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 32 is higher than 83% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Principal's reported carbon emissions
In 2023, Principal Financial Group, Inc. reported carbon emissions of approximately 5,365,000 kg CO2e from Scope 1, 9,560,000 kg CO2e from Scope 2, and 14,925,000 kg CO2e from Scope 3 in the US. This reflects a commitment to transparency in their emissions reporting, covering all three scopes of emissions. In 2022, the company recorded emissions of about 4,909,000 kg CO2e (Scope 1), 12,419,000 kg CO2e (Scope 2), and 17,329,000 kg CO2e (Scope 3) in the US, indicating a slight increase in emissions in 2023. The trend in emissions highlights the ongoing challenges faced by financial institutions in reducing their carbon footprint. Principal has set long-term climate targets, although specific reduction targets have not been disclosed. The company is currently in a transitory grace period for compliance with its Commitment Compliance Policy, with targets expected to be submitted by July 31, 2023. Notably, Principal has not committed to a net-zero target as of now. Overall, Principal's emissions data and climate commitments reflect the complexities of managing carbon emissions within the financial sector, as they work towards establishing more defined reduction strategies in the future.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
Add to project| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 6,557,000 | 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 |
| 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 committed to some reduction initiatives 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.
