Prudential Financial

In terms of senior leadership accountability, the responsibility for sustainability issues within Prudential Financial lies with the Corporate Governance and Business Ethics Committee which has oversight from the board of directors. 

Prudential Financial discloses that it has a green bond portfolio comprised of USD 574.8 million of total assets which go towards renewable energy and green buildings.  

Prudential Financial has a publicly available policy statement committing it to respect human rights. The financial institution discloses the proportion of its total direct operations workforce for each employee category by gender and race or ethnicity. Moreover, it has a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or concerns.  

Prudential Financial could link the remuneration of its executive or management teams to sustainability performance criteria. The financial institution has an opportunity to make a public commitment to gender equality and women’s empowerment as well as disclose how it addresses any gender pay gaps. In terms of female representation in leadership positions, women are underrepresented on the board of directors where only 4 out of 13 board members are women. In addition, Prudential Financial has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.  

There is no evidence that the Prudential Financial discloses a target to reach net-zero financed emissions by 2050. Additionally, the financial institution has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. The financial institution could align its green bonds portfolio with internationally recognised frameworks. Regarding nature and biodiversity, no evidence was found that the financial institution is committed to minimising its negative impacts or financing regenerative solutions. 

Prudential Financial  has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its investment activities. To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of investments directed towards low-income developing countries.