Environmental Stewardship
Prudential businesses in the U.S. and abroad are focusing on a broad range of activities that contribute to the protection of the environment.
In its continued efforts to ensure the quality and accuracy of its GHG emissions data, Prudential once again engaged a third-party verifier (Lloyd’s Register Quality Assurance) to review and provide limited assurance of its 2020 Scope 1, Scope 2 and Scope 3 Business Travel GHG emissions.
Global Emissions Data
Environment Domestic Emissions Data
| Description |
2020 |
2019 |
2018 |
| Portfolio Square Footage |
8,319,649 |
8,302,095 |
8,302,095 |
GHG Emissions
Scope 1 (MT CO2e) |
12,953 |
17,247 |
9,077 |
GHG Emissions
Scope 2 (MT CO2e)* |
43,824 |
54,652 |
58,221 |
GHG Emissions
Scope 3 (MT CO2e) |
4,541 |
29,598 |
13,375 |
Energy Consumed
Stationary Combustion (MMBTU) |
159,531 |
154,228 |
181,666 |
Energy Consumed
Purchased Electricity (kWh) |
117,712,018 |
139,992,142 |
146,039,158 |
Notes
* Scope 2 location-based emissions are reported above for comparison with historical year.
Special Note for 2020:
With the onset of the COVID-19 pandemic and mandatory lockdowns from mid-March 2020, like other businesses globally, Prudential Financial’s staff worked remotely for most of the year (approximately 9 months). Energy use from remote working consequently shifted (i.e., decreasing) GHG emissions from Scopes 1 and 2 (within Prudential’s operationally controlled Home Office properties) into Scope 3 (individual homes of its employees which are not under Prudential’s control). While compared with previous years, there was a significant decrease in energy consumed and related Scope 1 and 2 emissions from Prudential’s operations globally, there was still the need to light and heat/cool office buildings for those required to be onsite.
Performance Highlights:
- 2016 was the first year that international sites were incorporated into Prudential’s GHG Inventory and was selected as the new base year.
- The company’s Scope 1 and 2 GHG emissions (i.e., energy used in buildings) decreased by 21%.
- In 2019, Scope 1 emissions from diesel used in emergency generators at US buildings, corporate aircrafts, leased vehicles for executive transport, employee shuttles and building refrigerants were quantified and added to the inventory.
- The company’s total GHG emissions Scope 1, 2 and 3 (Scope 3 includes emissions from business travel and from fuel- and energy-related activities not included in Scopes 1 and 2) decrease by 38%.
- Compared with 2019, the company decreased its Scope 3 emissions from business travel by 85%.
Domestic Emissions Data
| Normalization by Floor Area |
2020 |
2019 |
2018 |
| Scope 1-2 |
0.0068244 |
0.0086604 |
0.0081061 |
| Scope 1-3 |
0.0073703 |
0.0122255 |
0.0097172 |
| FERA – Scope 3 (MT CO2e) |
12,948 |
18,723 |
18,628 |
| Business Travel + FERA (MT CO2e) |
17,489 |
48,321 |
32,003 |
Notes:
Changes in square footage among 2020 and historical years may be attributed to the following: integrating select international locations (home offices and data centers) that are owned or operationally controlled; the dynamic nature of office space used among the POJ, PGFL and GIB businesses in Japan; and following year-on year changes between 2019 and 2020:
- 10% increase in Japan’s office building floor space with addition of Sanno Park Tower and expansion of PGFL in the Eight One Building
- 30% increase in floor space with the expansion of Prudential do Brasil Vida em Grupo’s offices in São Paulo