Principal Real Estate Investors (PREI)—the real estate arm of Principal Financial Group, a $700B global asset manager—moves more capital annually than the entire mass timber industry. That’s the exciting part: there’s no shortage of capital. The challenge is aligning mass timber with how institutional investors actually operate.
In this rare and candid conversation, Madeline O’Donnell, Senior ESG Analyst at Principal Asset Management, joins Noel Johnson, developer and Day 2 curator, to explore how environmental, social, and governance (ESG) considerations shape real estate investing at the highest levels—and where mass timber fits into that framework.
They’ll unpack how mass timber’s ESG story intersects with institutional mandates, why the alignment is more complex than most think, and what the industry can do to support capital allocators like Madeline in bringing innovative materials into mainstream portfolios.
Madeline brings direct insight from one of the world’s most respected ESG programs. Noel brings over $1B in development experience and the developer’s clarity on how capital decisions are made. Together, they’ll surface what really drives investment decisions—and how the mass timber community can respond to unlock growth.
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Mass timber must deliver real value to scale. Learn how product/market fit and value propositions drive demand, capital, and successful adoption.

A candid look at mass timber’s path to scale—through the supply side lens of one of the industry’s most experienced executives.


Explore how reducing embodied carbon creates economic, competitive, and environmental advantages — and why mass timber is uniquely positioned to help you do it.

Learn how to source regional timber for mass timber projects, navigate the supply chain from forest to factory, and make design and spec decisions for successful sourcing.

Learn how to tackle mass timber’s insurance hurdles and leave with actionable risk management strategies to move your projects forward with confidence.

Learn seismic-tested design strategies and how to use real data to drive approvals, reduce risk, and make the mass timber case in high-seismic regions.

Learn how to create and sustain a thriving mass timber ecosystem—with region-specific strategies to overcome barriers, accelerate adoption, and unlock new opportunities.