Principal Bank Sustainability Profile
Principal Bank, a division of Principal Financial Group, is headquartered in the United States and operates primarily in the financial services industry. Founded in 1879, the bank has established itself as a leader in providing innovative banking solutions, including personal and business banking services, investment products, and retirement planning. With a strong focus on customer-centric solutions, Principal Bank offers unique features such as competitive interest rates and tailored financial advice, setting it apart in a crowded marketplace. The bank has achieved notable milestones, including recognition for its commitment to financial wellness and community engagement. As a trusted name in the industry, Principal Bank continues to enhance its market position by prioritising customer satisfaction and delivering comprehensive financial services across major operational regions in the US.
DitchCarbon Score
How does Principal Bank'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 Financial Intermediation 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 Bank's score of 54 is higher than 73% 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 Bank, headquartered in the US, currently does not report specific carbon emissions data, as indicated by the absence of emissions figures. However, it is important to note that emissions data may be cascaded from its parent company, Principal Financial Group, Inc., at a cascade level of 4. This means that any climate commitments or emissions reductions initiatives may be influenced by the broader strategies and targets set by Principal Financial Group. As of now, Principal Bank has not established specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other recognised frameworks. The lack of documented climate pledges or reduction initiatives suggests that the bank is still in the early stages of formalising its climate commitments. In the context of the financial services industry, many organisations are increasingly focusing on sustainability and carbon reduction strategies. Principal Bank's future climate commitments may align with industry trends, but specific details remain unspecified at this time.
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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 | - | - | - | - | - | - |
How Carbon Intensive is Principal Bank's Industry?
How Carbon Intensive is Principal Bank's Location?
Principal Bank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Principal Bank has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
