Prudential Financial

Prudential Financial's reported carbon emissions

Prudential Financial, headquartered in the UK, is a leading insurance and pension funding services provider. In 2024, the company reported total global emissions of approximately 296.1 million kg CO2e. This figure comprises 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 totalling roughly 255.5 million kg CO2e. For 2023, Prudential Financial's total global emissions were approximately 432.9 million kg CO2e. This breakdown includes Scope 1 emissions of around 12.8 million kg CO2e, Scope 2 market-based emissions of approximately 16.9 million kg CO2e, and Scope 3 emissions totalling about 410.1 million kg CO2e. In 2022, the company's total global emissions reached approximately 95.1 million kg CO2e. This was composed of Scope 1 emissions of about 13.3 million kg CO2e, Scope 2 market-based emissions of roughly 29.2 million kg CO2e, and Scope 3 emissions totalling approximately 353.7 million kg CO2e. Prudential Financial has set ambitious climate commitments, including a long-term goal to achieve net zero environmental performance emissions across its primary domestic and international home office operations by 2050. Near-term targets involve a 55% reduction in Scope 1 and 2 greenhouse gas (GHG) emissions from a 2017 baseline year by 2030. Furthermore, the company aims for a 97% reduction in Scope 1 and 2 emissions by 2040 and has set a goal for carbon neutrality for a subset of facilities by 2040. As of 2023, Prudential reported achieving a 69% decrease in Scope 1 and 2 emissions from facilities included in their reduction targets compared to the 2017 baseline, significantly exceeding their 2030 goal. They also reported a 30% reduction in Scope 1 and 2 emissions from 2022 to 2023 for these targeted facilities. The company is 71% towards its 2040 goal of a 97% Scope 1 and 2 emissions reduction. Additional targets include a 65% GHG reduction goal by 2050 for U.S. domestic sites, with interim goals of a 34% reduction by 2030 and a 52% reduction by 2040, all from a 2017 baseline. Another reported commitment is a 40% reduction in GHG emissions by 2030 and reaching net zero by 2060. A different report indicates a commitment to reducing scope 1 and 2 GHG emissions by 42% by 2030 from a 2021 science-based target base year, with a net zero goal by 2050. In 2024, Prudential reduced its operational emissions by 76% since its 2017 baseline year for the facilities in its emissions reduction targets.