The head of Ontario Teachers’ Pension Plan isn’t ruling out an investment in the Trans Mountain pipeline.

“We’re constantly looking at stuff globally, and I do think at this point in time, it’s very, very early days,” the pension fund’s president and CEO Ron Mock said while speaking to reporters at a Toronto event Wednesday. “I don’t want to mislead anybody. If it’s an opportunity for our members and for our organization in support of our fiduciary duty, then we will take a look.”

“It’ll be looked at and looked upon through the lens that we look at with anything else we invest in globally,” Mock added, noting before making an investment decision, the pension fund examines opportunities with commercial, environmental, social and governance factors in mind.

President and CEO of Caisse de dépôt et placement du Québec Michael Sabia, who also spoke at the press conference to announce the launch of its G7 investors’ leadership group with Ontario Teachers’, says that initiative is his main focus right now.

The group could be “just the beginning of something that could become even larger in the period ahead,” Sabia said.  “We want to continue focus on that and I think today is not the appropriate time to comment on a specific investment opportunity one way or the other.”  

The federal government announced May 29 it is buying the Trans Mountain pipeline from Kinder Morgan Canada for $4.5 billion. Prime Minister Justin Trudeau said his government will look for a buyer once the expansion project is built and that  they don’t want to be in the pipeline business for too long.

Speculation has since swirled over who could potentially buy the pipeline, with Canadian pension funds, Indigenous groups, or even a return to Kinder Morgan seen as some of the possibilities.