Prudential Financial strengthens commitment to environment with new sustainability goals
December 04 2019 - 4:30PM
Business Wire
Prudential Financial, Inc.’s (NYSE: PRU) new Global
Environmental Commitment (GEC) expands the company’s support for
sustainable investments through a wide range of business,
operational and investment goals. These new targets to reduce the
company’s impact on the environment include:
- Reduce domestic emissions by 65% by 2050.
- Improve recycling and composting measures to achieve a 65%
waste diversion rate by 2025.
- Allocate 10% of Prudential’s impact investing portfolio to
sustainable investments by 2025.
- Grant $25 million to support response to climate-related
natural disasters through The Prudential Foundation by 2025.
- Commit all of Prudential’s top vendors to support the GEC and
invite them to report on climate change KPIs by 2022.
“Our commitment to shareholders, customers and employees goes
hand in hand with our responsibility to the environment and
ensuring it is protected for future generations,” said Margaret
“Peggy” Foran, chief governance officer and corporate secretary at
Prudential. “We are proud of the steps we are taking to deliver
sustainable business and environmental outcomes.”
The full set of goals include operational targets to reduce the
direct impact of Prudential’s business activities around the world,
as well as investment targets which will enable Prudential to
achieve sustainable and environmentally responsible returns for
investors.
These global objectives were created following an extensive
review of the current sustainability landscape and industry best
practices, which include the activities of other leading financial
services peers. Prudential also led research to ensure that
Prudential’s new goals are aligned with the Science Based Targets
initiative.
Each of Prudential’s businesses will be responsible for
implementing the environmental commitment, with the support of the
company’s Environmental Task Force, Sustainability Council, and
vice chairman Rob Falzon.
The Corporate Governance and Business Ethics Committee of
Prudential’s Board of Directors will review the environmental
commitment and progress made against goals on an annual basis.
Prudential first introduced an environmental commitment in 2008,
which outlined domestic goals.
The full 2019 Global Environmental Commitment can be found
here.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial wellness
leader and premier active global investment manager with more than
$1 trillion in assets under management as of Sept. 30, 2019, 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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version on businesswire.com: https://www.businesswire.com/news/home/20191204005726/en/
Laura Coletti 973-802-8988 laura.coletti@prudential.com
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