Originally published in Principal Financial Group 2024 Sustainability Report

Principal® has a longstanding commitment to making a positive impact on the populations and communities we serve, and this commitment has grown and evolved over time.

In my 40 years with the company, I’ve seen us adapt to meet the changing needs of our stakeholders, while staying closely committed to our core values.

In my past decade as CEO, I’ve encouraged and supported this work at Principal and am proud of our accomplishments—including establishing our Sustainability Task Force, developing a strategy, and issuing our first public commitments. Now, as Executive Chair, I’m handing the baton to our new President and CEO Deanna Strable who will continue the company’s efforts to drive improved outcomes for people, society, and the planet.

Deanna, who served as CFO for the past seven years, and I co-architected our enterprise strategy to lead Principal into the next decade, mindful of the role our purpose plays in shaping our continued success. Additionally, we now serve together on the Principal Board of Directors, which reviews and approves commitments the company makes and monitors results.

Five years of progress

It’s been five years since we made our first public commitments, so before I turn this letter over to Deanna, I want to review the progress Principal has made during that time. I’m proud of all we’ve accomplished, led by our core values: Start with the customer. Do what’s right. Own what’s next. Invest for our future.

• Aligned our community impact initiatives more closely with our purpose: helping more people, businesses, and communities gain access to financial security.
• Contributed millions of dollars to communities through Principal® Foundation and made it even easier for employees to give back, matching donations and championing employee volunteer efforts around the world.
• Launched proprietary research designed to spur crucial conversations about financial inclusion globally.
• Added more sustainable investment options to meet increasing
  client demand.
• Maintained an inclusive and respectful workplace designed to help all employees succeed.
• Reduced the company’s impact on the environment through long-term, responsible actions that have led to exceeding our annual GHG emissions glide path target each year since 2019.

Our willingness to make these commitments and our diligence in delivering on them has led to impressive results, as detailed on page five. All of this is a source of great pride for the management, employees, and our Board. Of course there is more to be done, and I’m confident Deanna and team will rise to the challenge.

Committed to our future impact

It’s been a privilege to be part of meaningful work that advances our purpose, and as Executive Chair, I’ll continue my support for it. It’s the right thing to do, and it’s who we are as an organization. I’m looking forward to all that’s to come.

Dan Houston
Executive Chair

To learn more, read the Principal Financial Group 2024 Sustainability Report.

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.

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Principal Financial Group, Inc.

Principal Financial Group, Inc.

About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with nearly 19,000 employees¹ passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we’re helping approximately 68 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 the 2024 World’s Most Ethical Companies², a member of the Bloomberg Gender Equality Index, and named as a “Best Places to Work in Money Management³.” Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.

¹ As of September 30, 2024
² Ethisphere, 2024
³ Pensions & Investments, 2023

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