Principal® Earns 2024 ENERGY STAR® Partner of the Year Sustained Excellence Award for Seventh Consecutive Year

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Principal Asset Management has been awarded the 2024 ENERGY STAR Partner of the Year: Sustained Excellence Award for the seventh consecutive year. The firm's commitment to sustainability and responsible property investment is highlighted through its energy efficiency and greenhouse gas emissions reduction initiatives. Principal aims for a 40% reduction in GHG emissions by 2035. With 90% of properties actively benchmarking utility usage and an average ENERGY STAR score of 88 for certified properties, Principal continues to lead in sustainability efforts.

DES MOINES, Iowa--(BUSINESS WIRE)-- Principal Asset Management℠, through its dedicated real estate investment team, is proud to announce that it has received the 2024 ENERGY STAR Partner of the Year: Sustained Excellence Award from the U.S. Environmental Protection Agency for the seventh consecutive year.

“The long-standing recognition Principal^® receives as an ENERGY STAR award winner underscores our commitment to corporate stewardship, sustainability, and responsible property investment," said Jennifer McConkey, managing director of sustainability and operations, real estate, Principal Asset Management. “We strive to deliver positive financial and sustainability outcomes for our clients and our strong performance over the past seven years is a testament to this work.”

Principal has been an ENERGY STAR partner since 2009 and has earned Partner of the Year status for nine years. Principal continues to integrate energy efficiency and greenhouse gas (GHG) emissions reductions into its Pillars of Responsible Investing, the overarching sustainability platform for the firm’s dedicated real estate investment team. Principal Real Estate is continuing to implement best practices to reach a target of a 40% reduction in GHG emissions by the year 2035 (compared to a 2019 baseline). In 2023, Principal achieved:

• 90% of properties are actively benchmarking utility usage.
• ENERGY STAR certification at 69 properties – 31 of these were newly certified in the previous twelve months.
• An average ENERGY STAR score of 88 for certified properties, meaning these properties perform within the top 12% on average of peers across the country.

Each year, the ENERGY STAR program honors a select group of businesses and organizations that have made outstanding contributions to energy efficiency and the transition to a clean energy economy. ENERGY STAR award winners lead their industries in the production, sale, and adoption of energy-efficient products, homes, buildings, services, and strategies. These efforts have saved more than 5 trillion kilowatt-hours of electricity over the past 30 years.

Winners are selected from a network of thousands of ENERGY STAR partners. For a complete list of 2024 winners and more information about ENERGY STAR’s awards program, visit energystar.gov/awardwinners.

Learn more about the Principal commitment to responsible property investing.

About Principal Asset Management℠

With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.¹ Principal Asset Management is the global investment solutions business for Principal Financial Group^® (Nasdaq: PFG), managing $540 billion in assets¹ and recognized as a “Best Places to Work in Money Management”² for 12 consecutive years.

_{[1] As of December 31, 2023
[2] Pensions & Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 12, 2023}

About ENERGY STAR

ENERGY STAR^® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $500 billion in energy costs and achieve more than 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR’s impacts can be found at www.energystar.gov/impacts.

©2024 Principal Financial Services, Inc., Principal®, Principal Financial Group®, Principal Asset Management, and Principal and the logomark design are registered trademarks and service marks of Principal Financial Services, Inc., a Principal Financial Group company, in various countries around the world and may be used only with the permission of Principal Financial Services, Inc. Principal Asset Management℠ is a trade name of Principal Global Investors, LLC. Principal Real Estate is a trade name of Principal Real Estate Investors, LLC, an affiliate of Principal Global Investors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240327569755/en/

Ashley Miller, 515-878-6295, miller.ashley@principal.com

Source: Principal Financial Group

FAQ

What award did Principal Asset Management receive for the seventh consecutive year?

Principal Asset Management received the 2024 ENERGY STAR Partner of the Year: Sustained Excellence Award.

When did Principal become an ENERGY STAR partner?

Principal has been an ENERGY STAR partner since 2009.

What is Principal's target for GHG emissions reduction by 2035?

Principal aims for a 40% reduction in GHG emissions by the year 2035 compared to a 2019 baseline.

How many properties achieved ENERGY STAR certification in 2023?

In 2023, 69 properties achieved ENERGY STAR certification, with 31 of these being newly certified within the previous twelve months.

What is the average ENERGY STAR score for Principal's certified properties?

The average ENERGY STAR score for Principal's certified properties is 88, indicating that these properties perform within the top 12% on average of peers across the country.