Tag: 3BL

Businesses across the globe are facing increasing pressure to build a thorough corporate climate strategy to manage physical risks like floods and droughts, and transition risks related to shifting regulations and customer demands.

Investors, regulators, and customers are all driving the need for change, as well as meaningful and measurable results. A robust climate strategy is no longer optional; it’s essential for staying resilient, competitive, and trusted in a fast-changing world.

This article will detail the needs for corporate climate strategy, key elements to include, and the benefits that businesses can achieve.

Climate Risk is Business Risk

A corporate climate strategy helps companies manage climate-related impacts that disrupt operations and drive up costs. Physical risks may include natural disasters such as floods, extreme weather , and droughts. These events can disrupt global supply chains through impacts to production and storage facilities, interruptions to transportation, and marketplaces.

Businesses are already feeling the financial and operational impacts of climate risk.

• Extreme weather costs EU farmers 28 billion euros a year
• EU’s ‘chocolate crisis’ worsened by climate breakdown and wildlife loss
• Insurance costs for commercial real estate are outpacing rent increases and general inflation.

Evolving climate-related regulatory requirements such as emissions reduction targets, energy efficiency mandates, and building codes also pose new challenges to businessses. Shifts in carbon pricing can significantly increase operational costs if production methods are emissions-intensive. Companies that delay action risk losing market share, investor confidence, or falling out of regulatory compliance.

Regulatory and Market Drivers are Accelerating Change

New corporate climate regulations, such as the Corporate Sustainability Reporting Directive (CSRD) in the EU and the California bill 261 and other state bills in the U.S. accelerate the need for corporate climate strategy. These laws require reporting on:

• Business impact on environmental and social factors
• Identified climate-related risks and opportunities
• Sustainability-related financial information
• Standards covering ESG topics

Beyond regulatory reporting requirements, climate-related aspects are also being integrated into standardized management systems. In February 2024, the International Organization for Standardization (ISO) amended ISO 9001, ISO 14001, and ISO 45001, to incorporate direct and indirect impacts related to climate change. Organizations certified under these standards are now required to assess climate-related risks and opportunities as part of their risk management processes.

Additionally, Investors have come to prioritize climate-related disclosures and decarbonization strategies. within their portfolios. Transparent reporting on climate risks and mitigation efforts is becoming a critical factor in investor assessments.

The Business Case for a Corporate Climate Strategy

Developing and adopting a climate strategy empirically benefits businesses. Climate action supports operational efficiency, energy savings, and cost control.

Green buildings, for example, can enhance return on assets and profits due to savings in utility operating costs. The use of sustainable components/materials in building construction can increase overall property value.

Businesses of any size can take meaningful action to achieve climate goals. Public and high-profile initiatives, such as achieving climate neutrality, gain the favor of employees, customers, and partners who want to be part of the solution to climate change.

Organizations that take a proactive approach will reap the greatest benefits by anticipating market shifts and future-proofing their business models.

Key Elements of an Effective Corporate Climate Strategy

Comprehensive climate strategies must be actionable and aligned with global standards, including:

1. Comprehensive Greenhouse Gas (GHG) Inventory

A a full GHG inventory encompasses:

• Scope 1: Direct emissions from owned or controlled sources.
• Scope 2: Indirect emissions from the generation of purchased energy.
• Scope 3: All other indirect emissions, such as emissions from suppliers, logistics, product use, and disposal.

Tools like life cycle carbon assessments can provide a more complete picture of emissions across a product’s or service’s lifespan.

2. Science-Based Emissions Reduction Targets

The Science Based Targets initiative (SBTi) provides a framework to meet investor and regulatory demands for credible decarbonization commitments, such as:

• Reducing absolute Scope 1 and 2 GHG emissions by a significant percentage (e.g., 46%) by 2030 from a defined baseline.
• Addressing Scope 3 emissions, especially if they constitute a substantial portion of total emissions.

3. Actionable Decarbonization Roadmap

A successful roadmap translates targets into actionable plans with timelines, investments, and accountability. This can look like:

• Outlining specific initiatives and technologies to reduce emissions.
• Setting interim milestones and timelines to track progress.
• Identifying necessary investments and resource allocations.
• Assigning responsibilities to ensure accountability across the organization.

4. Governance Structures Embedding Climate Risk into Business Planning

Integrating climate considerations into corporate governance involves:

• Incorporating climate risks and opportunities into enterprise risk management frameworks.
• Ensuring board and executive oversight of climate-related issues.
• Aligning incentive structures with climate performance metrics.

Such integration ensures that climate strategy is not siloed, but is a core component of business decision-making processes.

5. Routine, Transparent Reporting and Stakeholder Engagement

Transparency in reporting and active stakeholder engagement are critical for building trust and demonstrating progress. This includes:

• Regularly disclosing climate-related information in line with recognized frameworks (e.g., TCFD, GRI).
• Engaging with stakeholders, including investors, customers, and employees, to gather feedback and align on expectations.
• Continuously updating stakeholders on progress toward climate goals and any adjustments to strategies.

Global Execution Requires Local Expertise

Implementing a corporate climate strategy across multiple countries presents complex challenges. Multinational organizations must navigate a patchwork of regulatory frameworks, cultural nuances, and technical requirements that vary significantly by region. That’s why local expertise is essential to deliver results that meet regional regulations and cultural expectations.

The Inogen Alliance offers a single point of contact and access to 6,000+ local environmental, health, safety, and sustainability consultants to support effective global climate strategies aligned to best practices and client organizational needs.

Assessing Readiness

Corporate climate strategy is critical not just for compliance, but for long-term resilience, competitiveness, and value creation. Businesses that take action immediately will be able to manage the accelerating changes and increasing pressure from regulators, investors, and customers.

Companies should assess their current climate readiness as a starting point to begin or refine their strategic planning. For more valuable insights, subscribe to the Inogen Alliance blog and keep up to date with the latest news.

MEMPHIS, Tenn., June 9, 2025 /3BL/ – FedEx (NYSE: FDX) has announced an agreement with Neste, the world’s leading producer of sustainable aviation fuel (SAF) and renewable diesel, securing more than three million gallons of blended sustainable aviation fuel (SAF) for delivery at Los Angeles International Airport (LAX) to the world’s largest express cargo airline. Through this agreement, FedEx has purchased blended fuel from Neste, to include a minimum of 30% neat Neste MY Sustainable Aviation Fuel. As used in its blended form, the fuel will account for roughly a fifth of all jet fuel consumed annually by FedEx at LAX* and is the largest SAF purchase executed by a U.S. cargo airline at LAX to-date. Delivery of the fuel began earlier this month and will continue over the next year.

“Procuring SAF is an important component of our aviation emissions-reduction strategy in the coming years, and we are pleased to have executed a deal with Neste to begin using this fuel in our air operations,” said Karen Blanks Ellis, chief sustainability officer and vice president of Environmental Affairs, FedEx. “Our aviation network represents the largest amount of FedEx fuel use globally and, as a result, is our biggest opportunity to drive down emissions. As we work toward our goal of carbon-neural operations by 2040, we need the SAF market to continue to grow to meet industry demand.”

“As the world’s preeminent express transportation company, our initial U.S. deployment of this fuel advances our sustainability goals and bolsters the aviation industry’s efforts to source and use more SAF,” said Richard Smith, chief operating officer, International, and chief executive officer, Airline, FedEx. “While we know further growth of the SAF market is needed—alongside other innovations—we are proud to celebrate this milestone with our world-class air network.”

“Neste is excited to work with FedEx and support their ambitious goal of reaching carbon-neutral operations by 2040 with our SAF. Recognizing the important role of air cargo in the global economy, FedEx is demonstrating how this industry can leverage available lower-emission solutions like SAF to reduce its environmental impact. We look forward to further strengthening our cooperation,” says Carl Nyberg, Senior Vice President, Commercial, Renewable Products at Neste.

This fuel purchase by FedEx builds upon years of the company’s efforts to co-create innovative sustainable aviation technologies with other industry leaders, including the ecoDemonstrator flight-test program with Boeing—the world’s first commercial airplane flight using 100% SAF in both engines that was conducted in 2018. In addition to the procurement of SAF, FedEx is pursuing multiple avenues to improve efficiency and reduce fuel consumption in its aviation operations overall, including aircraft fleet modernization, fuel conservation initiatives, and flight planning optimization. Collectively, fleet modernization and fuel saving efforts enabled FedEx in fiscal year 2024 to successfully achieve its goal of a 30% reduction in aviation emissions intensity from a 2005 baseline. FedEx set its first aviation emissions intensity reduction goals back in 2008.

Sustainable aviation fuel, explained
Sustainable aviation fuel is a more sustainable alternative to conventional, fossil-based jet fuel, largely driven by lower emissions from the feedstocks used in the fuel production process. Neat SAF is blended with conventional jet fuel before use and is considered a “drop-in” fuel, meaning it works within existing aircraft engines and fueling infrastructure without any equipment updates.

Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80%** over the fuel’s life cycle, compared to using conventional jet fuel. Neste SAF is made from 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste.

While SAF production continues to grow in the U.S. and internationally, SAF accounted for less than 1% of all global jet fuel production in 2024. Amid the need for greater alternative fuel availability and accessibility for all airlines, FedEx will continue to advocate for expanded production and highlight SAF’s potential environmental and economic benefits.

Learn more about the FedEx sustainability strategy and the company’s goal of carbon neutral global operations by 2040 here: https://www.fedex.com/en-us/sustainability/our-approach.html

* Based on FY25 fuel use forecasts

** When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology

About FedEx

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding business strategies and management’s views with respect to future events, and the assumptions underlying such expected statements. Forward-looking statements include those preceded by, followed by or that include the words “will,” “may,” “could,” “would,” “should,” “believes,” “expects,” “forecasts,” “anticipates,” “plans,” “estimates,” “targets,” “projects,” “intends” or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, our ability to achieve our goal of carbon-neutral operations by 2040 and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward–looking statement, whether as a result of new information, future events, or otherwise.

Click here to learn about FedEx Cares, our global community engagement program.

MEMPHIS, Tenn., June 9, 2025 /3BL/ – National Forest Week, held annually during the second week of June, raises awareness for the 193 million acres of National Forests across the United States and the benefits these landscapes provide. International Paper (IP) and the National Fish and Wildlife Foundation (NFWF) are highlighting how their Forestland Stewards partnership and grants awarded through the Longleaf Landscape Stewardship Fund (LLSF) are supporting local partnerships to restore and revitalize longleaf pine ecosystems on and around national forests across the Southeast United States.

There are 17 national forests located within the historical longleaf pine range, which spans from southeast Virginia to east Texas. Many of these national forests are strongholds of longleaf pine forests and serve as important hubs around which partners are working to expand longleaf pine habitat. Coordinated partnerships involving federal agencies, private organizations, and nonprofits allow IP and NFWF to amplify conservation outcomes beyond what individual entities could achieve alone. 

Through an LLSF grant to The Nature Conservancy (TNC), NFWF and IP support prescribed burning capacity to assist the Chattahoochee National Forest. This partnership and additional capacity are a force multiplier, helping the national forest complete more burns than they would be able to accomplish alone in longleaf stands to improve wildlife habitat and reduce the risk of catastrophic wildfires. 

This unique area of montane longleaf lies along the southern edge of the Southern Appalachian Mountains and represents some of the northernmost and highest-elevation occurrences of longleaf pine. It’s also located only two hours from Atlanta and faces increasing development pressures as downtown continues to expand. 

The grant funding that NFWF and IP are providing helps expand the amount of prescribed burning on the Chattahoochee and provides flexibility for TNC to work on adjacent or nearby properties, creating a more connected and healthy longleaf forest ecosystem, which benefits wildlife.

“We recognize the strength in partnerships like those with NFWF and other dedicated partners, and how collaboration can make a substantial impact,” said Sophie Beckham, Chief Sustainability Officer at International Paper. “Together, we’re effectively restoring longleaf pine ecosystems, supporting wildlife populations, and promoting healthier, more resilient forests for generations to come.” 

NFWF and IP have also provided funding through a grant to The Longleaf Alliance, which supports longleaf pine restoration and management within the Conecuh National Forest and surrounding partner lands in southern Alabama and northwest Florida. This funding will help expand prescribed burning and support recovery and management of at-risk species such as the red-cockaded woodpecker and gopher tortoise. 

With funding provided through a recent LLSF grant, The Longleaf Alliance is aiding the national forest with at least 20,000 acres of prescribed burning and the installation of artificial nest cavities for red-cockaded woodpeckers. These cavities are crucial to supporting the nesting requirements of this longleaf-dependent species, highlighting the importance of these combined efforts that benefit both wildlife and forest health. 

National Forest Week is a time to reflect on some of the incredible work done by uniting resources, but the dedication goes far beyond these seven days. NFWF and IP continue their efforts to enhance forests and make a lasting impact.

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About International Paper 
International Paper (NYSE: IP; LSE: IPC) is the global leader in sustainable packaging solutions. With company headquarters in Memphis, Tennessee, USA, and EMEA (Europe, Middle East and Africa) headquarters in London, UK, we employ more than 65,000 team members and serve customers around the world with operations in more than 30 countries. Together with our customers, we make the world safer and more productive, one sustainable packaging solution at a time. Net sales for 2024 were $18.6 billion. In 2025, International Paper acquired DS Smith creating an industry leader focused on the attractive and growing North American and EMEA regions. Additional information can be found by visiting internationalpaper.com 

About the National Fish and Wildlife Foundation 

The National Fish and Wildlife Foundation (NFWF) works with partners to foster sustainable and impactful conservation solutions so that people and nature thrive together. Chartered by Congress in 1984, NFWF has grown to become the nation’s largest conservation foundation.  Since its founding, NFWF has supported more than 7,000 grantee organizations and funded over 23,300 projects that have generated a total conservation impact of $11.3 billion. Learn more at nfwf.org. 

CLEVELAND, June 9, 2025 /3BL/ – KeyBank Community Development Lending and Investment (CDLI) provided a $58 million construction loan to finance the new construction of an affordable multifamily housing property in Palmdale, California, within Los Angeles County.

Maison’s Village II will include 66 single family lots totaling 191 units. There will be 64 one-bedroom units, 46 two-bedroom units, 57 three-bedroom units, and 22 four-bedroom units available to families earning at or below 30%, 50%, 60%, and 70% of area median income (AMI). Each site will include a garage, with additional on-street parking, and amenities such as a pool, recreation building, and an on-site management office. The project is nearly identical to Maison’s Village I, an adjacent housing development, which KeyBank provided construction financing for in 2022.

The sponsor and developer, Ravello Holdings, is a Southern California based real estate development firm with decades of experience in affordable multifamily projects. Maison’s Village II received additional funding in the form of a $30 million permanent loan and $1.6 million soft financing from the California Housing Finance Agency (CalHFA) and $36.8 million in low-income housing tax credit equity (LIHTC) from WNC & Associates.

Matthew Haas of KeyBank CDLI structured the financing.

About KeyBank Community Development Lending and Investment 
KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank’s platform brings together construction, acquisition, bridge-to-re-syndication, and preservation loans, as well as lines of credit, Agency and HUD permanent mortgage executions, and equity investments for low-income housing projects, especially Low-Income Housing Tax Credit (LIHTC) financing. KeyBank has earned 11 consecutive “Outstanding” ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency, making it the first U.S. national bank among the 25 largest to do so since the Act’s passage in 1977.

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.

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CONTACT :
Laura Mimura
216-471-2883
Laura_J_Mimura@KeyBank.com

KEY MEDIA NEWSROOM: 
Key.com/newsroom

How can today’s service members and their families stay mission-ready in the face of evolving demands? This episode of the Fed2Fed podcast by GOVTECH CONNECTS explores how advanced technology, integrated health expertise, and performance-focused strategies are transforming readiness and well-being across every stage of the mission lifecycle.

Leidos leaders Liz Porter, Health & Civil Sector President; Dr. Keita Franklin, Chief Behavioral Health Officer; and Thad Allen, Senior Advisor, share how smarter support systems—powered by real-time data, holistic health models, and innovation—are driving measurable impact for military communities.

Listen now to learn how new approaches to care and performance are helping service members and their families build resilience, sustain readiness, and thrive during and after service.

Listen here.

Originally published on GoDaddy Resource Library

Tell us a little bit about yourself and your career journey here at GoDaddy.

Hey! I’m Gonzalo Romero, and I’ve been leading digital security operations at GoDaddy Registry for the past five years. Alongside an incredible team, I help oversee a major contract between GoDaddy and the Colombian government to manage the country’s ccTLD (“.CO”).

My role is all about ensuring compliance and keeping things secure; I handle the technical and human resources needed to meet every contractual requirement tied to risk and abuse management for the ccTLD. This includes key tech, operational and infosec aspects like contingency planning, business continuity, disaster recovery, incident response, as well as IT/cybersecurity audits.

It’s a dynamic space, and working with such a talented team makes every challenge worth tackling. Keeping the “.CO” internet namespace safe and resilient is the goal, and we’re always looking for ways to strengthen security and innovate.

Can you describe a project or initiative that you are particularly proud of?

Throughout my experience as the Risk and Security Manager for Colombia’s ccTLD (“.CO”), my biggest challenge has been protecting its image and reputation through a zero-tolerance approach to abuse (DNS, content, CSAM) and malicious domain usage. It’s a challenging task that requires constant monitoring, quick action, and strategic enforcement.

Despite the challenges and complexities, I’ve always had strong corporate backing, with full support in terms of people resources and expertise. This commitment makes a significant difference, allowing us to remain focused, proactive, and uphold the integrity of “.CO” as a trusted digital space.

How do you stay updated on the latest security threats and trends?

Digital security is paramount here at GoDaddy. Our Chief Information Security Officer is an exemplary leader, highly skilled in cybersecurity, and continuously motivates us to keep learning, stay ahead of industry trends, and refine our best practices in security and privacy management.

GoDaddy provides a robust set of online learning tools, news, key websites, and resources that allow us as IT and Infosec Engineers to stay informed and up to date. This continuous access to training ensures that we’re always equipped with the latest knowledge to tackle emerging challenges and strengthen security across the organization. Furthermore, sites like Krebs on Security, Security Week, CSO Online, Dark Reading and The Hacker News are very useful as they offer several news and updated information on the digital security field.

Are there any resources that you would recommend to others interested in personal development?

A few of my highly recommended books are: Atomic Habits, The 7 Habits of Highly Effective People and Mindset. Mindshift (from Coursera), Personal Development (from Skillshare) and LinkedIn Learning are extraordinary e-Learning platforms. Ted Talks and the Global Leadership Network are communities I personally follow closely for motivating, inspiring, mentorship and leadership related matters.

What aspects of GoDaddy’s company culture do you appreciate the most?

One of the best things about GoDaddy’s enterprise culture is the “all for one, and one for all” mentality.

There’s a strong sense of teamwork here—people openly and genuinely support each other, share knowledge, and celebrate each other’s successes. 

Our corporate’s Everyday Champions program is a great example of this culture in action. It’s not just about recognition; it’s about fostering growth, encouraging collaboration, and making sure everyone feels valued. When one person excels, the whole team benefits, creating an environment where people are motivated to contribute and push each other to new heights.

Beyond that, GoDaddy places a strong emphasis on investing in its employees as a central aspect of its corporate culture. Through leadership development programs, open feedback channels, and mentorship opportunities, the organization ensures its staff have the resources necessary for success. Growth isn’t merely encouraged—it’s an integral part of the company’s DNA.

At the end of the day, it’s all about inclusion, learning, and collective success; our enterprise culture isn’t just something people talk about—it’s something each of us feel every day: “when you win, we all are winning.”

What activities do you do in your free time?

My favorite pastime is spending quality time with my family, whether we’re cooking together at home or dining out at restaurants that serve delicious and healthy food. Along with my wife and three children, I’m passionate about reading and sports. I frequently swim and play squash, and enjoy walking, participating in 5K and 10K races, and scuba diving with my family. I visit the gym once a week for stretching, activation, and strengthening exercises, and I make a point to meditate daily, as well as practice yoga and pilates.

In the evenings, we often gather to watch series and movies, as well as soccer, tennis, motorsport, and basketball games. My wife is an NBA fan, and I love watching games with her.

In recent months, I’ve been dedicating more free time to researching and finding relevant and innovative AI books, platforms and resources to share with my children. I am convinced of the relevance of digital transformation and the beneficial, rational and appropriate usage of technology in the development and evolution of us as leading, thinking and responsible human beings for our future. Furthermore, driven by my deep love for the ocean and a desire to care for what gives us so much, I recently became a certified RAID diving instructor. It’s a very personal achievement — one that speaks to who I am and also connects deeply with the values we live every day at GoDaddy: passion, purpose, and the constant drive to grow and make a difference.

What’s your motto or personal mantra?

“Generosity is the mother of abundance.” Giving—whether love, time, knowledge, or support—creates a ripple effect that leads to fulfillment and shared human success. The more we contribute, the more we build a world of love, empathy, awareness and opportunities.

Are you enjoying this series and want to know more about life at GoDaddy? Check out our GoDaddy Life social pages! Follow us to meet our team, learn more about our culture (Teams, ERGs, Locations), careers, and so much more. You’re more than just your day job, so come propel your career with us.

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• Career Page

The world is changing and so are the markets. US SIF (Sustainable Investment Forum) is exploring new initiatives that will strategically position members with better risk-based analytics to navigate the increasing volatility and offer innovative collaborations with the diverse perspectives, creativity and investment acumen needed to identify new risks and opportunities within the finance markets in this rapidly changing world.

The first US SIF Collaboration for Innovation will be launched during its Annual Forum in Washington, DC on June 25-27. Led by US SIF Board Member and Founder of First Peoples Worldwide, Rebecca Adamson, the collaboration will establish an investors and Indigenous Peoples’ hub that combines investment acumen and academic rigor with a global Indigenous network for innovating Sustainable Indigenous Finance. The purpose of the Sustainable Indigenous Finance Collaboration is to provide practical analytics and evidence-based research (including quantitative and empirical evidence on Indigenous risks) and establish a safe creative space to translate Indigenous priorities (such as land rights, culture shelf determination, and FPIC), specifically through the lens of financial materiality.

Financial Materiality and Indigenous Peoples – A new report by US SIF, First Peoples, and ImpactARC, Sustainable Indigenous Finance: Investors and Indigenous Peoples, found that investors often overlook the potential adverse impacts on Indigenous peoples that can then result in significant business risks — from supply chain disruptions to land tenure disputes — and hence, affect financial performance.

Read more about all of this here – https://greenmoney.com/sustainable-indigenous-finance-collaboration-for-innovation-to-be-launched-at-the-us-sif-annual-forum-2

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The recent energy grid blackouts across Spain, Portugal and parts of France were one of world’s biggest ever power system collapses. Effective modelling of the energy grid would have helped avoid this outcome and is a cautionary tale for any operator who has not already built a digital twin of their grid operation.

Digital twins are virtual replicas of real-world assets that let operators simulate and analyze without risk. A digital twin for power grids is a digital representation of the power network model and real-time measurements that can simulate a variety of scenarios (Haag and Anderl 2018). Rebuilding an entire national grid isn’t practical or affordable but digitally mirroring it? That’s smart. In fact, grid simulation tools have been powering control rooms since the 1970s, now digital twins are taking that capability to the next level.

In the face of growing cybersecurity threats, the power to run fully automated simulations using real-time data and live network topology is a critical defense. Digital twins enable operators to pinpoint system vulnerabilities, test new technologies safely, and assess how cyberattacks or extreme events could impact operations before they strike. With automated, parallel simulations, these virtual replicas can help you stay one step ahead of evolving threats.

In this post, we explore how EXata, Keysight Technologies’ advanced communication emulation platform, helps grid operators assess, harden, and protect critical energy infrastructure.

Example of a power grid digital twin

To see firsthand how a digital twin can be used to understand, and prepare for real-world attacks, we have demonstrated how a real cyber-attack on the Ukraine power grid can be modeled and analyzed using EXata. This was a very sophisticated attack, planned and executed over several months prior to the actual power outage. The attackers probed the system for weaknesses and exploited them to gradually infiltrate the network. They first gained access to the corporate IT network, using emails with infected attachments as the initial entry point. Once they infiltrated the corporate network, the attackers snooped around until they were able to steal credentials that gave them access to the SCADA network and, subsequently, the relays at the substations.

This combination of deploying different types of cyber-attacks, gradually infiltrating the system through successive layers of security by probing and adapting the attacks, and exploiting human behavior represents real-world cyber-attacks against different types of organizations and can be modeled within EXata.

The attack model can be easily modified to create what-if scenarios, for example by changing the firewall rules or changing the network topology and access control rules to better isolate critical segments of the network.

These scenarios can be simulated and the effects of changes evaluated by visualization, analyzing statistics, and observing the effects on connected systems. Therefore, effectiveness of different mitigation strategies can be studied. The visualization capabilities offer a convenient training platform where operators can interact with the simulation model, launch attacks, and modify firewall rules, then observe their effects on the system’s behavior in real time. Thus, operators can be trained to recognize breaches and learn how to counter them in a timely manner.

Benefits of digital twins in the energy grid

According to the US Department of Energy “Digital twins, or detailed software models of physical systems, will play a key role in this modernization, enabling utilities to understand weaknesses, detect problems quickly, and address them effectively without risking the operational grid. As a result, this investment will help:

• Keep Your Lights On: Improved grid security and reliability means fewer blackouts and outages for consumers.
• Keep You Safe: Fewer power disruptions that affect critical services like hospitals, emergency response systems, and public transportation translate to beneficial impacts to public health and safety.
• Keep Power Affordable: When utilities spend less time and money responding to grid disruptions, customers will benefit from efficiency of operations.”

Extensive work by the National Renewable Energy Laboratory in the US has demonstrated the benefits of Digital Twin + AI to create the Control Room of the Future. In Europe the eFORT project is developing the digital twin as one of its main solutions with the expectation of revolutionizing grid security by enhancing cyber security. It aims to secure the interconnected power grids in Europe and make them resilient to cyber-attacks, maintenance faults, terrorism, natural hazards, or similar related events (at infrastructure, hardware, software, and organizational levels).

In our last blog, Establishing strong roots of grid security, we spoke about the increase of cyberattacks on the energy grid by cyber criminals and hostile states. State-linked cyber groups increasingly target industrial control systems pivotal to energy infrastructure.

In response to growing threats, regulatory bodies and standards organizations have issued new frameworks such as IEEE 2030.5, IEC 62351, and NERC CIP. These standards help, but compliance alone is not enough. Utilities need tools to test, simulate, and validate their systems against evolving attack scenarios.

Keysight digital twin for the grid

Keysight EXata is used in the defense and critical national infrastructure sectors because it allows the user to create a network digital twin for real-time simulation and emulation that replicates the behavior of a network. The emulator provides an exact, high-quality model, indistinguishable from the real system, to digitally represent the entire network, the various protocol layers, antennas, and devices. The system can interoperate, at one or more protocol layers, with real radios and devices to provide hardware-in-the-loop capabilities. It can also be connected to systems with real applications.

EXata for Cyber-Physical (EXata CPS) modelling is integrated with OPAL-RT’s HYPERSIM or RT-LABS simulator on the same hardware to offer a complete real-time solution for the development, testing, and assessment of electrical grids with communication networks.

Proactive cyber security using a digital twin

Grid operators use EXata CPS to simulate, visualize, and strengthen their cybersecurity posture. Integrated with OPAL-RT’s power system simulators, it replicates both the power and communication layers of the grid in real-time.

Key capabilities include:

• High-Fidelity Network Emulation: Model real-world ICS/SCADA communication protocols, delays, bandwidth, and jitter.
• Scenario Testing and Red-Teaming: Simulate attacks such as man-in-the-middle, DDoS, or spoofed control signals across live grid environments.
• Live-Virtual-Constructive (LVC) Training: Train operators and security teams using real-time simulations of high-impact events.
• Graphical Visualization: Real-time dashboards of traffic flows, device states, intrusion attempts, and cascading effects.

These features allow grid operators to conduct “what-if” simulations that expose hidden vulnerabilities and guide investment in preventive controls. The key takeaway from energy grid cyber-attacks like the ones we have seen in Ukraine or the active Chinese intrusion in the US grid is that static defenses are no longer enough. Cyberattacks on grid systems are not hypothetical, and absolute prevention is unrealistic. Keysight EXata can help grid operators;

• Anticipate: Assume the grid will be targeted.
• Detect: Identify anomalies before damage occurs.
• Respond: Practice recovery in realistic simulations to minimize downtime and disruption.

With a long history in the energy sector, Keysight is dedicated to safeguarding critical national energy systems. You can read more about how we keep energy grids safe on our Grid Modernization page.

Keysight is your partner for energy cyber security.

Written by Sascha Segan

Qualcomm has pioneered many different breakthroughs over the last four decades, but our mission remains the same: Bringing those innovations to as many people as possible.

From our original foundational work on cellular capabilities with CDMA technology to how we’re positioning your favorite products to take advantage of the AI revolution, Qualcomm has — and continues to have — a major impact on your life.

Our drive to continuously innovate is marked by several critical missions we have embarked on over the last 40 years. A throughline of all those missions was to tap into technology to change the world.

And we’ve changed the world. A lot.

As we celebrate our 40^th anniversary, here are the five big missions we took on and the revolutions they sparked.

First mission: Mobility for all

Qualcomm’s first ambition was to ensure everybody had a cellphone, which in 1985 was an alien concept.

That solution came in the form of CDMA, short for Code Division Multiple Access, a radio technology that allowed more simultaneous calls on the network. This opened the door to everyone potentially getting a phone.

CDMA was a foundational building block for 3G wireless service and has been one of the core concepts in mobile networking ever since, from 4G to our current 5G and the next iteration of cellular technology, 6G.

“We saw early on that we had the ability to create technology, a technology called CDMA, that could make sure that everybody could have a phone with incredible quality and scale… that is how the company started, you know, the name of the company — Qualcomm — is quality communications. That’s our very first mission,” said Qualcomm President and CEO Cristiano Amon during his recent keynote appearance at SXSW, where he took a lap on the history and missions the company has executed in the last 40 years.

Second mission: More than phone calls

Modern smartphones are versatile, like Swiss Army Knives, capable of handling everything from shooting Hollywood-caliber films to paying for goods like a credit card or playing immersive mobile games. 

But there was a time when your cellphone was just good for one thing: Making actual phone calls. 

Qualcomm saw the potential for more, starting with the PDQ-800, the first “smartphone” that combined a cellphone with the open, application-friendly OS used by Palm Pilots. 

We continued to push this vision of integrating various consumer devices. The days of carrying a dedicated digital camera for photos and an MP3 player or Walkman for music were becoming numbered. The vision culminated with the introduction of Snapdragon in 2007, which enabled the integration of many more capabilities through apps and services.   

“We take for granted that they’re part of the phone now,” Amon said. 

Third mission: Making your phone a computer

Qualcomm next tackled the challenge of creating a processor that was both fast and small enough to turn a cellphone into a true powerhouse, a smartphone. 

The result was the first CPU with processor speeds of 1 gigahertz — another breakthrough from Qualcomm. The Scorpion CPU debuted in 2006 and would later power our line of Snapdragon processors, which debuted a year later.

In that same year in 2006, Qualcomm also published patents based on the concept of an app store running on our BREW operating system, an example of how we were already looking forward, anticipating where smartphones would eventually go. 

“We’re so proud of having created some of the technologies and having partnered with so many companies to bring the smartphone revolution to life,” Amon said.  

One of the key factors that made smartphones so versatile and indispensable was the Snapdragon processor. Over time, it has become even more powerful and energy-efficient, culminating in our latest flagship, the Snapdragon 8 Elite, which is found in many of the world’s top-tier smartphones.

Fourth mission: Expanding beyond phones 

It wasn’t enough for Snapdragon to be the brains behind just smartphones. We challenged ourselves to bring its power to a broader range of devices. 

“Can we get this incredible technology that got developed for mobile and can we take this to every other device?” Amon said. 

From laptops to cars, Snapdragon attributes — such as built-in connectivity, powerful processor or an energy-efficient architecture — could enhance a variety of devices. You can see this in action with the new line of Windows Copilot+ PCs utilizing the Snapdragon X Elite platform, or the Snapdragon Cockpit Elite and Snapdragon Ride Elite heading into future premium cars. 

This mission to expand our technology to more devices is ongoing, and we are committed to continuing this journey. 

Fifth mission: The AI-UI revolution

Our latest mission is to transform how we interact with our devices. The artificial intelligence revolution is here, and we believe generative AI will become the new user interface. This evolution began with the keyboard, progressed to the mouse, and then to touchscreens, with multimodal inputs now allowing you to speak or show objects to your AI digital assistant.

We are driving this transition with powerful processors that enable devices to leverage large language models (LLMs) directly on the device or tap into the cloud for more advanced inferences, maximizing the capabilities of AI assistants to respond to your queries.

“It’s the next big change on the horizon, and we’re only at the beginning of this transformation,” Amon said.

Learn more about our company
 

^{Opinions expressed in the content posted here are the personal opinions of the original authors, and do not necessarily reflect those of Qualcomm Incorporated or its subsidiaries (“Qualcomm”). The content is provided for informational purposes only and is not meant to be an endorsement or representation by Qualcomm or any other party. This site may also provide links or references to non-Qualcomm sites and resources. Qualcomm makes no representations, warranties, or other commitments whatsoever about any non-Qualcomm sites or third-party resources that may be referenced, accessible from, or linked to this site.}

^{Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.}

Mastercard Economics Institute

Secondhand, pre-loved, pre-owned, upcycled – no matter the stitch or state, the circular fashion market is gaining popularity, according to the Mastercard Economics Institute. Shoppers are increasingly choosing circular items across price points, driven by savings and environmental benefits. Increasing its relevance, the market may be more immune to policy and global trade impacts since new product creation is not involved, a key element that could further fuel consumer appeal.

In addition to gaining market share, circular fashion has different seasonality trends than the broader retail space and is concentrated in cities. Using aggregated and anonymized Mastercard data, these spending trends and impacts are explored in more detail as a key part of the online apparel sector.

Read the full report from the Mastercard Economics Institute

Follow along Mastercard’s journey to connect and power an inclusive, digital economy that benefits everyone, everywhere.