Suncor Energy Inc. SU recently reached agreements with eight indigenous communities in the Regional Municipality of Wood Buffalo (RMWB) to buy the entire 15% equity stake in Canada's Northern Courier Pipeline Limited Partnership held by TC Energy Corporation TRP.The partnership, which comprises Suncor, three First Nations, and five Métis communities will hold a 15% interest in this pipeline asset worth roughly C$1.3 billion, which will generate long- term, consistent earnings that will aid the communities for decades ahead.Suncor will run the pipeline that connects Suncor's Fort Hills oil production in Alberta to its East Tank Farm asset after the acquisition is completed. Suncor stated in a statement that the collaboration is projected to generate gross revenues of around C$16 million per year for its partners and offer stable income. Subject to usual closing conditions and regulatory clearances, the deal is expected to be completed in the fourth quarter of 2021.The participation of indigenous communities in the deal is financed by non-recourse funding, backed by a loan guarantee of up to C$40 million from the Alberta Indigenous Opportunities Corp.This cooperation and investment are the product of years of work and talks among all stakeholders. Given the number of Indigenous communities participating in this sort of initiative, this alliance is unparalleled in the industry as an example of economic reconciliation.As First Nations and the indigenous communities play such an important role in Canada's oil sector, oil and gas companies are actively collaborating with them on various projects. Governments and corporations have a legal obligation to engage with and accommodate First Nations before moving forward with resource projects that impact their lands.In June, a coalition of leading Canadian oil sands producers, comprising Suncor — currently carrying a Zacks Rank of #3 (Hold) — Canadian Natural Resources CNQ, Cenovus Energy, Imperial Oil Limited IMO, and MEG Energy announced a collaboration with local indigenous communities in northern Alberta to achieve net-zero greenhouse gas emissions from their operations by 2050. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Suncor, Canada’s premier integrated energy company, has seen its shares gain 49.5% in a year’s time compared with the industry's growth of 48.3%Image Source: Zacks Investment Research 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Suncor Energy Inc. (SU): Free Stock Analysis Report Imperial Oil Limited (IMO): Free Stock Analysis Report Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report TC Energy Corporation (TRP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research