Prudential Financial 2021 ESG Report details long-term commitment to realize future vision
June 23 2022 - 8:35AM
Business Wire
Prudential Financial, Inc. released its annual
environmental, social and governance report, which provides a
comprehensive overview of the company’s efforts to drive
sustainability and increased value to stakeholders.
Prudential Financial, Inc. (NYSE: PRU) today released its annual
environmental, social and governance (ESG) report, which provides a
comprehensive overview of the company’s efforts to drive
sustainability and increased value to the customers, shareholders,
employees and communities it serves.
The 2021 ESG Report underscores how
Prudential’s ongoing sustainability commitments enable the company
to fulfill its purpose of making lives better by solving the
financial challenges of our changing world and achieve its recently
rolled-out vision: to become a global leader in expanding access to
investing, insurance, and retirement security.
“In 2021, we reinforced our efforts to drive sustainability with
significant enhancements to our ESG practices,” said Charles
Lowrey, chairman and CEO of Prudential. “As a global insurer and
investment manager, we recognize the urgent need to play our part
in addressing issues facing society. Sustainability will remain
integral to our ability to fulfill our purpose, achieve our Vision
and Strategy, and deliver on our long-term promises to our
customers and other stakeholders.”
Highlights from the report include:
- New standards and commitments Prudential announced its
intention to achieve net zero emissions across primary domestic and
international home office operations by 2050, with an interim goal
to become carbon neutral by 2040. Additionally, the report features
the Chief Investment Office’s Responsible Investing Policy that
advances the General Account’s responsible investing strategy and
defines six core principles most important to Prudential. As part
of this updated policy, Prudential introduced restrictions on new
direct investments in companies that derive a material portion of
their revenues from thermal coal. PGIM appointed a global head of
ESG, responsible for shaping and coordinating the ESG strategy and
approach across its operations.
- Long-standing work to drive social progress The
Prudential Foundation surpassed a historic milestone of $1 billion
in total contributions since its inception in 1978, representing
the company’s long-standing work to drive social progress.
- Commitment to transparency and accountability Prudential
continued to disclose EEO-1 data on U.S. employee representation
and the results of a comprehensive analysis on pay equity conducted
across the U.S. workforce.
Prudential’s 2021 ESG Report incorporates stakeholder feedback
and reflects the company’s ongoing environmental, social and
governance initiatives.
The ESG Report was prepared in accordance with the Global
Reporting Initiative Standards Core option, in support of the Task
Force on Climate-related Financial Disclosures (TCFD) and in
accordance with the Sustainability Accounting Standards Board’s
provisional guidelines for insurance companies.
Visit prudentialesg.com to view Prudential’s 2021 ESG Report,
along with previous years’ sustainability reports.
About Prudential Financial
Prudential Financial, Inc. (NYSE: PRU), a global financial
services leader and premier active global investment manager with
more than $1.5 trillion in assets under management as of March 31,
2022, has operations in the United States, Asia, Europe, and Latin
America. Prudential’s diverse and talented employees help to make
lives better by creating financial opportunity for more people.
Prudential’s iconic Rock symbol has stood for strength, stability,
expertise, and innovation for more than a century. For more
information, please visit news.prudential.com.
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Katherine DeBerry, katherine.deberry@prudential.com,
973-568-4195
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