Prudential Targets To Achieve "net Zero" By 2050 - Quick Facts

(RTTNews) - Prudential plc (PRU.L, PUK) announced plans to decarbonise its portfolio of assets held on behalf of its insurance companies with a new goal of becoming, net zero, by 2050. The asset owner pledge is aligned to the Paris Agreement.

The company's immediate actions include: a 25 percent reduction in the carbon emissions of all shareholder and policyholder assets by 2025; divestment from all direct investments in businesses which derive more than 30 percent of their income from coal, with equities to be fully divested by the end of 2021 and fixed-income assets by the end of 2022; and a commitment to accelerate the transition to a low-carbon economy by engaging with the companies responsible for 65 percent of the emissions in its portfolio.