Energy Efficiency, GHG Emissions  -  June 23, 2022

Prudential Financial Sets 2050 Goal

Prudential Financial, Inc. 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. 

The insurance company introduced restrictions on new direct investments in companies that derive a material portion of their revenues from thermal coal and appointed a global head of ESG, responsible for shaping and coordinating the ESG strategy and approach across its operations.

Details were provided in Prudential’s 2021 ESG Report.

“In 2021, we reinforced our efforts to drive sustainability with significant enhancements to our ESG practices,” said Charles Lowrey, Chairman and CEO of Prudential, in a statement. “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.”

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.

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