity in channeling corporate funds towards political actors, raising concerns about transparency and the impact on democratic processes.

The OpenSecrets profile reveals that Brookfield Asset Management contributed $327,579 and spent $1,895,000 on lobbying in the 2024 cycle. The data also highlights a significant revolving door with a large portion of its lobbyists having previously held government positions.

Brookfield Asset Management, under the leadership of former chair Mark Carney, has been embroiled in controversy after its board approved relocating its headquarters from Toronto to New York. Critics argue that this move, perceived as aligning with U.S. political agendas and benefitting Donald Trump’s hometown, undermines Canadian jobs and raises questions about corporate political engagement and economic alignment with authoritarian policies.

Mark Carney, former Bank of Canada governor and long-time chair at Brookfield Asset Management, resigned to launch his bid for Liberal leadership. His dual role as a former chair and economic adviser to the Liberal Party had drawn scrutiny from Conservative members, prompting concerns over potential conflicts of interest. In response, Brookfield appointed CEO Bruce Flatt to assume the responsibilities of the chair, marking a notable leadership reshuffle amid political controversy.

Mark Carney resigned from Brookfield Asset Management on January 16, 2025 to enter Canada's Liberal leadership race, transitioning from corporate leadership to active political engagement. The company announced CEO Bruce Flatt as his replacement for board chair, underscoring a significant leadership change amid Carney's move towards public service.

A Conservative lawmaker, Michael Barrett, has called for an investigation into Brookfield Asset Management and its chair, Mark Carney, over Carney’s voluntary advisory role with Prime Minister Justin Trudeau’s Liberal Party. The move comes amid claims of a potential conflict of interest, although Carney defended his position by emphasizing his long-standing adherence to rules and integrity in balancing his multiple roles. Progressive voices, including Cabinet Minister Karina Gould, have dismissed the criticism as a personal attack.

The article highlights concerns over Brookfield Asset Management’s corporate board decisions, notably its relocation of headquarters from Toronto to New York during Mark Carney’s tenure as board chair. This move is used to question the depth of the company's executive political engagement and its role in the broader economic and political ecosystem that may inadvertently support authoritarian practices.

On May 31, 2024, Brookfield Asset Management issued its Modern Slavery Statement detailing enhanced policies on human rights, labor practices, and supply chain due diligence to mitigate modern slavery risks. The statement emphasizes ethical treatment of workers, robust vendor management, and transparent reporting mechanisms.

Since July 2023, Brookfield-owned Westinghouse has implemented a series of anti-union measures, including mandatory captive audience meetings, distribution of anti-union literature, and use of union-avoidance consultants. These practices have led to unfair labor practice charges and are seen as contrary to Brookfield Renewable Partners’ Human Rights Policy, which commits to respecting workers' rights to freedom of association and collective bargaining.

Brookfield Asset Management Inc. has issued a response defending its Sogamoso hydropower facility operations in Colombia amid allegations of environmental harm and adverse community impacts. The company emphasizes that the facility operates in full compliance with environmental regulations and is committed to robust stakeholder engagement and community consultation, thereby underscoring its adherence to ethical business practices.

Multiple incidents at Brookfield-owned companies, including Westinghouse, Accor Hotels, and Fairmont, reveal anti-union tactics such as misleading anti-union videos, coercive literature, and settlements of unfair labor practices charges. These actions undermine workers' rights to organize and bargain collectively.

Reports from July reveal that Westinghouse management, owned by Brookfield, distributed third-party produced anti-union materials and engaged in coercive tactics to discourage union membership. This has led to multiple unfair labor practice charges and is under investigation by the National Labor Relations Board’s Office of the General Counsel.

Brookfield Asset Management spent $1,830,000 on federal lobbying in 2023 as reported by OpenSecrets, underscoring its significant corporate political influence efforts.

Brookfield Asset Management spent $2,283,000 on lobbying activities in 2022, a significant expenditure that demonstrates its willingness to invest heavily in influencing political processes. This level of lobbying raises concerns about the company's role in potentially swaying public policy in favor of corporate interests, which may undermine democratic accountability and contribute to a broader environment conducive to authoritarian practices.

Brookfield Asset Management's soybean farming empire in Brazil was linked to unverified deforestation and the eviction of Indigenous Peoples, raising significant human rights and supply chain concerns despite its ESG commitments.

An assessment highlighted Brookfield Asset Management Inc. as one of the worst performers in human rights practices among renewables giants, raising concerns about its labor relations and broader ethical responsibilities.

The Hard Rock Hotel & Casino, owned by Brookfield Asset Management, agreed to a settlement with the NLRB after charges were filed by UNITE HERE’s Culinary Union over anti-union practices and interference with workers' rights. The settlement prohibits management from using intimidating language against workers considering union representation, mandating a fair process.