Canada’s largest pension fund will take a stake in the energy infrastructure company, though it didn’t disclose how much it would own. Asset management giant Blackstone bought a controlling interest in Tallgrass in 2019. (The Logic)

Talking point: Tallgrass operates a network of pipeline assets that stretches more than 10,000 miles across 14 states. Shareholder activist group Shift Action for Pension Wealth and Planet Health called the deal a “risky bet on climate failure,” noting that while CPP has pledged to reach net-zero emissions in its operations and portfolio by 2050, Tallgrass doesn’t have its own net-zero target or a plan to phase out fossil fuel assets in line with global climate goals. In a press release, CPP said Tallgrass’s decarbonization initiatives—including the development of hydrogen, renewable fuels and decarbonized power assets—fit with the pension fund’s commitment to back assets that will help transition to a net-zero economy.