PGIM, Inc.
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Decarbonization
- Energy Transition
- Energy Security
- Climate Change
Climate Goals & Targets
Environmental Challenges
- Intermittency of renewable energy sources
- Need for long-duration energy storage
- Infrastructure limitations for renewable energy
- Geopolitical risks related to energy supply
- Obsolescence risk in fossil fuel sectors
Mitigation Strategies
- Investing in grid modernization and expansion
- Investing in long-duration energy storage (pumped hydro)
- Investing in enabling renewable energy infrastructure
- Investing in lower-carbon fossil fuels (natural gas)
- Diversification of energy investments across multiple sources
Supply Chain Management
Climate-Related Risks & Opportunities
Transition Risks
- Regulatory changes
- Market shifts
- Obsolescence of fossil fuel assets
Opportunities
- Investment in renewable energy
- Investment in energy efficiency technologies
- Investment in carbon capture and storage
UN Sustainable Development Goals
- SDG 7 (Affordable and Clean Energy)
- SDG 13 (Climate Action)
Investments in renewable energy and energy efficiency contribute to achieving these goals.