Month: July 2025

Originally published in Principal Financial Group 2024 Sustainability Report

Principal® has a longstanding commitment to making a positive impact on the populations and communities we serve, and this commitment has grown and evolved over time.

In my 40 years with the company, I’ve seen us adapt to meet the changing needs of our stakeholders, while staying closely committed to our core values.

In my past decade as CEO, I’ve encouraged and supported this work at Principal and am proud of our accomplishments—including establishing our Sustainability Task Force, developing a strategy, and issuing our first public commitments. Now, as Executive Chair, I’m handing the baton to our new President and CEO Deanna Strable who will continue the company’s efforts to drive improved outcomes for people, society, and the planet.

Deanna, who served as CFO for the past seven years, and I co-architected our enterprise strategy to lead Principal into the next decade, mindful of the role our purpose plays in shaping our continued success. Additionally, we now serve together on the Principal Board of Directors, which reviews and approves commitments the company makes and monitors results.

Five years of progress

It’s been five years since we made our first public commitments, so before I turn this letter over to Deanna, I want to review the progress Principal has made during that time. I’m proud of all we’ve accomplished, led by our core values: Start with the customer. Do what’s right. Own what’s next. Invest for our future.

• Aligned our community impact initiatives more closely with our purpose: helping more people, businesses, and communities gain access to financial security.
• Contributed millions of dollars to communities through Principal® Foundation and made it even easier for employees to give back, matching donations and championing employee volunteer efforts around the world.
• Launched proprietary research designed to spur crucial conversations about financial inclusion globally.
• Added more sustainable investment options to meet increasing
  client demand.
• Maintained an inclusive and respectful workplace designed to help all employees succeed.
• Reduced the company’s impact on the environment through long-term, responsible actions that have led to exceeding our annual GHG emissions glide path target each year since 2019.

Our willingness to make these commitments and our diligence in delivering on them has led to impressive results, as detailed on page five. All of this is a source of great pride for the management, employees, and our Board. Of course there is more to be done, and I’m confident Deanna and team will rise to the challenge.

Committed to our future impact

It’s been a privilege to be part of meaningful work that advances our purpose, and as Executive Chair, I’ll continue my support for it. It’s the right thing to do, and it’s who we are as an organization. I’m looking forward to all that’s to come.

Dan Houston
Executive Chair

To learn more, read the Principal Financial Group 2024 Sustainability Report.

Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.

4581344-062025

Originally published on NRG Insights

By Robert Ott

Welcome to the first edition of our Load Growth series where Robert Ott, Vice President of Origination for NRG Business, will break down the recent trends in load growth, explaining what they really mean and how they are influencing both the market and customers. Join us as we explore the key insights and implications behind these changes.

As populations grow and technology advances, the demand for energy is skyrocketing. Understanding energy load growth, or the rising need for electricity, gas, or other forms of energy, is crucial to ensuring a reliable supply. This growth comes with both challenges and opportunities, as we balance the need for more power with managing energy costs, ensuring they remain stable for consumers.

Overview of unprecedented growth

Energy load growth has remained relatively consistent year over year across most Independent System Operators (ISOs). However, ERCOT stands out, experiencing a 14% rise in demand from 2021 to 2023. This growth is largely fueled by Texas’ rapid population increase and its prominence in the expansion of data centers.¹ To address this surge, ERCOT is highlighting the need for new thermal generation, as seen with the Texas Energy Fund (TEF) awards in 2024. In response to these large load forecasts, we are adding an additional 1.5 GW of generation through the TEF, as well as collaborating with industry leaders to drive speed to market.

Additionally, PJM, home to many top tier data center markets, is also projecting large load growth throughout the end of the decade. To adequately prepare for this demand, PJM is prioritizing shovel ready generation projects to ensure its load forecast, seen below, is met with new generation.² These initiatives reflect the changing dynamics of energy demand in these regions and highlight the challenges and opportunities of meeting future energy needs.

Drivers of demand growth

One of the primary drivers of demand growth is artificial intelligence (AI). AI models consume a significant amount of energy because of the high-performance processors and vast amount of data used to train the model. Data centers and AI companies have already invested $400 billion in high-performance chips, showcasing the significance of AI-driven growth. ³ This is accelerating with $302 Bn in projected spend in 2025 on AI data centers by hyperscalers. ⁴

Additionally, data centers are increasing rack and chip density, further accelerating load growth and the build-out process. As AI chips grow more compact and workloads intensify, power demands will surge, fitting greater computational capacity into ever-smaller spaces. This combination of technological advancement and infrastructure density is playing a key role in driving energy demand projections upward.

In addition to AI-driven growth, another factor forecasted to drive energy demand higher is the onshoring of large industrial loads. With the return of manufacturing and industrial facilities to the U.S., reversing decades of offshoring, energy demand is expected to rise further.

Other factors contributing to load growth include the rise of cryptocurrency mining and increased electrification efforts. These sectors, along with AI, are all playing a pivotal role in driving substantial increases in energy load.

In our next edition

Understanding the impact of these factors is critical as they will place significant strain on the energy grid, requiring substantial upgrades and innovations in infrastructure to meet rising demand. With such rapid growth, the energy landscape is evolving quickly, and we must anticipate these challenges to ensure a resilient, cost-effective, and sustainable energy system for the future.

In our next blog, I’ll dive into the impacts of this load growth on customers and energy markets — exploring how these changes are shaping pricing, reliability, and the overall energy experience.

¹US Census Bureau and 451 Research

²Utility Dive

³Goldman Sachs

⁴Morgan Stanley

As cities and infrastructure rapidly expand across the globe, the need to rethink how we build has never been more urgent. In the UAE and broader GCC region, this urgency is amplified by a unique mix of environmental sensitivity, ambitious development agendas, and climate-related risks. That’s where “building with nature” comes in, a concept that is both innovative and deeply rooted in ancient wisdom.

At Terra Nexus, this isn’t just a philosophy, it’s our practice. As an environmental consultancy firm specializing in infrastructure and the built environment, we help clients align growth with ecological stewardship, delivering real-world solutions that balance environmental priorities with development objectives.

What Does “Building with Nature” Really Mean?

At its core, building with nature means designing infrastructure and urban developments in ways that harmonize with natural systems rather than working against them. It’s about making strategic decisions that:

• Minimize environmental disruption
• Preserve or enhance ecosystems
• Build climate resilience into infrastructure
• Unlock long-term benefits for both people and the planet

Globally, the construction sector is one of the largest contributors to climate change and resource depletion:

• The 2022 Global Status Report for Buildings and Construction (UNEP/GlobalABC) highlights that in 2021, the sector was responsible for over 34% of global energy demand and about 37% of energy- and process-related CO₂ emissions.
• Climate Action Accelerator reports that the buildings sector (both construction and operation) accounted for 36% of global energy consumption in 2020, which aligns with the 30–32% range commonly cited
• It is responsible for over 50% of raw material extraction worldwide (EU Analysis).

This scale of impact means our industry holds powerful potential for positive change. Read more about Green Building Certification here and the Top Green Building Benefits.

Localizing the Approach: The UAE and GCC Context

Across the Gulf region, massive infrastructure and urban planning projects are reshaping coastlines, deserts, and mountainscapes. From NEOM to new waterfront masterplans in the UAE, growth is happening at an unprecedented pace. This makes environmental planning more essential than ever.

At Terra Nexus, we specialize in embedding environmental intelligence early in the development lifecycle. Our projects range from mixed-use mega-developments on thousands of acres to localized upgrades like improving marine water quality in a coastal marina.

Key point: Early involvement is critical. When we are brought into a project during the planning and design phase, we can make the most meaningful impact, steering decisions that avoid sensitive habitats, reduce construction impacts, and improve long-term sustainability outcomes.

Real-World Examples: Building with Nature in Action:

UAE Coastal Development Masterplan

In a confidential but large-scale coastal development in the UAE, Terra Nexus provided ecological mapping and strategic advice on land use. Our goal: identify which areas were suitable for development and which should be preserved due to environmental value.

Results:

• Protected kilometers of seagrass beds and coral reefs
• Conserved ecologically valuable land from being cleared
• Integrated blue-green infrastructure to mitigate flood risk and cool urban microclimates

By applying geospatial analysis and ecological assessments, we helped the project team design a world-class destination with a minimized environmental footprint.

Mountain Hospitality Destination in Saudi Arabia

In a mountainous, forested region of Saudi Arabia, Terra Nexus led the environmental framework for a new hospitality and residential masterplan. Despite its remote location, the project presented ecological challenges: flood-prone zones, erosion risks, and forested areas at risk of being cleared.

Some of the solutions that we implemented on the project included:

• Avoiding high-risk areas and integrating erosion protection measures
• Creating ecological corridors for wildlife movement and habitat connectivity
• Developing a native planting palette tailored to the site’s climate and soil
• Enhancing forest preservation within the development envelope

This case shows how even complex sites with rugged terrains can benefit from an approach that works with, not against, natural features.

Retrofitting Nature into Existing Projects

While early planning is ideal, building with nature isn’t limited to greenfield sites. Even in already-developed areas, upgrades and rehabilitation projects can bring environmental and social value.

For example, we partnered with engineers to improve water circulation in a small UAE marina where stagnation had reduced water quality. With minor engineered interventions, marine health improved, benefiting both environmental quality and overall user experience.

In these retrofit scenarios, phasing and stakeholder coordination are key. Creative thinking, combined with empathy for operational realities, helps deliver win-win outcomes.

Key Benefits of Building with Nature

Whether you’re working in the UAE or halfway around the world, here are five compelling reasons to adopt a building with nature strategy:

1. Lower capital and operational costs – Leveraging natural topography, materials, and systems can reduce the need for expensive earthworks or engineered infrastructure.
2. Enhanced climate resilience – Nature-based designs reduce vulnerability to flooding, erosion, and extreme heat.
3. Improved livability and user experience – Green spaces, natural shade, and biodiversity improve wellbeing for residents and visitors alike.
4. Regulatory readiness – In regions like the UAE and KSA, environmental permitting is mandatory. Building with nature ensures compliance and competitive advantage.
5. Positive brand and investor perception – Sustainable, eco-sensitive developments are increasingly attractive to both stakeholders and the public.

This approach also makes business sense. Developers benefit from cost savings, long-term durability, and market differentiation.

Challenges, and How We Overcome Them

Implementing this philosophy isn’t without hurdles:

• Speed of development: In the GCC, projects move quickly. You need nimble, adaptive strategies.
• Changing mindsets: Some stakeholders remain rooted in traditional “hard” engineering methods.
• Budget concerns: Upfront costs may appear high, even if long-term savings exist.

Our response:

• Use data visualization and GIS tools to show clear environmental risks and solutions.
• Present a business case alongside ecological benefits.
• Ensure recommendations are feasible, grounded in regulatory context, and matched to available resources.
• Engage with design teams as collaborators, not enforcers, building trust and shared vision.

Why Local Expertise Matters

Environmental conditions are highly contextual. Soil, water, climate, regulations, community norms, these differ not only country to country but even city to city. That’s why local knowledge is vital.

At Terra Nexus, our team understands:

• The intricacies of the region’s unique climate, native species, and marine habitats
• How to navigate permits and approvals with local authorities
• The realities of contracting, supply chains, and land-use constraints

Partnering with Inogen Alliance gives us access to global tools and peer expertise, but it’s our local insight that ensures success on the ground.

Final Takeaways

If you’re just starting your journey into building with nature, here are two simple but powerful pieces of advice:

1. Keep an open mind. Rethinking traditional infrastructure practices can feel disruptive, but it opens the door to smarter, more resilient development.
2. Get the right experts on board early. Cross-disciplinary collaboration, urban planners, ecologists, engineers, and regulators, is the key to success.

As we move toward a future of growing climate and resource challenges, the question isn’t can we afford to build with nature, it’s can we afford not to.

About the Author
Nivine Issa is the Managing Director of Terra Nexus, an environmental consultancy based in Dubai and part of the Inogen Alliance. She specializes in sustainable infrastructure, environmental planning, and integrated nature-based solutions for high-impact development projects across the GCC.

As global trade is set to double by 2050, according to a new climate advisory report from JP Morgan, port infrastructure around the world faces unprecedented pressures from climate risks, sea-level rise, and escalating demand. Ports handle over 80% of global goods by volume, and without significant upgrades and resilience planning, these critical gateways risk becoming choke points in global commerce.

JP Morgan’s report details a vulnerable industry: annual damage from climate-related natural disasters alone averages $7.6 billion, with risks heavily concentrated in hurricane-prone areas like the U.S. Gulf Coast and typhoon-vulnerable regions of Southeast Asia. By 2050, sea levels could rise to 40 centimeters, potentially costing ports up to $768 billion to adapt and prevent trade disruptions.

DP World’s Action to Future-Proofing Ports

Against this backdrop, DP World is taking proactive steps to ensure sustainable and resilient global trade infrastructure. Recognizing the critical role ports play in the global supply chain, DP World embeds sustainability as a core function across its network, enhancing resilience against climate-related disruptions while significantly reducing its environmental impact.

DP World’s “Our World Our Future” sustainability strategy charts the path to a net zero future by minimizing risks identified in JP Morgan’s report. At Jebel Ali Port in Dubai, DP World oversees comprehensive electrification, deploying electric vehicles and cranes to significantly reduce emissions and enhance operational efficiency. Similarly, at the Canadian ports of Vancouver and Prince Rupert, DP World manages shore-side power facilities, allowing docked vessels to switch off diesel engines, dramatically reducing local air pollution.

DP World’s Port of Vancouver is also leading the way in renewable fuel consumption and the use of advanced electric handling equipment, further minimizing carbon footprint. Other critical DP World efforts include extensive waste management initiatives at their terminals, like the ‘Zero Landfill’ practices at the Port of Santos, Brazil which substantially reduces consumption and pollution.

Becoming a Global Model to Follow 

JP Morgan highlights a growing gap between adaptation and mitigation planning at global ports – 89% have mitigation plans, yet only 66% have clear adaptation strategies. DP World stands out by bridging this gap, demonstrating global leadership through initiatives like the Thames Freeport in London – dubbed a “low-carbon highway” – where infrastructure electrification, solar energy utilization, and emissions management have become a model for other ports worldwide.

Beyond traditional infrastructure, DP World actively explores nature-based solutions, such as restoring mangroves and coastal ecosystems, creating natural barriers against extreme weather. The company partners with Living Seawalls in countries like Peru and the UAE to restore natural ocean habitats and attract marine life. In Ecuador, DP World is investing in coastal protection through mangrove restoration, which not only mitigates flooding but also enhances biodiversity and supports local communities.

Moving forward: A Mandate for Sustainable Ports

JP Morgan’s research clearly underscores the urgency: the choices ports make today will define their operational viability tomorrow. DP World’s leadership in sustainable port infrastructure shows a clear path forward, balancing environmental responsibility with the demands of a rapidly changing global economy. Their approach doesn’t just anticipate the future – it actively shapes it.

PLYMOUTH MEETING, Pa, July 8, 2025 /3BL/ – KeyBank (NYSE: Key) announces it has awarded Philadelphia and Eastern PA educational organizations with funding in 2024 through Pennsylvania’s Educational Improvement Tax Credit (EITC) program totaling $527,222. Additional tax credit funding has been awarded through the state’s Opportunity Scholarship Tax Credit (OSTC) program and Neighborhood Assistance Program (NAP) for a total contribution of $1,193,889.

Under the EITC program, Pennsylvania allows individuals and businesses to obtain a state tax credit equal to 90% of their Pennsylvania state tax liability for eligible contributions. These contributions must be made either to schools that provide tuition assistance to students from low-income households or to approved Educational Improvement Organizations.

“KeyBank’s continued support through Pennsylvania’s EITC program reflects our deep commitment to fostering educational access and opportunity to all students in our community,” said Youseff Tannous, KeyBank’s Eastern Pennsylvania Market President. “We recognize the significant impact of the EITC program and the vital role it plays in enabling us to contribute meaningfully to those organizations that are shaping and educating the leaders of tomorrow. Through our investments, we are helping to provide students with access to innovative learning experiences that inspire growth, development, and a brighter future for our communities.”

The EITC program funding from Key ranges from $20,000 to $50,000 and have been made to the following community organizations:

• Children’s Scholarship Fund of Philadelphia
• Cristo Rey Philadelphia High School
• Devon Preparatory School
• Foundation for Catholic Education
• Gladwyne Montessori School
• Joey F. Casey Memorial Foundation
• Montgomery School
• Pen Ryn School
• Philadelphia School of Democracy, Inc.
• The Church Farm School
• The Hillside School
• The Swain School, Inc.
• Upland Country Day School
• Wyndcroft School
• KenCrest Services
• YMCA of Bucks County
• Wonderspring

KeyBank granted an additional $416,667 through the OSTC program, providing scholarships for tuition assistance to eligible students to attend a public or nonpublic school outside of their district. The remaining tax credit program funds were allocated to serve distressed areas or support neighborhood conservation with affordable housing programs, community services, crime prevention, education, job training or neighborhood assistance through the NAP—specifically the Neighborhood Partnership Program (NPP) and Special Program Priorities (SPP) program.

ABOUT KEYCORP

In 2025, KeyCorp celebrates its bicentennial, marking 200 years of service to clients and communities from Maine to Alaska. To learn more, visit KeyBank Heritage Center. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $189 billion at March 31, 2025.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.

Takeda is pleased to announce the publication of its 2025 Annual Integrated Report. The Report, available in both English and Japanese, sets out:

• How Takeda is investing in discovering and developing new, life-transforming treatments
• How the company is working with others to strengthen health care systems around the world
• And, how it’s using new data and digital technologies to revolutionize drug discovery and development.

The Report looks back on a successful FY2024 – a year of strong business performance and renewed confidence in the company’s growth outlook.

It also highlights Takeda’s efforts to minimize its impact on the environment, support innovation and create a culture of lifelong learning for its approximately 50,000 employees worldwide.

“We are enhancing efficiency, growth and resilience across our organization… I am confident that we have a sustainable business strategy that will serve patients, society and shareholders well in the years ahead.”

– Christophe Weber, Takeda President and Chief Executive Officer

Highlights of Takeda’s 2025 Annual Integrated Report

Groundbreaking science

In FY2024, Takeda invested USD 4.9 billion in research and development (R&D). Recent R&D investments have helped the company establish an exciting late-stage pipeline, with the potential to deliver significant value to both patients and Takeda in the coming years.

These late-stage programs are backed up by the company’s cutting-edge research organization and a highly innovative early- to mid-stage pipeline.

Takeda’s portfolio of Growth & Launch products, meanwhile, accounted for 48% of the company’s revenue in FY2024. These products include ENTYVIO®, a treatment for ulcerative colitis and Crohn’s disease, QDENGA®, Takeda’s dengue fever vaccine, and FRUZAQLA®, used in the treatment of metastatic colorectal cancer.

• First approved in 2022, Qdenga® is now available to help combat rising cases of dengue fever in 29 countries worldwide.

“In this line of work, you have to believe that cures are possible for both rare and more prevalent diseases. They’re possible because we’re living at a time of unparalleled scientific understanding and discovery.”

– Andy Plump, Takeda President of Research and Development

Putting patients first

Takeda is working to remove the many complex social barriers that can prevent people getting the treatment they need.

That means helping train new health workers, improve prevention, screening and diagnosis, and provide financial assistance to patients who can’t afford treatment.

Currently, Takeda is working closely with governments and NGOs to strengthen health care systems in more than 80 Low- and Middle-income countries.

At the same time, the company has partnerships with community organizations across the U.S., reaching nearly 11 million people in FY2024 – improving access to health care, as well as supporting better nutrition and vital education in Science, Technology, Engineering and Math.

• Since 2017, Takeda has enrolled 8,193 people in patient assistance programs in LMICs and countries with evolving health care systems, helping bridge the affordability gap for patients unable to afford prescribed medicines.

Creating a digital pipeline

Digital technology is transforming health care. Takeda is using more real-world and smart technologies like AI to bring better medicines to patients faster.

In doing so, Takeda is creating a digital pipeline to mirror its R&D pipeline, making investments that will revolutionize the company’s approach to developing, manufacturing and marketing its medicines and vaccines.

In particular, the company sees more and more uses for AI – in everything from processing clinical trial data to identifying new efficiencies in its manufacturing.

During the year, Takeda launched Takeda.AI – a hub that brings together its AI initiatives – and Takeda.IO, which allows company teams to create and develop new prototypes in a controlled, secure “sandbox” environment.

• Takeda has 5 Innovation Capability Centers (ICCs) globally. With our ICCs, we’re building many of own AI and GenAI models.

Read More

JACKSON, Tenn., July 8, 2025 /3BL/ – As the first products rolled off the line at the Dixie® Tableware manufacturing site in Jackson, one year ago this month, it marked more than a milestone. It was the first new Dixie® greenfield plant build since the Bowling Green, Kentucky, facility opened in 1991. And it was the beginning of something bigger for the people of Jackson, a vote of confidence in their city, their workforce, and their future.   

Georgia-Pacific selected Jackson because the city has a strong manufacturing footprint, and a highly skilled workforce to support its operations. But the company also noted that Jackson is a wonderful, vibrant community. Leaders at the facility wanted to reflect that spirit — not just in what it makes, but in how it feels for the employees that come into work each day. They turned to local artist and Jackson native Samantha Wood. Her bold, colorful artwork now line the breakroom walls, celebrating everyday moments — the kind Dixie® products are made for — while giving employees and visitors a sense of place and pride. 

Watch the video to learn more.  

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