Corporate Social Responsibility – Our Approach - Prudential
As a company, we recognize that generating a financial return and advancing social goals are not mutually exclusive. Nevertheless, there still exist communities and individuals whose needs are underserved by traditional capital markets.
At Prudential, we bring our financial expertise, as well as human and financial resources, to deliver lasting,
high-impact solutions. Working with public, private and nonprofit sector partners to advance our mission of promoting financial and social mobility for underserved populations, we concentrate our efforts on four focus areas:
Prudential has provided more than $800 million in Foundation grants and nearly $2 billion in impact investments to date.
In 2013, direct employee donations coupled with The Prudential Foundation matching gifts contributed $15.6 million to nonprofit organizations.
- Meeting Basic Needs: When people cannot meet their basic needs - a roof over their heads, food on the table, power for their home - it is difficult to focus on long-term goals. Prudential invests in efforts that make housing, nutrition and energy more affordable and accessible. We also help meet these needs during times of disaster.
- Connecting People to Quality Jobs: For people who lack an education or the skills necessary to compete in today’s economy, securing employment may be challenging. Prudential supports academic preparation and skill building efforts aimed at improving the ability of people to secure quality jobs. We also support businesses that create and grow jobs that offer fair wages, reasonable working conditions, opportunities for career growth and benefits.
- Building Assets: For people living paycheck to paycheck, the inability to provide for unforeseen events can create an all-consuming sense of financial uncertainty. Underserved individuals and communities often lack access to asset building and protection products and services that are essential to achieving long-term financial security. Prudential collaborates with partners to connect those in need to these critical tools.
- Transforming Communities: Residents of poor communities face greater obstacles to upward mobility. Prudential works to transform cities and revitalize communities by investing in systems and solutions that address challenges such as poor education outcomes, high crime and disinvestment.
Solutions to these social challenges are made, not found, and so we use our diverse resources - including grants, investments and human capital - to develop tailored solutions that produce an enduring effect. Through strategic guidance and consulting, we also work with our businesses to identify opportunities that address both corporate and community needs.
- Corporate Giving
Cultivating partnerships to strengthen communities where we live and work, Corporate Giving oversees all cash giving to nonprofit organizations. This includes company contributions, which support pro-social causes that complement business interests and strategic grant making through The Prudential Foundation. Established in 1977, The Prudential Foundation advocates for system change and supports the promotion, replication and integration of evidence-based practices. As a strategic investor, the Foundation makes long-term commitments that yield tangible results through both grants and program-related investments.
- Impact Investments
Long before formalizing what is now the Impact Investments group, Prudential understood the importance of investing in urban cities to spur economic development. In 1976, Prudential established a dedicated investment team to manage what was a growing portfolio of investments that all shared a common thread of community revitalization. The group invests in a variety of asset classes including public and private debt and equity, mortgages, tax credits, REITS and structured products. The team manages a portfolio that will soon surpass $500 million and originates over $100 million in new impact investments each year, while generating an appropriate risk-adjusted return.
- Corporate & Community Engagement
To maximize our collective impact and deepen our commitment to community, the Corporate & Community Engagement team offers several ways for our employees to get involved throughout the year. Our Prudential CARES programs encourage employees to use their passions, business skills and expertise to make a meaningful contribution to their communities, while also providing leadership and development opportunities that can help elevate their careers at Prudential.