GHG Emissions  -  November 2, 2021

Prudential Financial Targets Carbon Neutral Offices and Data Centers by 2040

Prudential Financial announced Nov. 1 its commitment to achieving net-zero emissions in its domestic and international home office operations by 2050 and become carbon neutral by 2040.

The financial services company will reduce these Scope 1 and 2 emissions at its owned and leased office space, data centers and garages in the U.S., Japan and Brazil by consolidating its real estate footprint, investing in energy-efficient capital improvement for owned properties and purchasing renewable energy when available. The remaining carbon emissions will be offset through carbon removal strategies.

Prudential will then assess its Scope 3 emissions, and to start the process of reducing these emissions the company has decided to restrict direct investments in companies that derive 25% or more of their revenues from thermal coal.

“As a global insurer and investment manager, we understand the magnitude and urgency of climate change, and that we have a responsibility to minimize our impact,” Charles Lowrey, chairman and CEO of Prudential, said in a statement. “This net zero commitment is an important step toward a more sustainable future for our customers, employees, investors and communities.”

Most recently, Prudential issued an inaugural green bond and in May committed to reducing the operational emissions of its global investment management arm to net zero by 2050.

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