Prudential Financial Inc. announced on Thursday it has established a Global Environmental Committee to expand on its commitment to the environment by supporting new sustainability investments.
The Newark-based financial institution said goals were created by the committee to reduce the company’s impact on the environment. They include:
- Reduce domestic emissions by 65% by 2050;
- Improve recycling and composting to achieve 65% waste diversion rate by 2025;
- Allocate 10% of Prudential’s impact investing portfolio to sustainable investments by 2025;
- Grant $25 million to support response to climate-related natural disasters through The Prudential Foundation by 2025; and more.
“Our commitment to shareholders, customers and employees goes hand in hand with our responsibility to the environment and ensuring it is protected for future generations,” Margaret “Peggy” Foran, chief governance officer and corporate secretary at Prudential, said “We are proud of the steps we are taking to deliver sustainable business and environmental outcomes.”
Each of Prudential’s business units will implement the commitment, with support from the company’s Environmental Task Force, Sustainability Council and Rob Falzon, vice chairman.
