Published 15 hours ago
Submitted by Principal Financial Group, Inc.
Originally published in Principal Financial Group 2023 Sustainability Report
Integrating sustainable investing practices
Our global investment philosophy
We aim to provide clients with sustainable investment options that offer competitive, risk-adjusted returns and utilize a holistic view of factors influencing risk and return to help create added value for clients, the environment, and society and over time.
Our approach
Our sustainable investing beliefs are grounded in fostering relationships with investors and communities by offering products and solutions that align with their values.
Our philosophy includes considerations of environmental, social, and governance (ESG) integration, sustainable product creation, engagement and stewardship, and responsible proxy voting.
Sustainable investing oversight and collaboration
Principal Asset ManagementSM has multiple levels of sustainable investing oversight and collaboration. Our Sustainable Investing Oversight Committee helps assure implementation of funds and strategies in accordance with the appropriate sustainability-related definitions. Our Sustainable Investment Council supports the sharing of best practices among investment professionals when constructing and managing client portfolios. Finally, our Sustainable Investing Leadership Team helps ensure our investment professionals have the information and resources needed to create and maintain sustainable investment products and solutions for clients.
Principal Financial Group®, Inc. total assets under management (AUM) in billions as of December 31, 20231
Principal Global Investors2 managed AUM in billions as of December 31, 20231
For purposes of our sustainability report, as of December 31, 2023, the assets under management for Principal Financial Group® were $694.5 billion, of which $499.5 billion is managed by Principal Global Investors and $180.4 billion is reported by Principal International. The Company uses Principal Asset Management AUM for marketing purposes, defined as assets under management for Principal Global Investors and Principal International excluding assets for entities where the Company is a minority owner and assets that are not allowed to be included due to regulatory requirements.
Our actions and performance in 2023
Throughout 2023 we continued advancing our sustainable investing efforts:
- Adopted a platform exclusions policy for our offshore Dublin fund platform.
- Provided training opportunities to approximately 1000 individuals on sustainable investing topics.
- Increased the firm’s sustainable investing AUM3 from 55% to approximately 61%.
- Established sustainable investing goals for our general account, covering two-thirds of the general account AUM.
- Launched four new sustainable investment products.
What’s next
In 2024, we’re preparing as global regulations increase the requirements for transparency and disclosure industry-wide such as the EU’s Corporate Sustainability Reporting Directive (CSRD), climate regulations in California, and climate-related disclosures in Singapore. Even if not yet subject to comply, many companies have already begun providing more transparency into their ESG practices in preparation, and we expect data coverage from our own underlying companies to continue to improve as a result.
"Sustainable investing is a powerful way to help drive positive change balanced by investor value creation. We continue to organize our talent and products to tap into this important area for both our clients and communities in the process.”
Kamal Bhatia
Chief Executive Officer of Principal Asset Management
To learn more, read the Principal Financial Group 2023 Sustainability Report.
1AUM as of December 31, 2023. Due to rounding, figures shown may not add to the totals.
2Principal Global Investors includes assets held by our general account and specific Principal International asset management businesses. Principal Asset ManagementSM is the trade name of Principal Global Investors, LLC. See Important Information page for AUM description.
3AUM representative of Principal Global Investors investment teams as of December 31, 2023. AUM that are sustainable investment products are internally classified by Principal Asset ManagementSM and not by any third party or regulatory body. Principal Asset ManagementSSM is the trade name of Principal Global Investors, LLC. See Important Information page for AUM description.
Integration of sustainability considerations and/or environmental, social and governance (ESG) factors is qualitative and subjective by nature. There is no guarantee that the criteria used, or judgment exercised, will reflect the beliefs or values of any particular investor. There is no assurance that any strategy or integration of sustainability considerations and/or ESG factors will be successful or profitable.
Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.
3665773-072024
Principal Financial Group, Inc.
Principal Financial Group, Inc.
Principal Financial Group® (Nasdaq: PFG) is a global financial company with 18,500 employees1 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 51 million customers1 plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of America’s 100 Most Sustainable Companies2, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management3.” Learn more about Principal and our commitment to building a better future at principal.com.
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