Prudential is supporting the low-carbon transition with a pledge to become a “net zero” asset owner by 2050

We will decarbonise our portfolio of assets held on behalf of our insurance companies with a new goal of becoming “net zero” by 2050.

We are taking immediate actions to help deliver on this ambitious longer-term objective. These include:

  • A 25 per cent reduction in the carbon emissions of all shareholder and policyholder assets by 2025
  • Divestment from all direct investments in businesses which derive more than 30 per cent of their income from coal, with equities to be fully divested by the end of 2021 and fixed-income assets by the end of 2022
  • A commitment to accelerate the transition to a low-carbon economy by engaging with the companies responsible for 65 per cent of the emissions in our portfolio

We are a responsible steward in managing the human impact of climate change.

Prudential has a distinctive role to play in the transition to a low-carbon economy. We are a signatory to the recommendations of the Task Force on Climate-related Financial Disclosures. We are decarbonising our investment portfolio and actively engaging with policymakers and investee businesses to encourage sustainable development.

We strive to ensure that the transition to a lower-carbon economy is an inclusive one for all of society.

We also recognise the importance of reducing the impact of our operations on the environment, and continue to increase our ambition in relation to our emissions.

Decarbonising our investment portfolio

Prudential needs to play its part in the transition to a lower carbon global economy and the collective efforts to limit the rise in global warming. Our strategic focus on stewarding the human impacts of climate change through decarbonisation of our investment portfolio over time also recognises that climate change presents long-term risks to the sustainability of our business.

Supporting an inclusive transition

Our approach to reducing the carbon footprint of our investment portfolio is one which supports sustainable growth and takes into consideration the impact on the economies, businesses and customers in the markets in which we operate and invest. Our support for an inclusive transition aims to balance our responsibilities and obligations to all our stakeholders. As part of the Sustainable Development Investment Partnership, we are a signatory to the Principles for Financing a Just and Urgent Energy Transition.

Managing our direct impact on the environment

To understand our impact, we measure our environmental performance and take action to improve our performance. We have set a target to become net carbon neutral across our Scope 1 and Scope 2 emissions by the end of 2030 through a combination of a 25 per cent reduction (per FTE) in our operational emissions and implementing carbon offsetting initiatives.

Read our 2020 ESG Report

Click below to access our full ESG Report for 2020 and to find out more about Stewarding the human impacts of climate change.

VIEW FULL REPORT

READ MORE ABOUT STEWARDING THE HUMAN IMPACTS OF CLIMATE CHANGE

Jackson National Life Insurance Company

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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).

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