Nuveen -Wed, 04/29/2026 - 12:32

Decoding Data Centers: Sustainability Due Diligence Across the Value Chain

Artificial intelligence is one of the most consequential investment themes of our era and data centers are its physical backbone. Behind the promise of AI lies a rapidly expanding environmental footprint including soaring energy demand, significant water consumption, and real impacts on the communities where these facilities are built and operated.

To help investors make sense of it all, Nuveen and the Environmental Defense Fund (EDF) have joined forces to produce 'Decoding data centers: Sustainability due diligence across the value chain', a comprehensive, science-grounded guide designed to help investors ask smarter questions, manage material risks, and elevate expectations across the AI ecosystem.

What’s in the report

75+ investor engagement questions for tech companies, utilities, chip manufacturers and more
Emerging approaches for managing data center energy, water and local impacts
An overview of existing metrics & disclosures
Asset class-specific considerations for engagement

About the collaboration

Environmental Defense Fund is one of the world's leading environmental organizations, bringing science-based insight to some of the most complex environmental challenges facing investors, businesses, and communities today.

Together, Nuveen and EDF offer a distinct perspective that combines investment expertise with environmental science to help the investor ecosystem navigate the data center boom with eyes wide open.

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Contacts

Nuveen

Nuveen is the asset manager for TIAA, one of the world’s most highly rated and financially stable insurance companies¹. We leverage our deep expertise in partnering with insurance clients to tailor capital-efficient solutions to meet complex portfolio construction needs. Our platform of $1.4 trillion in AUM² offers differentiated investments across private credit and private equity, real assets, fixed income, and responsible investing focused strategies. For more information, please visit www.nuveen.com/insurance.

1. For its stability, claims-paying ability and overall financial strength, Teachers Insurance and Annuity Association of America (TIAA) is one of only three insurers in the United States to currently hold the highest rating available to U.S. insurers from three of the four leading insurance company rating agencies: A.M. Best (A++ as of July 2025), Fitch (AAA as of August 2025), Standard & Poor’s (AA+ as of November 2025), and the second highest possible rating from Moody’s Investors Service (Aa1 rating affirmed as of February 12, 2026). There is no guarantee that current ratings will be maintained. The financial strength ratings represent a company’s ability to meet policyholders’ obligations and do not apply to variable annuities or any other product or service not fully backed by TIAA’s claims-paying ability. The ratings also do not apply to the safety or the performance of the variable accounts, which will fluctuate in value.

2. Assets under management as of 31 Dec 2025. Nuveen assets under management (AUM) is inclusive of underlying investment specialists. Totals may not equal 100 % due to rounding.

Joseph Pursley, CIMA
Head of Insurance, Americas
Joseph.Pursley@Nuveen.com
445-245-1063

Nuveen, a TIAA Company
333 W. Wacker Drive
Chicago, IL 60606

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