Submitted by Principal Financial Group, Inc.
Originally published on principal.com
For some, being sustainable equals individual actions to benefit the environment—recycling, for example.
But when companies talk about sustainability, they’re referring to the choices and plans they make to support people, the planet, and their business now and into the future. Sometimes it’s referred to as environmental, social, and governance, or ESG. That’s an acknowledgement that sustainability is inclusive of, but much more than, behaviors like recycling.
The Principal Financial Group® purpose is clear: To foster a world where financial security is accessible to all. But that world remains far from reach if employees aren’t empowered, everyone doesn’t feel financially included, and business activities aren’t sustainable for the future.
At Principal®, our 2022 Sustainability Report details the progress—and the potential future global impact—of our enterprise approach to sustainability. It’s an opportunity to measure and check in: Are strategies working? Do goals need to change? Are we driving positive, long-term outcomes?
Some of the achievements in the report highlight progress such as expanding our energy and greenhouse gas emissions data collection from a U.S.-only to a worldwide scope, which in turn helps us plan how to reduce those emissions over the next few decades. Others offer examples of our more expansive approach to sustainability such as supporting a diverse workforce.
In the words of our President and CEO Dan Houston: “We’re prepared to keep the momentum going in 2023, advancing inclusive products and services, embedding sustainable practices, and harnessing the power of our people. We know there is more we can do. We’re committed to the work and transparency required to do it effectively.”
Principal and people
How does sustainability relate to people—both our employees and customers? The Sustainability Report offers insights into both short- and long-term opportunities that help each group.
For employees and work, it’s a gauge of their supportive work environment and their perception of it, among other measurements. A few key points:
Principal and the planet
While much of the Principal Sustainability Report focuses on current achievements, it also addresses multi-year goals and aspirations, particularly when it comes to the climate. After all, financial security cannot be accessible to all if climate change fosters instability. To that end, several notable metrics help Principal gauge progress.
Principal and profits
Driving meaningful change includes actions big and small for Principal core business and other efforts. The Sustainability Report demonstrates how to track those outcomes and data points, bring attention to partners, and continue to make progress—even if progress isn’t linear.
Read the full 2022 Principal Sustainability Report.
Global Financial Inclusion Index is a proprietary model output based upon certain assumptions that may change, are not guaranteed and should not be relied upon as a significant basis for an investment decision.
Integration of environmental, social and governance (ESG) factors is qualitative and subjective by nature. There is no guarantee that the criteria used, or judgment exercised, will reflect the beliefs or values of any particular investor. There is no assurance that any strategy or integration of ESG factors will be successful or profitable.
Principal community relations supports the communities where affiliates of the Principal Financial Group®, Des Moines, IA 50392 operates. Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.
12023 designation is based on results as of August 2022.
Principal Financial Group® (Nasdaq: PFG) is a global financial company with 18,500 employees1 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 51 million customers1 plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of America’s 100 Most Sustainable Companies2, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management3.” Learn more about Principal and our commitment to building a better future at principal.com.
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