Prudential Financial

Prudential Financial, a company operating in the insurance and pension funding services sector, has reported a total of approximately 278.45 billion kg CO2e in emissions for the year 2024. This total encompasses Scope 1, Scope 2, and Scope 3 emissions.

For Scope 1 emissions in 2024, Prudential Financial reported approximately 13.61 billion kg CO2e. Scope 2 emissions, on a market-based approach, were approximately 9.31 billion kg CO2e. The company's Scope 3 emissions for 2024 were substantial, totalling approximately 255.54 billion kg CO2e, with purchased goods and services accounting for the largest portion.

Looking at previous years, total emissions for 2023 were approximately 439.76 billion kg CO2e, with Scope 1 at approximately 12.78 billion kg CO2e, Scope 2 market-based at approximately 16.88 billion kg CO2e, and Scope 3 at approximately 410.10 billion kg CO2e. In 2022, total emissions were approximately 43.08 billion kg CO2e (location-based Scope 1 and 2), with Scope 1 at approximately 13.35 billion kg CO2e, Scope 2 market-based at approximately 29.23 billion kg CO2e, and Scope 3 at approximately 353.69 billion kg CO2e.

Prudential Financial has established several key climate commitments. The company aims to achieve net zero emissions across its primary domestic and international home office operations by 2050. As interim goals, Prudential targets a 55% reduction in Greenhouse Gas (GHG) emissions by 2030 and a 97% reduction by 2040, both from a 2017 baseline year. Additionally, they aim for carbon neutrality for a subset of facilities by 2040.

The company reported a significant reduction in Scope 1 and 2 emissions, achieving a 69% decrease from its 2017 baseline year for facilities included in its emissions reduction targets. This performance exceeded their 2030 GHG emissions reduction goal of 55% and meant they were 71% towards their 2040 goal of a 97% reduction by 2023. Between 2022 and 2023, Prudential reduced Scope 1 and 2 emissions by 30% for the facilities covered by their emissions reduction targets. In 2024, the company reported a 76% reduction in operational emissions since the 2017 baseline for these targeted facilities.

Prudential Financial's GB operations are within the insurance and pension funding services, except compulsory social security services (66) industry. The company is not currently cascading its emissions data from a parent organisation.