Prudential Plans to Decarbonize Assets Portfolio
By Sabela Ojea
Prudential PLC said Friday that it plans to decarbonize its
portfolio of assets held on behalf of its insurance companies,
aiming for net-zero emissions by 2050.
The U.K. insurer said the actions to achieve its long-term
target include a 25% reduction in carbon emissions of all
shareholder and policyholder assets by 2025 and a divestment from
all direct investments in companies which derive more than 30% of
their income from coal.
Equities should be fully divested by the end of 2021 and
fixed-income assets by the end of 2022, it said.
Jackson Financial Inc. and all of the assets it holds are
excluded from this commitment, as well as unit-linked funds and
assets held by joint-venture businesses, it added.
Write to Sabela Ojea at firstname.lastname@example.org; @sabelaojeaguix
(END) Dow Jones Newswires
May 07, 2021 05:11 ET (09:11 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.