Originally Published by Prudential.
Prudential Financial, Inc. released its 2017 sustainability report, detailing how the company supports its four building blocks of long-term vitality: customer focus, responsible impact, talent focus and financial strength.
“At Prudential, our business is focused on providing opportunities to achieve financial security, because when individuals are financially well, positive effects are experienced everywhere—across communities and society,” said Margaret “Peggy” Foran, chief governance officer and corporate secretary for Prudential Financial. “Our sustainability efforts, which are foundational to Prudential’s business strategy, enable the company to continue with our mission of promoting financial wellness and deliver on our promises for generations to come.”
The report, Committed to Financial Wellness, covers Jan. 1 to Dec. 31, 2017. Highlights from the annual report include:
- To better serve its customers, Prudential unveiled and implemented a comprehensive strategy for its U.S. businesses to enhance the delivery of financial wellness solutions.
- Prudential’s Customer Office partnered with various business units to develop and launch a digital financial wellness platform. This platform enhances the Prudential Pathways program, which provides financial education in the workplace to the employees of Prudential’s group and retirement corporate clients.
- Prudential increased renewable energy investments by more than 13 percent to $4.3 billion, and managed 26.7 million square feet of LEED-certified U.S. real estate totaling $13.9 billion, as of Dec. 31, 2017.
- Prudential’s emerging managers program placed $1.1 billion in assets with women- and minority-owned firms as of Dec. 31, 2017.
- Prudential made $250 million in new commitments within its impact investments portfolio in 2017. As of year-end, Prudential has $715 million in assets under management in its impact investments portfolio, which is on pace toward reaching its $1 billion goal by 2020.
- Prudential’s Chairman and CEO John Strangfeld has signed two global external pledges—The CEO Action for Diversity and Inclusion pledge and The Catalyst CEO Champions for Change commitment—joining forces with other large companies to advance diversity and inclusion efforts globally.
- Prudential enhanced its paid parental leave policy, increasing fully paid leave from four weeks to 10 weeks for birth mothers, fathers and adoptive parents.
- The company’s annual financial results are achieved through the quality of its business mix, managing risk appropriately and deploying capital efficiently. In 2017, Prudential generated earnings per share (EPS) of $10.58 on an adjusted operating income basis, contributing to EPS growth of 11 percent annually over the past five years.
- Prudential’s domestic insurance company subsidiaries have financial strength ratings of “A” and above as determined by the major independent ratings agencies, as of May 2, 2018.
Prudential’s 2017 Sustainability Report was prepared in accordance with the Global Reporting Initiative Standards Core option, aligned with the International Integrated Reporting Coalition’s framework and refers to the Sustainability Accounting Standards Board’s provisional guidelines for insurance companies.
Visit prudential.com/sustainability to view Prudential Financial’s 2017 Sustainability Report.