Principal Financial Group has joined the U.N. Global Compact CFO Taskforce as the company continues to integrate sustainability commitments into its finance strategies. The taskforce provides an influential platform for financial leaders to mobilize trillions of investment dollars in support of the U.N. Sustainable Development Goals.
Deanna Strable, Principal executive vice president and chief financial officer, and Everett Miles, vice president of capital markets for Principal, will work with taskforce members to put forward recommendations that better unlock private capital and create new investment opportunities aiming to prompt more companies to prioritize meaningful sustainability commitments.
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“Joining the U.N. Global Compact CFO Taskforce gives Principal a powerful voice as we continue work toward improving the wealth and well-being of more people, businesses, and communities,” Strable said. “Members of the taskforce manage $1.7 trillion in corporate investment and are in the unique position to advance responsible investing and business practices. I look forward to working with members of the taskforce to enable finance practices that support a more inclusive and sustainable world.”
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Principal has identified five U.N. Sustainable Development Goals as core initiatives within its Environmental, Social, and Governance (ESG) strategy and earlier this year announced measurable ESG commitments. Carbon reduction is a major component and, by 2035, the company is committed to reducing its U.S. carbon emissions by 40% with the intent to achieve net-zero carbon emissions by 2050. Principal also issued a $600 million sustainability bond in August to fund eligible green and social initiatives with the bond proceeds.
The CFO taskforce has 60 members and is actively recruiting more to join and adopt its four principles that are critical for supporting companies transitioning to more sustainable business practices.
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