Prudential Investment Management, the asset management business of Prudential Financial, is a member of the Investor Network on Climate Risk. INCR, a $10 trillion network of investors, seeks to promote a better understanding of the financial risks and opportunities posed by climate change.
Alternative Energy Investments
Prudential has invested more than $500 million in wind energy projects in seven states--California, Colorado, Kansas, Minnesota, New York, Texas, and Washington--making us one of the largest institutional investors in that area. Power generated from these projects can satisfy the electricity needs of almost half a million average U.S. households.
Prudential Real Estate Investors owns or manages 15.7 million square feet of LEED-certified (Leadership Energy and Environmental Design) space in the U.S., representing more than $5.4 billion in gross market value, and is pursuing certification for many of its buildings. PREI® also maintains ENERGY STAR Portfolio Manager accounts for 121 office buildings. And using information from 59 environmental assessments performed across its portfolios, PREI has created Sustainable Standard Operating Guidelines, which have been adopted for use in Europe, Latin America and Asia.
PREI became a signatory to the U.N.-backed Principles for Responsible Investment in 2009, strengthening its commitment to incorporate environmental, social, and governance criteria into its investment practices. The company is also a voluntary partner with the U.S. Environmental Protection Agency's ENERGY STAR Program, as well as both the U.S. Green Building Council and the Urban Land Institute's Greenprint Center for Building Performance, an industry association whose mission is to reduce the carbon footprint of the real estate industry.
Socially Responsible Investment Funds
Pruco Life Insurance Company offers a variable universal life product that includes socially responsible investment choices. Through our joint ventures in China and Italy, we offer socially responsible funds such as the Everbright Pramerica New Growth Equity Fund and UBI Pramerica Azionario Etico (UBI Pramerica Ethical Equity Fund).*
*Funds are not registered or available in the U.S.