DES MOINES, IA / ACCESSWIRE / May 26, 2023 / Principal Financial Group® was named one of Barron's 100 Most Sustainable Companies, making its third consecutive appearance on the list. According to Barron's 2023 list, the practices of Principal® not only drove sustainability efforts, but helped drive strong company stock results by outperforming the S&P 500 in 2022.
"We're honored to be recognized by Barron's for a third consecutive year, highlighting our commitment to creating a more sustainable future for our employees and communities around the world," said Beth Wood, Chair of the Sustainability Task Force and executive vice president for Principal. "Our mission is to advance financial inclusion and that is only possible when we prioritize and hold ourselves accountable to our sustainability commitments. At Principal, our sustainability practices prioritize how we can create a brighter future for the generations to come, which also deliver positive results and value for our shareholders."
Principal recently released its 2022 Sustainability Report, focusing on the company's sustainability progress and plans to continue to meet its goals. For Principal, the sustainability report serves as a guide for its practices in areas such as company culture, climate impact, financial inclusion, and sustainable investments. Notable achievements in 2022 included:
- A decrease in its global scope 1 and market-based scope 2 greenhouse gas (GHG) emissions of 30.3% from its 2019 baseline.
- Exceeded its annual target of 80% for its Global People Inclusion Index (GPII) with a score of 82%, which measures a culture of inclusion at the company.
- Grew representation of people of color across all employment categories in the U.S., including in senior management positions which increased from 12.5% to 18% from 2021.
"The sustainability report is a testament to our continued transparency on reporting the company's progress in these areas and the potential global impact of our enterprise approach to sustainability. As we continue to meet our goals, we're also prepared to expand our practices and build a more sustainable company and environment that helps us better serve our customers," Wood said.
In its sixth year of ranking the most sustainable companies, Barron's utilized Calvert Research and Management to assess the 1,000 largest publicly traded companies by market value across 230 performance indicators. Calvert ranked each company by how it performed in five areas which included: shareholders, employees, customers, community, and the planet. Some of the topics assessed under these areas included board structure, business ethics, executive compensation, workplace diversity, GHG, emissions and related policies, and biodiversity.
See the full results and insights from the 2022 Sustainability Report.
About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with 19,000 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 62 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 2023 World's Most Ethical Companies® by Ethisphere2, a member of the Bloomberg Gender Equality Index, and a "Best Places to Work in Money Management3." Learn more about Principal and our commitment to building a better future at principal.com.
1 As of March 31, 2023
2 Ethisphere, 2023
3 Pensions & Investments, 2022
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. ©2023 Principal Financial Services, Inc.
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SOURCE: Principal Financial Group
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