Principal
Principal Financial Group, commonly referred to as Principal, is a leading global financial services company headquartered in the United States. Founded in 1879, Principal has established a strong presence in various operational regions, including North America, Asia, and Europe. The company operates primarily in the insurance and investment sectors, offering a diverse range of products and services such as retirement solutions, asset management, and risk management. With a commitment to innovation, Principal stands out for its tailored financial solutions that cater to both individuals and businesses. The firm has achieved significant milestones, including recognition for its sustainable investment practices and a robust market position as a trusted provider of financial security. Through its comprehensive offerings, Principal continues to empower clients to achieve their financial goals while maintaining a focus on long-term growth and stability.
DitchCarbon Score
How does Principal's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Principal's score of 58 is higher than 98% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Principal's reported carbon emissions
In 2023, Principal Financial Group reported total carbon emissions of approximately 22,727,900 kg CO2e, comprising 6,115,700 kg CO2e from Scope 1, 9,560,000 kg CO2e from Scope 2, and 14,925,000 kg CO2e from Scope 3 emissions. This reflects a significant commitment to reducing their carbon footprint, as they achieved a 46% reduction in Scope 1 and Scope 2 market-based emissions compared to their 2019 baseline, surpassing their target of a 17.3% reduction. In 2022, their emissions were approximately 27,426,000 kg CO2e, with Scope 1 emissions at 4,909,000 kg CO2e and Scope 2 emissions at 12,419,000 kg CO2e. The trend indicates a proactive approach to sustainability, particularly in the financial sector, where they are actively working to mitigate their environmental impact. Principal has set long-term reduction targets, although some near-term commitments have been removed or expired. They are currently in a transitory grace period for compliance with new targets, which are expected to be submitted by July 31, 2023. The company continues to focus on enhancing its sustainability practices and reducing emissions across all scopes.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 6,557,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 29,965,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 36,522,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Principal is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
