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 48 is higher than 72% 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 2024, Principal Financial Group, headquartered in the US, reported significant carbon emissions, totalling approximately 4,980,100 kg CO2e for Scope 1 and about 8,150,900 kg CO2e for Scope 2 (market-based). The combined total for Scope 1 and Scope 2 emissions reached around 13,131,000 kg CO2e. This reflects a commitment to transparency in their climate impact, with emissions data disclosed for both scopes. Comparatively, in 2023, Principal's emissions were higher, with Scope 1 at about 6,115,700 kg CO2e and Scope 2 (market-based) at approximately 16,612,200 kg CO2e, leading to a total of around 22,727,900 kg CO2e for Scope 1 and 2 combined. This indicates a notable reduction in emissions year-on-year. Principal has set ambitious reduction targets, aiming for a 30% decrease in gross Scope 1 and Scope 2 location-based carbon emissions by 2020, using 2010 as the baseline. They have exceeded their 2023 target, achieving a 46% reduction against their 2019 baseline for both scopes. Looking ahead, they have established a long-term goal of reducing Scope 1 and Scope 2 emissions by 37.5% by 2035, using 2019 emissions as the baseline. While Principal has not committed to net-zero emissions, they have engaged with the Science Based Targets initiative (SBTi) to align their goals with climate science. Their emissions data is sourced directly from Principal Financial Group, Inc., with no cascaded data from parent organisations.
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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 | - | - | - | - | - | - |
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.
