Newark, New Jersey-based Prudential Financial, Inc., a Fortune 500 and Fortune Global 500 company that offers global financial services and products, recently announced their updated environmental stewardship strategy that sets goals for their operational and investment strategies through 2050.
Prudential’s 2019 Global Environmental Commitment (GEC) addresses the deteriorating environment by requiring the company’s individual businesses to strengthen environmental reporting, use natural resources more efficiently, educate and engage employees, customers, and top vendors to support the program, and improve Prudential’s investment strategy to support opportunities that champion resiliency.
The company first announced an environmental strategy in 2008 and its new 2019 commitment calls for the following:
By 2022: All top vendors will commit to the Global Environmental Commitment.
By 2025: Meet a 65% waste diversion rate in Prudential’s operations; devote 10% of their impact investing portfolio to sustainable investments; through The Prudential Foundation, grant $25 million to alleviate the effects of climate-related natural disasters.
By 2050: Reduce Prudential’s domestic emissions by 65%.
Written by Nicole Foulke