This article examines how the Glasgow Financial Alliance for Net Zero (GFANZ) — a global coalition of banks, insurers, and asset managers aligned with the Paris Agreement — leverages financial power to shape Newfoundland’s development without democratic oversight. Drawing on the “local paradox” framework, it shows how weak, fragmented local governance leaves the province vulnerable to top-down financial agendas. Projects like Port au Port’s wind-to-hydrogen proposal illustrate how Paris-aligned funding bypasses local consent, reinforcing the governance gap and shifting decision-making power from communities to creditors.
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