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Responsible investing at Prudential Assurance Company Ltd

The Prudential Assurance Company (PAC), a subsidiary of M&G plc, is responsible for looking after the assets of Prudential customers, including policyholders in the £143 billion1 Prudential With-Profits Fund.

As an asset owner, PAC does not engage directly with investee companies on stewardship and sustainability issues. However, PAC’s Treasury and Investment Office does take strategic decisions about the kind of investments the asset owner funds make for the long term, and how long term risks like climate change should be approached, and it expects and instructs its asset managers to engage on its behalf in accordance with its stewardship and sustainability-related policies.

On this page, you can find details of some of the latest policies, disclosures and commitments that PAC has made on stewardship and sustainability.

More data and information is also available in our 2021 With-Profits Stewardship Report for customers.

Asset Owner ESG Investment Policy

Our Asset Owner Environmental, Social and Governance (ESG) Investment Policy relates to all aspects of business implemented by the Treasury & Investment Office on behalf of the Prudential Assurance Company. The Policy helps ensure our decisions and behaviours are consistent with our values of care and integrity, our sustainability priorities, and enable us to deliver sustainable long term outcomes for customers and policyholders in the With-Profits Fund.

FRC UK Stewardship Code

The Financial Reporting Council’s (FRC) UK Stewardship Code sets the standards for institutions in responsibly managing and owning assets on behalf of UK investors. Our annual PAC Stewardship Reports set out in detail how we have applied the 12 principles of the UK Stewardship Code in our activities, and the outcomes of these activities. For the past two years PAC has successfully applied to become a signatory of the FRC’s UK Stewardship Code. See below the 2020 and 2021 reports.

Climate

Climate change is one of the most pressing issues facing the planet, and will have an increasing impact on the environment, the economy and the way we live our lives. As part of M&G plc, PAC is committed to achieving net zero carbon emissions by 2050 across all our investment portfolios, in line with the UK Government’s targets to help limit global warming.

In 2021, PAC participated in The Bank of England’s Biennial Exploratory Scenario (CBES) exercise which aims to help organisations in the financial system plan for the impact of climate change. We looked at how different climate scenarios may affect our investments, including physical risks like flood and fire, and also transition risks as companies change their business models to reduce carbon emissions. This work will help us better manage these risks, and to identify investment opportunities which are less likely to be impacted by the physical risks of climate change.

Net Zero Asset Owners Alliance

In 2021, PAC joined the UN-convened Net Zero Asset Owners Alliance (NZAOA), a group of 74 global institutions who have committed to transition their combined $10.6 trillion in assets under management to net zero by 2050. As part of its membership, PAC has committed to publish details of its Paris-aligned interim net zero targets every five years. The first interim targets it has set in line with the NZAOA target setting protocol are available here.

Current carbon emissions data for With-Profits Fund customers is available here.

UN Global Compact

In 2021, as part of M&G plc, PAC became a signatory of the UN Global Compact, which commits us to ten principles of good practice in human rights, labour, the environment, and anti-corruption, which we will report on annually.

Coal disposal

One of the most important things we can do to tackle climate change is to accelerate the phase out of thermal coal, which is a major source of carbon emissions. PAC, as part of M&G plc, committed in March 2021 to phase out thermal coal from its public listed investments by 2030 for OECD and EU countries, and 2040 for other countries and has already started the process of disposing of coal assets held by the With-Profits Fund.

Tobacco disposal

In 2021, PAC took the decision to exclude tobacco companies from all its portfolios, and the process of disposing of these assets has begun.

Investor relations

The information in this section of the site is intended for investment professionals only.

This section of the website is for the sole use of investment professionals. It should not be relied on by private investors and the information should not be construed as a financial promotion under the Financial Conduct Authority’s (FCA) Conduct of Business rules.

Press Releases
The information in this section of the site is intended for journalists and media professionals only.

This section of the website is for the sole use of journalists and media professionals. It should not be relied on by private investors or advisers and the information should not be construed as a financial promotion under the Financial Conduct Authority’s (FCA) Conduct of Business rules.
M&G Investments

You are about to enter the website of M&G Investments, a direct subsidiary of M&G plc.
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Prudential Financial, Inc.,

If you are looking for the affiliates of Prudential Financial, Inc., whose principal place of business is in the United States of America, click here to proceed.

Prudential plc

If you are looking for the affiliates of Prudential plc, an international group incorporated in England and Wales, click here to proceed.

M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

M&G Investments

You are about to enter the website of M&G Investments, a direct subsidiary of M&G plc.
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M&G plcの直接子会社であるM&G Investments(M&Gインベストメント)のウェブサイトにアクセスするには、
こちらをクリックしてください。

Prudential Financial, Inc.,

If you are looking for the affiliates of Prudential Financial, Inc., whose principal place of business is in the United States of America, click here to proceed.

アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.(プルデンシャル・ファイナンシャルInc.)の関連会社をお探しの場合は、こちらをクリックしてください。

Prudential plc

If you are looking for the affiliates of Prudential plc, an international group incorporated in England and Wales, click here to proceed.

イングランド及びウェールズで設立された国際グループ企業であるPrudential plc(プルデンシャル・ピーエルシー)の関連会社をお探しの場合は、こちらをクリックしてください。

M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

M&G plc は、イングランド及びウェールズで設立・登録。本社登録地は10 Fenchurch Avenue, London EC3M 5AG。登録番号11444019。M&G plcは持ち株会社で、その子会社の一部はPRA(健全性監督機構)及びFCA(金融行為規制機構) に認可され、それらの規制対象となっています。

M&G plc は、イングランドを登録地、及び主たる事業領域とする会社で、その関連会社は有数の貯蓄・投資機関として基盤を確立しています。M&G plcは、Prudential Assurance Company Limited(プルデンシャル・アシュアランス・カンパニー・リミテッド)の直接親会社です。なお、Prudential Assurance Company Limitedは、アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.(プルデンシャル・ファイナンシャルInc.)またはイングランド及びウェールズで設立された国際グループ企業であるPrudential plc(プルデンシャル・ピーエルシー)とは一切関係がありません。

Prudential Portfolio Managers (South Africa) (Pty) Limited

You are about to enter the website of MandG Investments Southern Africa (Pty) Ltd a direct subsidiary of M&G plc. Click here to proceed.

Prudential plc

If you are looking for the affiliates of Prudential plc, an international group incorporated in England and Wales, click here to proceed.

M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.