Prudential Financial releases 2023 Sustainability Report

Rhea-AI Summary

Prudential Financial (NYSE: PRU) has published its 13th annual Sustainability Report, outlining key efforts to promote sustainability and long-term value for stakeholders. Prudential's initiatives include product innovation such as the Sona-Mira platform in Japan, which integrates life insurance, financial products, and health wellness services. Additionally, 91% of U.S. employees engage with the Workday Learning platform for skill development. The Prudential Foundation has disbursed $47.6 million in grants, benefiting over 354,000 individuals and 5,400 small businesses. The company also improved AI governance, holds $39.1 billion in sustainable investments, and has reduced emissions by 69% since 2017. Detailed disclosures are available on prudentialesg.com.

The report provides the latest information on 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) today published its 13th consecutive annual Sustainability Report, providing a comprehensive overview of the company’s efforts to deliver on its purpose and create sustainable value for the customers, clients, shareholders, employees and communities it serves.

“A sustainable approach to doing business and serving our customers is a critical component of how Prudential is transforming into a higher growth, more capital efficient and more nimble company that provides long-term value to all our stakeholders,” said Charles Lowrey, chairman and CEO of Prudential.

The report is a key component of the company’s sustainability reporting and provides ongoing transparency and accountability on Prudential’s management of the sustainability issues relevant to its businesses.

Topics like product innovation, societal engagement, talent management, governance, cybersecurity, ethics, and environmental stewardship are detailed in the report, including:

• Expanding access to financial security through the launch of Sona-Mira in Japan, a one-stop shop for life insurance, other financial products, and health wellness services that makes it easier for customers to access Prudential solutions, with an ecosystem of wellness and financial services provided by partner companies.
• Empowering world-class talent through the self-directed learning platform Workday Learning, with 91% of U.S.-based employees accessing the platform to nurture their skills and expand their business acumen.
• Disbursing $47.6 million to communities through grants by The Prudential Foundation, serving more than 354,000 individuals and 5,400 small businesses.
• Enhancing the company’s artificial intelligence governance and controls framework to ensure it continues to do business the right way.
• Focusing on long-term performance with $39.1 billion of sustainable investments held by the company’s General Account that promote sustainability and achieve market returns to support policyholder obligations.
• Reducing the company’s emissions by 69% since our 2017 baseline year for the facilities in its emissions reduction targets.

Find more information on these and other sustainability initiatives and disclosures, including the sustainability reports of other Prudential businesses, on prudentialesg.com.

ABOUT PRUDENTIAL

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of March 31, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create 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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Allison Ducote

allison.ducote@prudential.com

Source: Prudential Financial, Inc.

FAQ

What are the highlights of Prudential Financial's 2023 Sustainability Report?

Prudential Financial's 2023 Sustainability Report highlights include product innovation with the Sona-Mira platform in Japan, significant employee engagement through the Workday Learning platform, $47.6 million in community grants, enhanced AI governance, $39.1 billion in sustainable investments, and a 69% reduction in emissions since 2017.

How has Prudential Financial advanced its sustainability efforts in 2023?

In 2023, Prudential Financial advanced its sustainability efforts by launching the Sona-Mira platform in Japan, empowering employees with the Workday Learning platform, disbursing $47.6 million in community grants, enhancing AI governance, increasing sustainable investments to $39.1 billion, and reducing emissions by 69% since 2017.

What is the Sona-Mira platform mentioned in Prudential Financial's 2023 Sustainability Report?

The Sona-Mira platform is a new initiative in Japan by Prudential Financial, offering a one-stop shop for life insurance, financial products, and health wellness services, designed to make it easier for customers to access Prudential's solutions.

How much did The Prudential Foundation disburse in grants in 2023?

In 2023, The Prudential Foundation disbursed $47.6 million in grants, benefiting more than 354,000 individuals and 5,400 small businesses.

What are Prudential Financial's achievements in emissions reduction as stated in the 2023 Sustainability Report?

Prudential Financial has achieved a 69% reduction in emissions since its 2017 baseline year for the facilities included in its emissions reduction targets.