Prudential Financial issues 2022 Sustainability Report

Rhea-AI Summary

Prudential Financial, Inc. (NYSE: PRU) releases its annual sustainability report, highlighting efforts in employee well-being, societal engagement, product innovation, governance, cybersecurity, ethics, and climate risk and resilience. The report also showcases the company's achievements in expanding access to financial security, empowering talent, supporting communities, and sustainable investments.

Positive

• Prudential's commitment to sustainability and transparency is evident through its 11th consecutive annual sustainability report, demonstrating a long-term vision to be a global leader in expanding access to investing, insurance, and retirement security.
• The company's dedication to employee well-being, societal engagement, and ethical business practices, as well as its achievement in reaching its 2030 emissions reduction goal, reflect positively on its sustainability efforts and corporate responsibility.
• Prudential's focus on long-term performance through sustainable investments totaling $37.5 billion in its General Account is a strategic move that aligns with market trends and investor demand for sustainable financial products.

Negative

• None.

The report provides a comprehensive look at the company’s sustainability efforts and represents a key component in its robust sustainability disclosures.

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Financial, Inc. (NYSE: PRU) has released its annual sustainability report, providing a comprehensive overview of the company’s efforts to deliver sustainable value to the customers, clients, shareholders, employees and communities it serves.

The report, which is the 11th consecutive report of its kind by Prudential, is a key component of the company’s robust sustainability disclosure efforts, providing ongoing transparency and accountability on how Prudential manages its businesses.

“In 2022, we articulated a new long-term vision — to be a global leader in expanding access to investing, insurance, and retirement security,” said Charles Lowrey, chairman and CEO of Prudential. “As we advance our strategy to achieve that vision, sustainability remains an integral part of our efforts.”

Prudential’s ongoing work on topics like employee well-being, societal engagement, product innovation, governance, cybersecurity, ethics, and climate risk and resilience are detailed in the report. For example, the report highlights how Prudential has:

• Expanded access to financial security by providing more than 1,000 institutional clients access to Prudential’s financial wellness offerings, with more than 45,000 individuals attending one of the company’s financial education seminars in 2022.
• Empowered world-class talent through the launch of Workday Learning, now being used in 20 countries, with over 11,000 employees completing 39,594 training courses within the first four months after its launch.
• Showed up for communities by disbursing $45 million with 47% to organizations located in or serving Newark, New Jersey, through grants by The Prudential Foundation.
• Continued to do business the right way, resulting in being recognized as one of the World’s Most Ethical Companies^® in 2022 by Ethisphere^® for the eighth consecutive year.
• Focused on long-term performance, with $37.5 billion of sustainable investments held by the company’s General Account that promote sustainability and achieve market returns to support policyholder obligations.
• Reached its 2030 emissions reduction goal by achieving a 55.5% decrease in Scope 1 & 2 emissions since its 2017 baseline year for the facilities in its net zero target.

The report, which includes the latest greenhouse gas emissions metrics, complements Prudential’s standalone 2022 Task Force on Climate-related Financial Disclosures (TCFD) report. Visit prudentialesg.com to view Prudential’s 2022 Sustainability Report and other sustainability disclosures.

ABOUT PRUDENTIAL

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with more than $1.4 trillion in assets under management as of March 31, 2023, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better by creating financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for nearly 150 years. For more information, please visit news.prudential.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230719631929/en/

Sarah Tyre, sarah.tyre@prudential.com, 973-803-2092

Source: Prudential Financial, Inc.

FAQ

What is Prudential Financial, Inc.'s ticker symbol?

The ticker symbol for Prudential Financial, Inc. is PRU.

What does Prudential's annual sustainability report highlight?

The report showcases the company's efforts in employee well-being, societal engagement, product innovation, governance, cybersecurity, ethics, and climate risk and resilience, as well as its achievements in expanding access to financial security, empowering talent, supporting communities, and sustainable investments.

Where can I view Prudential's 2022 Sustainability Report?

You can view Prudential's 2022 Sustainability Report and other sustainability disclosures at prudentialesg.com.