Prudential plc - Greenhouse Gas Emissions Statement

We have compiled our global GHG emissions in accordance with the Companies Act 2006 (Strategic and Directors’ Reports) Regulations 2013. GHG emissions are broken down into three scopes; we have included full reporting for Scope 1 and 2 and select Scope 3 reporting as best practice. Scope 1 emissions are our direct emissions from the combustion of fuel, fugitive emissions and company owned vehicles. Scope 2 emissions cover our indirect emissions from the purchase of electricity, heating and cooling. We have reported our Scope 2 emissions using both the location and market-based methods in line with the GHG Protocol Scope 2 Guidance. Our Scope 3 footprint includes UK booked business travel for the occupied estate, global water consumption from the occupied estate and waste generated from occupied properties (UK and US). We continue to work with our Business Units to review the extent of our Scope 3 reporting and increase coverage where practicable. Please refer to our Basis of Reporting and supplementary reporting online for further detail on our methodology, reported consumption and drivers of variation.

Group total (including continuing and discontinued operations) Emissions Source 2019 2018 % change
  Scope 1 9,353 9,192(1) 2%
  Scope 2 - location based 54,155 56,543(1) -4%
  Scope 2 - market-based 50,717 52,127 -3%
  Scope 3 17,747 22,545 -21%
  Total scope 1&2 60,070 61,319 -2%
  Total scope 1,2 &3 77,817 97,033 -19%
  Carbon Intensity      
  Kg/ m2- Scope 1 & 2 96 24 300%
  Tonnes per employee- scope 1 &2 2.5 3.1 -19%
  Kg per m2- Scope 1,2 & 3 124 32 288%
Continuing operations Emissions source 2019
Scope 1 7,312
  Scope 2- location based 48,908
  Scope 2- market based 49,109
  Scope 3 6,275
  Total scope 1&2 56,421
  Total scope 1,2 &3 62,696
  Carbon intensity
  Kg/ m2- Scope 1 &2 105
  Tonnes per employee- scope 1 &2 3.1
  Kg per m2- Scope 1,2 &3 117
Data Notes:  
Reporting Period:

1 October 2018 to 30 September 2019

Baseline year: 1 October 2017 to 30 September 2018
Independent Assurance: Deloitte LLP has provided limited assurance over selected environmental metrics in accordance with the International Auditing and Assurance Standards Board’s (ISAE3000 (Revised)) international standard.
Consolidation (boundary) approach: Operational Control
Consistency with financial statements:

The reporting period does not correspond with the Directors’ Report period (01 January 2019 to 31 December 2019) as it was brought forward by three months to improve the availability of invoice data and reduce reliance on estimated data.

Prudential owns assets, which are held on its balance sheet in the financial statements, over which it does not have operational control. These are excluded from the data below. Assets not included on the balance sheet but held under an operating lease and where we have operational control are included.

Emission factor: Scope 1 and 3 reporting uses the UK DEFRA 2019 GHG Conversion Factors. Scope 2 calculations use the IEA GHG 2019 Conversion Factors for location-based reporting. Market-based reporting uses supplier emission factors for our UK REGO-backed supply and RE-DISS factors where available.
Accounting Methodology: The Greenhouse Gas Protocol Corporate Accounting and Reporting Standard
Materiality threshold: Five per cent
Data Restatements: (1) 2018 figure restated as accurate data became available from suppliers.

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).