Prudential Financial

Prudential Financial, headquartered in the GB, is an insurance and pension funding services company.

In 2024, Prudential Financial reported total emissions of approximately 278.4 million kg CO2e. This included Scope 1 emissions of about 13.6 million kg CO2e, Scope 2 (market-based) emissions of approximately 9.3 million kg CO2e, and Scope 3 emissions of roughly 255.5 million kg CO2e.

Looking back, their total emissions in 2023 were about 439.8 million kg CO2e, with Scope 1 at approximately 12.8 million kg CO2e, Scope 2 (market-based) at around 16.9 million kg CO2e, and Scope 3 at roughly 410.1 million kg CO2e. In 2022, total emissions were about 395.7 million kg CO2e, comprising Scope 1 emissions of approximately 13.3 million kg CO2e, Scope 2 (market-based) emissions of around 29.2 million kg CO2e, and Scope 3 emissions of roughly 353.7 million kg CO2e.

Prudential Financial has set several climate commitments and reduction targets:

• Near-term Reduction Targets:
  • They aim for an absolute reduction of 55% in Scope 1 emissions by 2030, with 2017 as the baseline year.
  • Similarly, they target an absolute reduction of 55% in Scope 2 emissions by 2030, also from a 2017 baseline.
  • Prudential has reported achieving a 69% decrease in Scope 1 & 2 emissions since their 2017 baseline year for the facilities included in their reduction target by 2023, exceeding their 2030 goal of 55%.
  • They also reduced Scope 1 & 2 emissions from these targeted facilities by 30% between 2022 and 2023.
  • An additional near-term target commits to reducing overall greenhouse gas emissions by 40% by 2030, with 2019 as the baseline year.
• Long-term Reduction Targets:
  • Prudential Financial is committed to achieving net-zero environmental performance emissions across its primary domestic and international home office operations by 2050 for Scope 1 and Scope 2 emissions.
  • They have an interim goal to reduce Scope 1 and Scope 2 GHG emissions by 97% by 2040 from their 2017 baseline year for specific core properties, aiming for carbon neutrality for these facilities by 2040. They are currently 71% towards this 2040 goal.
  • A longer-term absolute reduction goal targets a 65% reduction in Scope 1 and Scope 2 GHG emissions by 2050 from a 2017 baseline, initially focusing on U.S. domestic sites.
  • Prudential aims to reach net-zero emissions across all scopes by 2060, with a 2019 baseline.

All emissions data for Prudential Financial is directly reported by the organisation itself.