Author: sHq_LoGiNz

NEW YORK, August 12, 2026 /3BL/ – The International WELL Building Institute (IWBI), the global authority for advancing health in buildings, organizations and communities, and the Health Product Declaration Collaborative (HPDC), a U.S.-based nonprofit standards organization and steward of the Health Product Declaration (HPD) Open Standard, today announced a strategic collaboration designed to simplify how manufacturers showcase product transparency information across both organizations’ product platforms while making it easier for project teams to identify products that support healthier and more sustainable buildings.

The collaboration reflects a broader IWBI initiative to work with industry organizations and product information platforms to create a more connected, efficient and user-friendly ecosystem for healthy building products, materials and services. By aligning existing transparency tools and product information pathways, IWBI and HPDC aim to reduce duplicative work and costs for manufacturers. The joint effort will enhance user experience on the WELL Directory and the HPD Builder and HPD Public Repository, making it easier for project teams to discover products that support WELL strategies.

“As the market increasingly prioritizes health and sustainability, manufacturers and project teams need simpler, more connected ways to navigate product information,” said Jessica Cooper, IWBI Chief Product Officer. “Our collaboration with HPDC helps simplify that journey by building on existing transparency efforts, removing duplicative workload and improving access to information that supports healthier and more sustainable building decisions.”

“Manufacturers have already done the hard work of disclosing what’s in their products. This collaboration lets them put that existing transparency data to work toward the Works with WELL recognition – instead of recreating it,” said Wendy Vittori, Executive Director of the Health Product Declaration Collaborative. “By connecting our tools with the WELL Directory, we’re making it simpler for manufacturers to participate and easier for project teams to find products that support healthier buildings.”

Key highlights of the collaboration between IWBI and HPDC include:

• Simplified pathways for manufacturers to use existing Health Product Declarations (HPDs) to demonstrate alignment with selected WELL Material requirements.
• New pre-check and pre-qualification capabilities within HPD Builder that help manufacturers identify products eligible for Works with WELL recognition before entering the formal application process.
• Incentives for early users of the pre-check and pre-qualification on HPD Builder when manufacturers apply for Works with WELL licensing.
• Reduced administrative burden and costs by leveraging existing product disclosures rather than recreating information across multiple platforms and systems.
• Improved product discovery for project teams through enhanced filtering capabilities on HPD Public Repository that help identify products aligned with health and sustainability goals.
• Joint education and industry engagement through webinars, shared resources and collaborative programming. To kick off the collaboration and help manufacturers and specifiers take advantage of its streamlined user experience, IWBI and HPDC will host the first industry-wide educational webinar at 2 p.m. ET on August 18, 2026. Register here.

The collaboration introduces new functionality within HPDC’s product transparency tools that helps manufacturers identify products aligned with selected WELL Material features. Products meeting qualifying criteria will have streamlined pathways into IWBI’s Works with WELL program, which recognizes products and services that support WELL Certification and healthier spaces.

For architects, designers, owners and project teams, the collaboration simplifies the process of finding and evaluating products that support health and sustainability goals. New filtering capabilities across participating platforms will help users more easily navigate and compare relevant product options. The collaboration with HPDC marks the latest endeavor by IWBI to broaden its cooperation with industry organizations and platforms to make healthy building products and services more accessible to manufacturers, project teams and end users. IWBI continues to work with other industry organizations to achieve this goal.

Recently, IWBI and the Business and Institutional Furniture Manufacturers Association (BIFMA) aligned on the ANSI/BIFMA e3 Furniture Sustainability Standard and LEVEL® so that the material transparency pathways for furnishings in WELL reference both ANSI/BIFMA e3 and M7.1 requirements for low-emitting products.

In another recent collaboration, IWBI and Ecomedes, a product search platform for healthy and sustainable buildings also agreed to streamline pathways for Ecomedes members to be pre-checked and pre-qualified for Works with WELL participation while providing access to membership incentives. The collaboration also enhances online product discovery by displaying the Works with WELL mark alongside eligible products within the Ecomedes product catalog, helping project teams more easily identify solutions aligned with WELL strategies.

About the International WELL Building Institute
The International WELL Building Institute (IWBI) is a public benefit corporation and the global authority for transforming health and well-being in buildings, organizations and communities. In pursuit of its public-health mission, IWBI mobilizes its community through the development and administration of the WELL Building Standard (WELL), WELL for residential, WELL Community Standard, its WELL ratings and management of the WELL AP credential. IWBI also translates research into practice, develops educational resources and advocates for policies that promote people-first places for everyone, everywhere. Learn more at www.wellcertified.com.

International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL EP, WELL Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rated, WELL Performance Rated, WELL Equity Rated, WELL Equity, WELL Coworking Rated, WELL Residence, Works with WELL, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries.

About the Health Product Declaration Collaborative
The Health Product Declaration Collaborative (HPDC) is a U.S.-based nonprofit standards organization and the steward of the Health Product Declaration (HPD) Open Standard, the leading format for reporting product contents and associated health information. HPDC supports more than 1,000 manufacturers and thousands of project teams in advancing materials transparency, with more than 18,000 published HPDs covering over 40,000 products freely available in the HPD Public Repository. Backed by more than 350 member companies, HPDC develops the tools, standards, and partnerships that make transparent materials information accessible to everyone. Learn more at www.hpd-collaborative.org.

Media contact:
Health Product Declaration Collaborative: Jeff Toffoli, jtoffoli@hpd-collaborative.org
IWBI: media@wellcertified.com

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By GoDaddy

If you’ve spent any time on social media lately, chances are you’ve seen Lola Blankets. Maybe you’re even curled up under one right now. In this episode, Angie K. sits down with Tommy and Will Higham, the co-founders behind the viral brand, to talk about what it takes to scale a business and turn an everyday product into a must-have obsession. They share how they created a product customers couldn’t stop talking about and transformed a simple blanket into a lifestyle brand. Additionally, GoDaddy Small Business Research Lab shares fresh insights and a founder spotlight with Tyron Harper, co-founder of Harp Vision, who shares how getting his business online became a game-changing move that allows him to reach customers even while he sleeps.

Watch the video here.

Follow @GoDaddyNews on Instagram for exclusive podcast content.

About GoDaddy School of Hustle with Angie K.

GoDaddy’s School of Hustle hosted by Real Housewives of Salt Lake City’s Angie Katsanevas examines the “reality” facing today’s entrepreneurs and secrets behind navigating the plot twists along the way to success. Each episode is a totally candid conversation with newsmakers and GoDaddy customers led by fan-favorite Angie K who was a hustler long before the Bravo cameras started rolling.

About GoDaddy

GoDaddy, the world’s largest domain name registrar, helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services and accept payments. GoDaddy Airo®, the company’s AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy’s expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com.

Surgical innovation is fundamental to Smile Train’s sustainable cleft care model because it helps local healthcare professionals provide safer, higher-quality treatment at scale. While our innovations can take the form of the newest or most complex technology, a simple training resource, affordable patient-monitoring device, or better-equipped operating room is often just as transformative for our patients and local healthcare partners. What matters most is giving medical professionals access to all of the trainings, tools, and infrastructure they need to provide consistently safe, high-quality cleft care in their own communities 24/7.

Why cleft care demands more than a single surgery

Clefts occur when parts of the lip or roof of the mouth (palate) do not join completely during fetal development. A cleft can affect the lip, the palate, or both. Around one in every 700 babies is born with a cleft, and almost five million people worldwide have an untreated cleft of some kind. Clefts are far more than cosmetic. Left untreated, they can make breathing, hearing, and speaking difficult. Sometimes, they can even cause life-threatening feeding complications.

Cleft surgery is transformative, but rarely enough on its own for those affected to thrive. Most people with clefts will also need feeding and nutrition support, speech therapy, dental and orthodontic treatment, ear and hearing care, psychosocial support, and more. Making sustainable cleft care available everywhere means building local systems that can provide these comprehensive services at the right times throughout a patient’s life.

How Smile Train’s sustainable cleft care model works

Smile Train’s founder, the late tech entrepreneur Charles B. Wang, understood that making his vision a reality would require much more than paying for individual surgeries. It would necessitate major investments in scaling medical knowledge sharing, surgical training, and durable, high-quality surgical tools.

That insight planted the seed for Smile Train’s “teach a person to fish” model: Rather than sending foreign doctors on temporary medical mission trips to perform surgery sprints and then leave, we empower local hospitals and healthcare teams in more than 75 countries to provide year-round cleft surgery and comprehensive cleft care in their own communities. This means patients can access the multifaceted care they need on the timeline that is best for their individual treatment journey, from providers who share their language and culture, long after outside mission groups pack up and go home. Smile Train’s model ensures better outcomes for patients and families while strengthening local health systems around the world.

This approach is both sustainable and profoundly effective. In 2025 alone, Smile Train supported:

• 94,450+ cleft surgeries across more than 75 countries
• 131,875+ non-surgical cleft treatments, including:
  • 25,750+ nutritional interventions
  • 80,210+ speech sessions
  • 25,900+ orthodontic appointments
• Nearly 34,620 hours of training delivered to 2,450+ healthcare providers

Training is the multiplier in Smile Train’s model: one properly equipped healthcare professional can treat patients year after year, train colleagues, and strengthen the wider local health system. While a cleft surgery can change one person’s life, a trained, properly equipped healthcare professional can care for patients year after year, share knowledge with colleagues, and strengthen all facets of local healthcare beyond clefts.

How Smile Train made cleft surgery training portable

Smile Train’s earliest surgical innovations were designed to allow expert surgical knowledge to travel places it had rarely been before. In 2002, we began distributing surgical training CD-ROMs to partner healthcare centers; the following year, the Tech Museum of Innovation honored our use of technology to promote sustainable cleft care. In 2008, we distributed our first DVDs for virtually training cleft surgeons.

These tools may seem basic, but they addressed the same essential problem as more advanced solutions: How can a surgeon learn a specialized technique when the nearest expert is hundreds of miles away?

How virtual surgical simulation expands cleft surgery training

In 2013, Smile Train’s digital training capacity took the next step forward with the launch of the Virtual Surgery Simulator (VSS), the first web-based, 3D, interactive surgical explorer for cleft care. Developed in partnership with the software company BioDigital and expert surgeons, it combines interactive 3D anatomy, operative footage, text, and narration. The VSS is freely available, multilingual, and designed for self-guided learning, allowing medical professionals to review complex procedures from their phone or computer from anywhere.

Unlike a paper textbook, the VSS allows learners to examine anatomy from different angles and move through a procedure step by step. It does not replace supervised clinical education; rather, it gives trainees a consistent resource they can revisit before and after hands-on instruction.

In 2025, we built on this idea to create the Virtual Reality Operating Room. Here, a surgeon can put on a headset and enter a simulated operating room alone or join an instructor to practice under supervision — even when the participants are thousands of miles apart.

In one study of 20 plastic surgery residents, participants reported that the VR operating room significantly increased their understanding of cleft palate surgical techniques and boosted their confidence using VR for surgical education. Though the study did not measure long-term patient outcomes, it nonetheless demonstrates how virtual training can effectively extend expert instruction across distance.

Inside Cleft 2025 in Kyoto

Smile Train and our local partners used the world’s premier cleft conference to showcase the many ways we are transforming cleft treatment worldwide.

Read our recap

How Simulare Medical’s cleft surgery simulators support safer training

Digital tools are only one aspect of cleft surgical training technology. Surgeons also must practice the delicate, precise physical movements their craft requires in ways that no digital space could replicate, including making incisions, separating delicate tissue layers, and suturing within the tiny space of a baby’s mouth and face.

Yet there was no tool for this until Drs. Dale Podolsky and David Fisher, two surgeons at SickKids Hospital in Toronto, created a lifelike, 3D-printed cleft simulator. The response was so positive that they formed a company to produce and distribute them globally, Simulare Medical. In 2020, Smile Train took on the company’s operations to place these state-of-the-art training devices into the hands of those who live and practice far from the major centers of medical training and innovation, for free. 

Simulare Medical simulators are life-size and anatomically precise, with layers designed to reproduce the visual and tactile experience of operating on skin, muscle, bone, and other tissue. Since becoming part of Smile Train, Simulare Medical’s product line has expanded from cleft lip and palate models to the world’s first bilateral cleft, alveolar bone graft, and speech surgery simulators.

At supervised workshops around the world, trainees repeat difficult steps, receive feedback, make mistakes safely, and refine their technique before ever touching a real patient.

The need for these tools is not limited to lower-resource settings; after all, Simulare Medical was created out of necessity at one of the world’s premier children’s hospitals. That’s why Smile Train is now exploring strategic partnerships with some of America’s leading hospitals and medical associations to make these simulators more widely available to all who could benefit from them.

Behind the Scenes at Simulare Medical

An inside look at how our dedicated team meticulously handcrafts every Simulare Medical simulator.

Partnerships make innovation scalable

No organization and no technology can solve every challenge in global surgery on its own. Smile Train seeks out partnerships with other leading global health leaders whose expertise complements our own.

Lifebox

Co-founded by leading surgeon, author, and public health advocate Dr. Atul Gawande, Lifebox is the premier organization making surgical technologies that are standard in high-income ORs available worldwide.

In 2020, we launched the multi-year Safe Surgery and Anesthesia Initiative. The goals were to support the distribution of Lifebox’s low-cost, high-quality pulse oximeters and develop and distribute an affordable, durable capnograph designed specifically for pediatric care. The initiative was a success, and our organizations continue to work closely together to improve surgical outcomes around the world.

Kids Operating Room

Scottish charity Kids Operating Room and Smile Train are working together to transform outdated operating rooms in Africa and Asia into vibrant, comforting, and fit-for-purpose surgical spaces designed specifically for children.

We are also partnering to address an urgent and sometimes deadly issue facing surgical care across the continent: frequent power blackouts in operating rooms. Our solution: Upgrading these spaces with solar panels and battery systems that serve as critical backup power. By harnessing the power of the sun, we are keeping vital equipment running when local electrical grids fail — while saving lives and making safe, reliable surgery available to all in need, not just people with clefts.

What makes global surgery innovation sustainable?

A surgical innovation is more likely to make a lasting impact when it is:

• Developed around a real clinical or training need
• Practical for local teams to use and maintain
• Paired with education, mentorship, and uncompromising quality standards
• Available throughout the year, not only during occasional visits
• Able to spread through local institutions and professional networks

That is why developing a local surgical workforce is central to Smile Train’s model. Our goal is not merely to outfit our partners with more technology; it is to give them the knowledge, confidence, equipment, and institutional support they need to lead scalable cleft surgery programs themselves. 

Key takeaways

Smile Train’s history of surgical innovation is not a straight line from low-tech to high-tech tools. It is an ongoing effort to identify the simplest effective solution to a problem, test it, improve it, and place it in the hands of local professionals.

From CD-ROMs and online videos to virtual reality, from solar-powered operating rooms and 3D-printed surgical models to affordable, durable anesthesia monitoring equipment and everything in-between, every surgical innovation Smile Train has fueled since our founding in 1999 has served the same purpose: helping local teams provide safer, higher-quality, and more sustainable cleft care today, tomorrow, and for generations to come.

In review

How does Smile Train improve access to surgery?

Smile Train improves access to cleft surgery by partnering with local hospitals and healthcare professionals, funding cleft treatment, and investing in training, equipment, technology, and infrastructure around the world. Because the care we support stays in communities, patients can receive treatment at the time that’s best for them rather than waiting for a visiting surgical program.

What is Smile Train’s “teach a person to fish” model?

Our “teach a person to fish” model focuses on equipping local professionals to provide safe cleft surgery and other comprehensive care in their own communities. Training providers benefits many future patients and strengthens the wider local health system, making this approach more scalable than relying only on individual short-term interventions.

What is sustainable cleft care?

Sustainable cleft care is locally led, year-round treatment that communities can continue providing over time. It includes high-quality cleft surgery as well as nutrition, speech, dental and orthodontic care, ear and hearing services, psychosocial support, and other treatments as needed.

How does surgical simulation support high-quality cleft surgery?

Surgical simulation allows trainees to practice difficult procedures repeatedly without putting a patient at risk. Digital, virtual reality, and physical simulators each support technical practice, expert feedback, and preparation for the operating room in their own unique way, complementing, rather than replacing, supervised clinical experience.

Small businesses are the backbone of local economies, but access to expertise, mentorship and growth resources can be just as important as access to capital. That’s the idea behind Key4Entrepreneurs℠, KeyBank’s complimentary program designed to engage, educate and empower entrepreneurs through practical education, expert guidance and meaningful connections.

One of the program’s first signature initiatives recently culminated with the successful completion of a 10-week business accelerator developed in collaboration with the Lower Hudson Valley Small Business Development Center (SBDC) and the U.S. Small Business Administration (SBA). The accelerator brought together 53 entrepreneurs representing industries including technology, engineering, legal services, accounting, retail and professional services, providing participants with tools and strategies to help strengthen and grow their businesses.

Launched May 1, 2026, Key4Entrepreneurs was created to help business owners at every stage of growth access resources, build knowledge and develop relationships that can support long-term success. Through partnerships with organizations such as the Lower Hudson Valley SBDC and SBA, the program connects entrepreneurs with expertise that can help them navigate challenges, identify opportunities and pursue sustainable growth.

A Collaborative Approach to Entrepreneurial Success

The accelerator combined the strengths of each organization to create a comprehensive learning experience for participants. Over the course of 10 weeks, entrepreneurs participated in four expert-led workshops covering:

• Crafting a Unique Brand Identity
• Delivering Exceptional Client Service
• Cash Flow and SBA Capital
• AI for Business Growth and Pitch Preparation

The Lower Hudson Valley SBDC contributed business advisory expertise and entrepreneurial coaching, while the SBA provided guidance on available resources and capital access. Through Key4Entrepreneurs, KeyBank helped connect participants to educational programming, financial expertise and opportunities to build valuable professional networks.

Recognizing Entrepreneurial Excellence

The accelerator concluded on July 10 with a Pitch Contest, where participants presented business growth plans to a panel of judges for the opportunity to receive an award to support the next stage of their business development. A total of $30,000 was awarded to three entrepreneurs, with an additional 10 businesses receiving $1,000 honorable mention awards. 

• First Place: Orane Barrett, Kool Nerd Connect ($10,000) – Kool Nerd Connect provides industry and career-awareness courses to middle and high school students, helping bring real-world career exposure to young people in underserved communities. Since 2020, the organization has served more than 1,405 students across eight New York geographies. 
• Second Place: Theresa Weber, All Heart Baking Company ($7,000) – After years of sharing her annual holiday cookies with family and friends, Weber founded All Heart Baking Company to bring joy to customers through artisan cookies and creative flavor combinations. 
• Third Place: Anthony Moreno, Fusion House ($3,000) – Fusion House was created to help adults build stronger, healthier and more connected lives through expert coaching, small-group training and a supportive fitness environment. The business focuses on serving adults over 50, beginners and individuals returning to exercise after years away. 

Building a Stronger Entrepreneurial Ecosystem

The Business Accelerator reflects the broader mission of Key4Entrepreneurs: helping business owners gain access to the knowledge, resources and relationships they need to thrive. Beyond educational programming, the initiative is designed to create opportunities for entrepreneurs to connect with experts, community partners and fellow business owners while strengthening local business ecosystems.

As Key4Entrepreneurs continues to expand, collaborations with organizations such as the Lower Hudson Valley SBDC and the SBA will play an important role in delivering resources and opportunities that help entrepreneurs advance their goals, create jobs and contribute to vibrant communities. 

By combining education, expertise, capital access insights and community partnerships, Key4Entrepreneurs is helping entrepreneurs move from ideas to action and from ambition to growth.

CFMA#: 260806-4826528

August 12, 2026 /3BL/ – The Ray has announced its formal response to the U.S. Department of Energy (USDOE) regarding the Accelerating Speed to Power Initiative. Their strategic blueprint offers a scalable, low-conflict pathway to unlock massive grid capacity by utilizing existing highway and rail rights-of-way (ROW) for high-voltage transmission infrastructure.

To build a replicable national model, The Ray formed a powerhouse strategic coalition of leaders in transportation, energy, and infrastructure planning:

ElectroTempo, Inc. provides machine learning to forecast grid-load zones;

Cambridge Systematics brings data-driven transportation policy expertise;

Minnesota Department of Transportation (MnDOT) serves as an innovative state agency partner helping develop approaches to safely integrate energy infrastructure into public corridors.

The collaborative effort also leverages key partners across the country, including the American Association of State Highway and Transportation Officials (AASHTO) through its “Moonshot Initiative.”

Solving the Gridlock: The Case for Corridors

Traditional grid expansion is frequently slowed by complex land acquisition and lengthy permitting cycles. By shifting focus to in-use public assets such as highways and rail lines, the Speed to Power vision dramatically minimizes community disruption and reduces the need to purchase private property.

Furthermore, existing transportation corridors may qualify for National Environmental Policy Act (NEPA) categorical exclusions, streamlining environmental reviews and accelerating project development timelines. This optimized delivery model is critical to support the rapid growth required for next-generation economic drivers, including data centers, advanced manufacturing, and the electrification of freight logistics.

Proven Models and Emerging Corridors

The Ray’s approach is grounded in real-world success. For example, they highlight the SOO Green HVDC Link, a 350-mile underground high-voltage direct-current transmission line that primarily follows the Canadian Pacific Kansas City railroad corridor. By utilizing existing transportation ROW, this $2-3 billion merchant project bypasses traditional private land acquisition conflicts to deliver 2,100 MW of capacity between regional grids.

Using ElectroTempo’s data-driven forecasting, The Ray identified five key “Emerging High-Load Corridors” where targeted investment will yield the highest impact between 2025 and 2030:

Mid-Atlantic: Richmond–Frederick–Harrisburg (Projected 8–10 GW growth).

Texas Triangle: Dallas–Austin–San Antonio (Projected 6–8 GW growth).

Midwest: Columbus–Indianapolis–Chicago (Projected ≈7 GW growth).

Southeast: Savannah–Charleston–Raleigh (Projected 5–6 GW growth).

Southwest: Phoenix–Las Vegas–Southern NV (Projected 5–6 GW growth).

The Structured Path to Execution

The Ray’s strategy moves immediately from theory to execution using advanced technology, interagency coordination, and creative project financing:

Advanced Spatial Mapping: The Ray’s Esri-backed ROW Transmission Deployment Tool integrates transportation and grid datasets, allowing planners to dynamically map and analyze proposed routes.

Braided Project Funding: To bridge critical capital gaps, The Ray promotes deeper coordination between USDOE and USDOT funding programs to help states braid available federal resources for transmission projects.

Policy Implementation and Technical Support: The Ray’s recommendations highlight state policy models, such as Minnesota’s utility colocation law (HF 5247), and the technical assistance and coordination needed to help states advance safe transmission colocation.

Interagency Alignment: The Ray advocates for a federal ROW Transmission Interagency Working Group to cut through red tape and harmonize workflows between energy regulators and state DOTs.

By advocating for these targeted solutions, The Ray seeks to provide state leaders with the tools and technical guidance necessary to safely modernize the country’s infrastructure, paving the way for a more efficient and resilient national grid.

Jonathan Hunt | Principal—AB CarVal

Private credit is becoming the engine driving Europe’s energy transition.

We are living in an era of rising electricity demand. The electrification of vehicles and buildings, the construction of AI data centers and efforts to decarbonize industry are creating a deep pipeline of renewable energy opportunities for investors around the globe. But in Europe, there’s another catalyst: energy security.

Energy security has long been a hallmark of European Union policy. Renewable energy—primarily solar and wind—already account for more than 60% of the European Union’s installed electricity capacity—well above the share of renewables in the United States. But that isn’t enough to meet total energy demand. The United States, on the other hand, is a net energy importer (Display).

 

For Europe, imported natural gas typically fills the gap. But the war in Iran and the closure of the Strait of Hormuz have pushed gas prices higher and driven up electricity bills. A similar power price pike followed the start of the Russia-Ukraine war in 2022.

This matters because European electricity prices are set by the most expensive energy source needed to meet demand—usually natural gas. When gas prices rise, electricity bills go up, even if the power was generated by wind farms. As European Commission president Ursula von der Leyen put it recently, the EU has spent an additional €24 billion on energy imports since the Iran war started “without receiving a single extra molecule of energy.”

Satisfying a Long-Term Need

At the policy level, governments are doubling down on efforts to reduce dependence on energy imports and boost domestic renewable power development. This includes plans to accelerate the shift to homegrown energy as a replacement for imported gas, oil and other fossil fuels. These efforts stand to complement other ambitious EU decarbonization goals.

EU policy also calls for maximizing the use of existing renewable energy infrastructure and working with industry leaders and project developers to secure new financing. In the words of Philip Lane, the chief economist of the European Central Bank, “a green transition leading to lower dependence on fossil fuel sources could have a triple dividend: cutting greenhouse gas emissions, reducing the impact of global energy shocks on inflation and increasing energy security.”

Private Credit Steps In

It won’t come cheaply, though. The European Commission says it will need an estimated €660 billion in annual investment through 2030 and another €695 billion per year over the subsequent decade to meet its decarbonization targets. That’s nearly three times the annual investment average between 2011 and 2020 and more than public budgets or traditional banks can provide on their own. At the same time, tighter capital rules are accelerating European banks’ retreat from many types of lending, including long-dated project finance.

We expect the recent geopolitical instability to accelerate government and private capital investment into renewable energy and storage solutions, broadening the long-term investment thesis beyond climate policy to include national security priorities, durable demand growth and the need for a reliable domestic energy supply.

For experienced lenders, this should create openings to finance projects that increase renewable energy capacity and energy security while potentially delivering strong returns driven by elevated power prices.

For investors, benefits may include:

• Strong near term cash flows and structural demand tied to elevated power prices and energy security priorities
• Higher pricing and better loan structures driven by today’s high cost of capital
• Contracted revenues linked to inflation, which may limit erosion of real returns
• Attractive risk-adjusted return potential tied to resilient demand and policy support

In the years ahead, we expect to see opportunities to provide flexible credit solutions for renewable and energy transition assets at key points in their lifecycles. This may include construction and late-stage development financing and structured solutions for solar, battery storage and other established renewable asset types.

Investment structures can involve lending directly against European solar and battery storage assets and their contracted revenues as well as providing financing to parent companies that own a portfolio of renewable assets.

For lenders with deep knowledge of renewable energy assets and strong underwriting skills, the ability to provide mezzanine—or junior-level—financing may be particularly attractive for its increased return potential.

Underwriting Experience Matters

Financing the renewable energy space can be complicated, making underwriting expertise critically important. That includes the ability to underwrite loans with conservative leverage, contracted revenues and robust covenants.

Equally important is a lender’s ability to identify and focus on projects with clearly defined timelines for long-term takeout and stabilization, which comes when the asset is connected to the grid and generating steady revenue under a long-term contract. As we see it, lenders must have a deep understanding of what are often complex financing arrangements.

Sourcing expertise also matters. While the EU sets general targets and directives, countries implement them differently. Permitting timelines, grid connection processes, tax treatment and other rules vary from country to country.

Reducing Exposure to Cycles

Solar and wind projects and battery storage facilities are typically set up as stand-alone legal entitles, with repayment supported by dedicated cash flows that are often governed by long term contracts, including power purchase agreements or regulated frameworks.

As a result, cash flows tend to be predictable over extended periods and may incorporate inflation linkage or other contractual protections that reduce exposure to economic cycles.

We expect geopolitical instability and more frequent energy shocks to speed up sovereign and private capital investment into renewable energy and storage capacity across Europe—even after current hostilities fade.

That should broaden the long-term investment case beyond climate policy to national security priorities, durable demand growth and the need for a reliable, low-cost domestic energy supply. For investors, we think private credit offers an attractive way to tap into the shift to renewable power and its potential benefits.

The views expressed herein do not constitute research, investment advice or trade recommendations, do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.

Learn more about AB’s approach to responsibility here.

Working Together, Working for Better

At DaVita, people are the foundation of our community and the driving force behind our pursuit of a healthier tomorrow for all. Rooted in our identity as a community first and a company second, we foster an environment where every teammate can thrive, feel supported and contribute meaningfully. Our culture is built on shared purpose, meaningful connection, authentic belonging and professional growth that inspires individuals to bring their best selves to work every day.

External Recognition as an Employer of Choice

• FORTUNE® World’s Most Admired Companies¹
• USA Today Top Workplaces
• Newsweek America’s Greatest Workplaces in Health Care
• WorldBlu Certified Freedom-Centered Organization

Creating a Culture of Belonging for All
Our culture of belonging reflects how we hire, train, manage and develop our teams.

We offer every new teammate our Basics of Belonging course, and every member of our team — from front-line care to executive leadership — is encouraged to pursue our robust suite of ongoing belonging education.

According to our most recent survey, 85% of teammates report that they feel like they belong at DaVita, and 83% report that their manager successfully creates a sense of belonging. 

Belonging consistently emerges as a key driver of engagement for our teammates. Our strong belonging scores helped drive a teammate engagement score of 85% in 2025, which ranks among the best in our industry and in U.S. companies overall.

A cherished DaVita program, our annual Week of Belonging, offers all teammates an opportunity to engage with intentional activities that cultivate and amplify belonging.

Our Teammate Resource Groups, open to all, continue to support teammate connection and belonging within our clinics and business offices.

We promote multiple forums for teammates to have their voice heard — from informal conversations with leaders to planned events like Town Halls and company-wide calls to our bi-annual engagement survey.

Our Belonging Behaviors

• Creating Trust and Safety
• Respecting and Valuing Others
• Providing Consistent Support

Commitments in Action

Redwoods Campus Recruiting
A DaVita tradition since 2005, our Redwoods program is just one example of our commitment to cultivating  leadership from within. Far more than standard campus recruiting, our Redwoods team works directly with campus organizations supporting students with business interest in healthcare and general management to recruit select cohorts of high-potential students, including women, students of color and military veterans. The program supports all participants with a dedicated mentor and a full two years of specific and structured leadership training.

DaVita Redwoods is proud to partner with a broad range of public and private institutions to open a unique door to professional growth.

Representation at Every Level
We’re proud to have strong representation for all by hiring the most qualified talent. We meet or exceed 68% of EEO-1 benchmarks across our full teammate population as of December 31, 2025. Highlights of this reporting period include:

Fostering Diverse Perspectives in Leadership
We are committed to hiring the most qualified individuals and ensuring our programs and practices open doors for growth, opportunity and long-term success at DaVita for all teammates. We believe that diverse perspectives strengthen our leadership and enhance our ability to serve our patients, teammates and communities. We engage a broad range of high-potential candidates through our recruiting process, and we provide all teammates a variety of training opportunities to develop the skills needed to move into leadership roles.  

Read more in DaVita’s 2025 Community Care Report
 

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