NEWARK, N.J.--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE: PRU), released its 2016 sustainability report, detailing how the company supports its four building blocks of long-term vitality: customer focus, responsible impact, talent focus and financial strength.
“Prudential was founded on the belief that financial security should be within reach for everyone,” said Margaret “Peggy” Foran, chief governance officer and corporate secretary for Prudential Financial. “Our sustainability efforts create long-term value so that we can continue to achieve our purpose and deliver on our promises—as we have for the past 140 years.”
The report, The Purpose of Sustainability, covers Jan. 1 to Dec. 31, 2016. Highlights from the annual report include:
Purpose and Customer Focus
- Prudential launched a cross-business project team to create measurable business value by developing and delivering new solutions for underserved consumer markets.
- Prudential created a seamless integrated experience to service claims across all its U.S. businesses, providing new capabilities to better serve beneficiaries during their time of need.
Purpose and Responsible Impact
- Prudential increased renewable energy investments by almost 19 percent to $3.8 billion; managed 27.2 million square feet of LEED-certified U.S. real estate totaling $13.7 billion; and had $380 million of green bond investments as of Dec. 31, 2016.
- Prudential’s emerging managers program placed about $1.6 billion in assets with women- and minority-owned firms as of Dec. 31, 2016.
- Prudential made $237 million in impact investments in 2016 and is halfway toward its goal of a $1 billion impact investment portfolio by 2020.
Purpose and Talent Focus
- Prudential announced a new program to provide $5,000 to each new employee hired through campus recruiting to help offset student-loan debt.
- Prudential held its first Global Women’s Forum in 2016, which led to the creation of the Global Women’s Initiative—a multipronged effort to strengthen gender diversity within the company.
Purpose and Financial Strength
- In 2016, Prudential generated earnings per share of $9.13 on an adjusted operating income basis, contributing to EPS growth of 9 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 3, 2017.
Prudential’s 2016 Sustainability Report was prepared in accordance with the Global Reporting Initiative Standards Core option, aligned with the International Integrated Reporting Coalition’s framework. It also includes aspects of the Financial Services Sector Disclosure documents and refers to the Sustainability Accounting Standards Board’s provisional guidelines for insurance companies. The preparation of the report considered all GRI Principles for sustainability reporting, including guidelines for Principles for Defining Report Content and Report Quality.
Visit prudential.com/sustainability to view Prudential Financial’s 2016 Sustainability Report.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of March 31, 2017, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.