Environmental Reporting |
- Increase robust reporting in annual sustainability report
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- Prudential’s 2021 ESG Report includes comprehensive information on both the impact of our operations on
the environment and the action we are taking to reduce the impact we have.
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- Achieve and maintain
Management-Level CDP scores
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- Received A- CDP Climate Rating in 2020 and B in 2021. Prudential will participate in the 2022 CDP climate
questionnaire.
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- Publish specific asset level
reporting
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- Approximately $375B of the General Account’s assets have an ESG identifier.
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- Publish information and progress
on General Account investment
allocations
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- The 2021 ESG Report describes the General Account’s total sustainable investments and each category.
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Responsible Use of Natural Resources |
- Prudential commits to achieve
net zero emissions across its
primary home office operations by
2050 and set an interim goal to
become carbon neutral by 20401
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- 84% progress towards 2030 interim goal and 48% progress
towards 2040 interim goal. See Prudential’s 2021 ESG Report for
more detail.
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- Achieve 65% waste diversion
by 2025
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- Achieved goal in 2021 with 72% waste reduction in reporting
countries. 2
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- Continue internal initiatives to reduce paper use
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- Continued partnership with American Forest partnership to support our Zero Paper aspiration.
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- Develop both internal and public facing ESG Policy
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- The Chief Investment Office updated its Responsible Investing Policy in November 2021.
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- Invest in companies and projects that responsibly reduce emissions, water consumption and/or waste generation
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- The General Account’s sustainable investment allocation is described in the 2021 ESG Report.
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- Allocate 10% of Impact Investments portfolio to companies and projects that promote sustainability and resiliency by 2025
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- As of 12/31/2021, Impact Investments has 4% of its fair market value of investments in companies and projects promoting sustainability and resiliency.
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- Grant $25 million by 2025 to support response to climaterelated natural disasters via Prudential Foundation
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- Prudential Foundation provided $12.7 million (as of 12/31/2021) in grants and investments to support climate-related natural disasters.
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Resiliency Preparation |
- Continue strengthening our business continuation activities
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- Identified flood risk for the Newark, New Jersey properties.
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- Invest in long termism and businesses and projects that support resiliency
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- Hired engineering firms to develop decarbonization capital plan for two Newark, New Jersey-based Prudential office properties.
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Engagement & Education |
- Create robust employee engagement opportunities to creatively and consistently communicate the importance of environmental sustainability
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- Green Teams hosted a virtual Earth Day and beach cleanup in Monmouth, New Jersey.
- Removed vending machines to reduce plastic bottle use in all Newark, New Jersey properties.
- Implementing responsible cafeteria waste reduction activities in two Newark, New Jersey owned properties.
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- Commit to engaging 100% of our top vendors to support progress toward the Global Environmental Commitment Invite 100% of our top vendors to report on climate change KPIs by 2022
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- Engaged 100% of top vendors to complete the CDP Supply Chain survey resulting in 69% participation.
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- Expand our public policy engagement to support topics aligned with the Global Environmental Commitment
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- PGIM’s paper, Weathering
Climate Change, proposes a climate
change agenda for institutional investors that encompasses both
hidden portfolio vulnerabilities and potential opportunities in the
transition to a lower carbon world.
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- Become a go-to provider for thought leadership on sustainable investing strategies
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- PGIM Quantitative Solutions, PGIM Fixed Income, Jennison Associates and PGIM Real Estate (PGIM asset managers) are Principles for Responsible Investment (PRI) signatories.
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- Invest or grant dollars to
companies and organizations
that change public perception
toward a more environmentally
responsible society
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- PGIM Real Estate financed more than $9.5 billion in loans secured
by properties with green certifications, including ENERGY STAR
labels. More than 60% of our affiliated investors’ office portfolio is
green certified (as of 12/31/2021) demonstrating a commitment to
sustainable loan production.
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