Principal® achieves sustainability goals in newly released report
15 4월 2024 - 11:22PM
Business Wire
Principal Financial Group® has met or exceeded its multi-year
sustainability goals according to findings in the 2023
Sustainability Report released today.
The 2023 Sustainability Report from Principal details progress
made on corporate responsibility commitments focused on employee
empowerment, financial inclusion, climate impact, and sustainable
investing. These commitments, established in 2021, support the
company’s focus on growing a resilient, inclusive, and more
financially secure society.
Notable progress outlined in the report includes:
- Principal doubles the number of diverse small and midsized
businesses (SMBs) served. In 2021, together with Principal®
Foundation, Principal made this commitment with a goal of
supporting more than 14,600 diverse SMBs and entrepreneurs by 2025.
This goal was exceeded in 2023 with 14,745 of these companies
served. Principal has set a new goal to triple the number of
diverse SMBs it supports totaling 30,000 SMBs by 2025.
- Principal® Foundation invested $18 million in 2023. Over
the past three years, Principal Foundation has invested $51 million
to help ensure access to essential needs, develop pathways toward
economic mobility and support financial enablement and development,
with a focus on entrepreneurs, small businesses, and diverse
populations.
- Principal achieves annual Global People Inclusion Index*
(GPII) goal with a score of 82%. This proprietary Inclusion
Index measures sentiments of its nearly 20,000 global employees
related to culture and empowerment. In 2023, the goal was 80% and
the company is increasing this goal to 82% in 2024 based on past
performance and a desire for continuous improvement.
- Principal continues to meet greenhouse gas (GHG) emission
goals, averaging a 11.5% reduction each year since 2019.** The
company is on track to reach its long-term goal of achieving a 65%
reduction in global scope 1 and scope 2 market-based GHG emissions
by 2034. The glide path goal averages to a 4.3% reduction per year,
which Principal achieved in 2023 through meaningful decreases in
emissions in the U.S. and globally.
- Continued growth in the firm’s assets under management
representing sustainable investing options. Principal
investment teams increased assets under management internally
classified as sustainable investment products from 55% in 2022 to
approximately 61% in 2023 and introduced four new sustainable
investment options.***
“Customers want to do business with companies whose values align
with their own. Our customers tell us these actions matter to them.
They also matter to us.” said Dan Houston, chairman, president, and
chief executive officer at Principal. "Principal is committed to
expanding the population of those living in financial security
through long-term, responsible actions like advocating for
financial inclusion and creating new opportunities for generations
to come."
Progress on all Principal sustainability commitments can be
found in the 2023 Sustainability Report.
*The Global People Inclusion Index is a proprietary survey tool
measuring employee inclusion at Principal.
**2023 GHG emissions and energy consumption values will be
verified in Q2 2024 and final figures will be disclosed in the 2024
CDP Climate Change Questionnaire.
***Assets under management (AUM) representative of Principal
Global Investors investment teams as of December 31, 2023. AUM
includes the asset management operations of the following:
Principal Global Investors, LLC; Principal Real Estate Investors,
LLC; Principal Real Estate Europe Limited and its affiliates;
Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Origin
Asset Management, LLP; Claritas Investimentos; Principal Global
Investors (Europe) Limited; Principal Global Investors (Singapore)
Ltd.; Principal Global Investors (Australia) Ltd.; Principal Global
Investors (Japan) Ltd.; Principal Asset Management Company (Asia)
Ltd., and include assets where we provide model portfolios. AUM
that are sustainable investment products are internally classified
by Principal Asset ManagementSM and not by any third party or
regulatory body. Principal Asset ManagementSM is the trade name of
Principal Global Investors, LLC. Products representative of
Principal Global Investors and Principal International investment
teams as of December 31, 2023.
About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial
company with nearly 20,000 employees1 passionate about improving
the wealth and well-being of people and businesses. In business for
more than 140 years, we’re helping approximately 62 million
customers1 plan, protect, invest, and retire, while working to
support the communities where we do business, and build a diverse,
inclusive workforce. Principal® is proud to be recognized as one of
the 2024 World’s Most Ethical Companies® by Ethisphere2, a member
of the Bloomberg Gender Equality Index, and a “Best Places to Work
in Money Management3.” Learn more about Principal and our
commitment to building a better future at principal.com.
1 As of December 31, 2023 2 Ethisphere, 2024 3 Pensions &
Investments, 2023
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version on businesswire.com: https://www.businesswire.com/news/home/20240415952062/en/
Media Contact: Megan Grandgeorge,
Grandgeorge.megan@principal.com, 515-878-1146
Principal Financial (NASDAQ:PFG)
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