Press release from Business Wire
Principal Financial Group Named Climate Performance Leader
Wednesday, September 25, 2013
Principal Financial Group Named Climate Performance Leader15:38 EDT Wednesday, September 25, 2013
DES MOINES, Iowa (Business Wire) -- The Principal Financial Group® has earned a position in CDP's S&P 500 Climate Performance Leadership Index (CPLI). This annual index highlights those companies listed on the Standard & Poor's 500 Index (S&P 500) that demonstrate strategies committed to improving their impact on the environment.
Actions by The Principal® to reduce carbon emissions and mitigate the risks of climate change have been recognized by CDP, the world's only global environmental disclosure system. The achievement is highlighted in the newly released CDP S&P 500 Climate Change Report 2013, which tracks how America's largest listed companies are responding to the changing climate.
The Principal scored 95 out of 100 for its disclosure efforts and is included in the ‘A band' for climate performance.
Achieving an A band for climate performance is a prerequisite for a position on the CPLI, which is based on a number of criteria associated with measuring, verifying and managing carbon footprints. There are 36 S&P 500 companies included in the 2013 CPLI.
“Being a responsible corporate citizen is part of our core values and part of our eco-friendly strategy,” said Jed Fisk, vice president of Corporate Real Estate, the Principal Financial Group. “We take a comprehensive approach to reduce our carbon footprint and we are continually finding new ways to meet our aggressive carbon reduction goals.”
Performance bands awarded by CDP provide an evaluation tool for institutional investors and stakeholders tracking corporate efforts to mitigate climate change. Through various channels, including Bloomberg terminals, company performance is communicated to investors and other decision makers that need to assess corporate preparedness for changing market demands and emissions regulation.
Paul Simpson, CEO of CDP, said, “Natural resource scarcity is intensifying; the scientific case for action to mitigate climate change is strengthening; and the number of investors requesting corporate action on climate change through CDP is continually increasing. We congratulate companies in the Climate Performance Leadership Index for their pioneering efforts to combat climate change and grow low carbon economies at this critical time.”
Tom Carnac, President for CDP in North America said,“American companies protecting themselves against climate risks and preparing to capitalize on the opportunities a changing climate presents are building competitive advantage. Increasingly we are seeing that taking action to address climate change is good for business. I am very pleased to see more U.S. companies recognized in the CPLI than ever before.”
The S&P 500 report including names of companies featured in the CPLI can be found at http://www.cdp.net.
About the Principal Financial Group
The Principal Financial Group® (The Principal®)1 is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $450.6 billion in assets under management2 and serves some 19.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 722 institutional investors with assets of US $87 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions. Please visit www.cdp.net or follow us @CDP to find out more.
1 “The Principal Financial Group” and “The Principal” are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of June 30, 2013.
Principal Financial Group
Hillary Gebert, 515-246-4942