Prudential Financial, a leading financial services company, has set target for net zero by 2050 as part of its commitment to sustainability. Prudential has set specific goals for scope 1, scope 2, and scope 3 emissions, which include direct emissions from its operations, emissions from purchased electricity, and emissions from its value chain, respectively. In 2022, the company reported a scope 1 greenhouse gas emissions of 12,722 tCO2e and scope 2 greenhouse gas emissions (market-based) was 29,226 tCO2e & (location-based) 29,729 tCO2e. Scope 3 emissions (tCO2e) was reported 353,877 tCO2e. Greenhouse gas intensity was 0.0074 (tCO2e/sq ft) scope 1 & 2 (market-based).

The company has invested in renewable energy projects, including solar and wind energy, which have resulted in the production of 72,443 MWh of energy and the avoidance of 26,298 tCO2e emissions. Additionally, Prudential has financed green buildings, including LEED Gold and Platinum certified office buildings, which have contributed to the avoidance of 6,977 tCO2e emissions. The company has also supported environmentally sustainable management of living natural resources and land use through financing FSC-certified sustainable forest management projects covering 82,702 hectares.

Prudential has taken significant steps to reduce its emissions and achieve its net-zero targets. The company has allocated $500 million in green bond proceeds to finance eligible projects that contribute to renewable energy generation, green buildings, and sustainable land use. These investments have resulted in substantial emissions reductions and energy production. Prudential has also provided financing for the acquisition and refinance of properties that meet national and international green building standards.

In conclusion, Prudential Financial is committed to achieving net-zero emissions and has made significant progress in reducing its carbon footprint. The company has invested in renewable energy projects, green buildings, and sustainable land use initiatives, resulting in substantial emissions reductions. Prudential's efforts align with its long-term commitment to sustainability and contribute to a more environmentally responsible financial sector.

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