Latest news with #MichaelSabia
Cision Canada
2 hours ago
- Business
- Cision Canada
Redressing the Past and Building for the Future: Innu Nation and Hydro-Québec Come to a Reconciliation and Collaboration Agreement Français
Natuashish, Nitassinan, NL, June 20, 2025 /CNW/ - Negotiators for the Innu Nation of Labrador and Hydro-Québec have signed an historic agreement-in-principle to settle past grievances and a legal challenge by Innu Nation related to the construction, operation and maintenance of the Churchill Falls Hydro-Electric complex, and to set out core elements and principles as the foundations of a new relationship. "On behalf of the Innu of Labrador, I am pleased that we have taken this major step towards settling our lawsuit against Hydro-Québec, out of court. Innu negotiators were able to reach a fair agreement to address the damage this project has done to our culture, our way of life and our lands and we will be pleased to bring this to our members. I want to personally acknowledge Michael Sabia for his leadership and for fulfilling Hydro-Québec's mandate to seeking a resolution-based approach to fairly address Indigenous concerns." Grand Chief Simon Pokue, Innu Nation Under the terms of this agreement, Hydro-Québec will contribute an amount of 87 million dollars to the Innu of Labrador in the form of annual payments to a Reconciliation Fund over a 16-year period. This milestone agreement confirms Innu Nation and Hydro-Québec's intention to forge a long-term relationship based on openness and mutual respect. In addition to the annual payments, it will also provide the Innu of Labrador (comprised of Sheshatshiu Innu First Nation and Mushuau Innu First Nation) with 3 per cent of the dividends which Hydro Québec receives from Churchill Falls (Labrador) Corporation for as long as Churchill Falls produces power, which they can use according to their own priorities. This is consistent with terms under the existing agreement between Innu Nation, Newfoundland and Labrador Hydro and the province of Newfoundland and Labrador. "Building more respectful relationships with Indigenous communities is a fundamental priority for Hydro-Québec. This agreement is a strong demonstration of how we can work together to build a more equitable and sustainable future. It opens the door to building new power generation facilities to the benefit of all our communities." Michael Sabia, President and CEO, Hydro-Québec The agreement in principle also sets out terms for Hydro-Québec's collaboration with Innu Nation in the development of future facilities in the region, such as the Gull Island Power Generating Station. Next steps The Innu Nation will first present this agreement in principle to its members in the Innu communities of Sheshatshiu and Natuashish. Following this, all terms of the agreement in principle will then be made public. Negotiations will continue to finalize the terms of a formal agreement by the fall of 2025. Once a final agreement is reached, Innu Nation will present it to its members for ratification. SOURCE Hydro-Québec
Yahoo
12-06-2025
- Business
- Yahoo
Who is Michael Sabia and why did Mark Carney bring him back into government?
Michael Sabia will add Clerk of the Privy Council to his resumé of senior corporate and government posts after the chief executive of Hydro Quebec was tapped by Prime Minister Mark Carney to lead Canada's civil service starting July 7, 2025. The one-time CEO of BCE Inc., Sabia has transitioned seamlessly back and forth between the public and private sectors during his extensive career. His latest job description will see him provide advice to the prime minister and senior elected officials from an objective, non-partisan, public policy perspective. Here's a look at Sabia's career and why Carney likely sought him out for his new role. Born in St. Catharines, Ont., about a 90-minute drive from Toronto, Sabia has spent his career moving between public and private roles, with much of his time spent with Quebec-based companies and institutions. His grandparents immigrated to Canada from Italy and his first language is English. But his command of French is very strong, which led to senior roles in Quebec. He has led organizations in several sectors including asset management, telecommunications, transportation and utilities. His government work has included senior roles in the finance department and the privy council office. His education includes earning a bachelor of arts degree in economics and politics from the University of Toronto and graduate degrees in the same areas of study from Yale University. Most recently, Sabia was CEO of Hydro-Quebec, which he joined in 2023. Prior to that he was the first native-English speaker to run the Caisse de dépôt et placement du Québec, the province's multi-billion pension manager, a job he held from March 2009 to January 2020. His run as chief executive of the Caisse was widely considered a success despite some early concerns that he might be considered an outsider. Prior to that, he spent several years at Montreal-based Bell Canada Enterprises (BCE Inc.), joining in 1999 and rising through the ranks to become president and chief executive in 2002 after serving as chief operating office and CEO of Bell Canada International. From 1993 to 1999, he worked at Canadian National Railway, with roles including chief financial officer. Sabia was instrumental in the privatization of CN in 1995. Sabia was Canada's deputy minister of finance from 2020 to 2023. He was also a member of the Canadian government's Advisory Council on Economic Growth, which was created in 2016, and served as chair of the Canada Infrastructure Bank from 2020 to 2021. He spent much of his early career in government before moving to the private sector. In the 1980s and early 1990s, he worked at the department of finance where he was director general of tax policy and one of the architects of a comprehensive reform of Canada's tax system, and at the Privy Council Office, where he was deputy secretary to the cabinet. His boss there, clerk of the Privy Council Paul Tellier, left to run Canadian National Railway in the early 1990s and Sabia followed. Sabia won praise for stabilizing the Caisse de depot after it sustained a deep loss during the financial in 2008. During his tenure, assets nearly tripled, reaching $326.7 billion, and the pension posted five and 10-year annualized returns of 8.3 and 9.9 per cent. However, assessments of his earlier tenure at BCE were mixed. A sluggish share price led to shareholder unrest and a contentious takeover battle by a consortium that included the Ontario Teachers' Pension Plan, which intended to privatize the telecom company in what would have been the biggest corporate takeover in Canadian history. The planned deal ultimately did not take place, and some blamed Sabia for the tumultuous period marked by court battles. Sabia was named an Officer of the Order of Canada in 2016 in recognition of his leadership across business, finance and public service. In receiving the honour, he was credited by governor general Mary Simon with 'helping to rejuvenate Canada's fiscal infrastructure as the country's general director of tax policy before lending his business acumen to a number of iconic Canadian enterprises.' Hydro-Québec's new boss: What you should know about the man and the job Why turning Canada's new defence spending into economic growth may be 'easier said than done' Sabia's close association with Quebec is seen as a strength for the minority Liberal government that may need support from the Bloc Québécois party to remain in power and get key legislation passed. Carney already reached into the Caisse de depot, where Sabia also worked, for his chief of staff: former Canadian ambassador to the United Nations Marc-André Blanchard. Sabia also brings a deep understanding of Canadian pensions funds, which will be brought to bear as the government seeks to 'catalyze' billions of dollars in private investment. 'Canada's exemplary public service — with Mr. Sabia at the helm — will advance nation-building projects, catalyze enormous private investment to drive growth, and deliver the change Canadians want and deserve,' the government said in a statement announcing his appointment. • Email: bshecter@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Toronto Sun
12-06-2025
- Business
- Toronto Sun
Carney hire Michael Sabia backed bank freezes for convoy protesters
Hydro-Quebec CEO Michael Sabia speaks to The Canadian Club of Montreal, in Montreal, on Wednesday, Feb. 19, 2025. Photo by Allen McInnis / Postmedia Network Michael Sabia, named by Prime Minister Mark Carney to lead the federal public service, played a key role in having the bank accounts of Freedom Convoy protesters frozen, a report says. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account On Wednesday, Sabia was hired as clerk of the Privy Council Office in Ottawa and was also named secretary to Cabinet. He had been president and CEO of Hydro-Quebec since 2023. 'As Canada's new government builds the strongest economy in the G7, Mr. Sabia's leadership will be key to this mission,' said Carney. 'Canada's exemplary public service with Mr. Sabia at the helm will advance nation-building projects.' The hiring comes three years after Sabia, who was the deputy minister of finance in Justin Trudeau's government from 2020-23, was instrumental in employing terrorist financing laws to enforce a national freeze of bank accounts held by protesters camped out on Parliament Hill, according to Blacklock's Reporter. This advertisement has not loaded yet, but your article continues below. The use of the Proceeds Of Crime And Terrorist Financing Act by the Trudeau government was ruled unlawful by a federal judge in 2024. 'The scope of the regulations was overbroad in so far as it captured people who simply wanted to join in the protest by standing on Parliament Hill carrying a placard,' wrote Federal Court Justice Richard Mosley. It is estimated that $7.8 million was frozen in 437 bank and credit union accounts and bitcoin wallets. Sabia was asked at the Public Order Emergency Commission in November 2022 whether protesters were terrorists or not. RECOMMENDED VIDEO 'People have every right to protest,' he testified. 'That's an important part of our democratic system. There were no easy answers here.' Freedom Convoy counsel also asked Sabia if he had any information that protesters were terrorists. 'We had no information one way or the other,' replied Sabia. 'You were given no information that these individuals in Ottawa protesting were terrorists?' Miller repeated. 'Well, I am not going to give you a yes or no answer,' replied Sabia. Read More World Celebrity World Sunshine Girls World
Toronto Sun
11-06-2025
- Business
- Toronto Sun
Sabia, veteran of public, private sectors, to head Carney's Privy Council
Published Jun 11, 2025 • 1 minute read Hydro Quebec CEO Michael Sabia speaks to The Canadian Club of Montreal, in Montreal, on Wednesday, Feb. 19, 2025. Photo by Allen McInnis / Postmedia Network OTTAWA — Prime Minister Mark Carney is tapping Michael Sabia, a veteran of the public and private sector, to head up the Privy Council Office in Ottawa. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Sabia's tenure as clerk of the Privy Council and secretary to cabinet will begin July 7. He replaces John Hannaford, who is retiring. The Privy Council offers non-partisan policy advice to the prime minister and cabinet and is responsible for managing the broader public service. Sabia has served as president and CEO of Hydro-Quebec since 2023. He said in a statement released by the utility Wednesday that he was answering Carney's call to serve as the prime minister pushes for a rapid transformation of Canada's government and economy. 'Prime Minister Carney asked me to take on this role at a time when the country is facing some unprecedented challenges,' he said. 'In that context, I am joining the federal government to tackle these challenges head-on.' This advertisement has not loaded yet, but your article continues below. Sabia started his career in the public sector and spent years at the Privy Council. He was Canada's deputy finance minister throughout the pandemic years and the early recovery period. He served as the head of Quebec's public pension plan for over a decade before that. He is a former CEO of Bell Canada Enterprises and former CFO of Canadian National Railway. Sabia was named an officer of the Order of Canada in 2017. 'As Canada's new government moves with focus and determination to build the strongest economy in the G7, bring down costs for Canadians and keep communities safe, Mr. Sabia will help us deliver on this mandate and our government's disciplined focus on core priorities,' Carney said in a media statement. Read More Celebrity NHL Editorial Cartoons Columnists Toronto Maple Leafs
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Politics Insider: Carney recruits Hydro‑Québec CEO to head public service
Hello, welcome to Politics Insider. Let's look at what happened today. Mark Carney has recruited Hydro‑Québec CEO Michael Sabia to take over as the country's top bureaucrat to help advance the Prime Minister's ambitious agenda. Sabia had served as deputy minister of finance before he left government to serve as head of the Quebec pension plan and later Hydro‑Québec. The current Clerk of the Privy Council John Hannaford announced today that he will leaving the government as the head of the public service and top adviser to the Prime Minister. Robert Fife reports that Carney had sought out Sabia because he needed a Privy Council clerk with business experience, who can push through his agenda, which includes major nation-building projects, a revamped military, major housing initiatives and cost-cutting expenditures for the public service. As Privy Council clerk, Sabia's roles include providing non-partisan advice to the Prime Minister and elected officials. Also, Steven Chase reports that Canada and the United States are exchanging potential terms of agreement in closely held talks on an economic and security deal. But these terms do not represent the draft text of an actual pact. These exchanges are an effort to spell out what both sides might be able to agree upon as Ottawa and Washington try to find enough common ground to end their damaging trade war, sources said. The Globe and Mail is not naming the sources because they were not authorized to speak publicly. Alberta working with oil companies on pipeline proposal, Alberta Premier says: Danielle Smith also says she expects Prime Minister Mark Carney to 'operate in good faith' on the pipeline issue. Proposed GST rebate for first-time homebuyers could offer average $27,000 relief, says PBO: The Parliamentary Budget Officer says tax relief is expected to cost the government $1.9-billion, although its estimates do not take into account how the cut would affect market behaviour. Saskatchewan Premier vows $500 per person for wildfire evacuees: Scott Moe said that money is on top of existing supports for the more than 10,000 people forced out of their homes owing to a string of wildfires in Saskatchewan's northern region. B.C. Transport Minister raises concerns over BC Ferries construction deal with Chinese state-owned shipyard: The winning bidder on the contract to build four new passenger ferries is Chinese state-owned China Merchants Industry Weihai Shipyards. What's in Kananaskis? Explore the outdoor escape where G7 leaders will gather: The G7 Leaders' Summit descends on Alberta's Kananaskis Country from June 15 to 17. Kananaskis – just an hour's drive from Calgary – isn't a national park. Rather, K-Country, as locals call it, is a 4,000-square-kilometre network of connected provincial parks, reserves and recreational zones encompassing mountains and foothills. Prime Minister's Day: In Ottawa, Mark Carney attended the weekly Liberal caucus meeting on Parliament Hill and also attended Question Period. Carney also spoke with Brazilian President Luiz Inácio Lula da Silva and invited him to next week's G7 summit in Kananaskis, Alta. Party Leaders: At the House of Commons, Bloc Québécois Leader Yves-François Blanchet participated in Question Period. In British Columbia, Green Party Leader Elizabeth May attended Parliament virtually and, in person she attended the blessing of new solar panels at the St. Andrew's Anglican Church in Sidney, B.C. NDP Interim Leader Don Davies, with other caucus members, held a news conference on NDP defence policy. No schedule released for Conservative Leader Pierre Poilievre. Starmer in Ottawa: British Prime Minister Keir Starmer is to visit Mark Carney in Ottawa on Saturday and Sunday ahead of next week's G7 Leaders' Summit in Kananaskis. Quote of the Day: 'That's the thing about us New Democrats. We're like goddamned dandelions. It's like once we're on your lawn, you can't seem to get rid of us so the dandelions are coming up again.' - Former NDP MP Charlie Angus, at a Parliament Hill news conference today, on his party's resilience after a federal election result he described as an 'unmitigated disaster.' Angus said he will not seek the party leadership. Which Russian leader attended the last G7 summit (then known as the G8summit) held in Kananaskis in 2002? Scroll to the bottom of this newsletter for the answer. Twenty years late, Canada hits the old NATO target, just in time to fall short of the new one. Post Mulroney, the Conservatives' brand is 'loser.' It's time for an overhaul. Got a news tip that you'd like us to look into? E-mail us at tips@ Need to share documents securely? Reach out via SecureDrop. The answer to today's question: Russian President Vladimir Putin attended the summit and appeared in a photo that included Canada's Jean Chrétien, France's Jacques Chirac, Tony Blair from Britain and U.S. President George W. Bush.
