Prudential

Is Prudential an ethical pensions brand?

Owned by M&G Plc, Prudential is a financial brand which provides pensions. Prudential does not have a high enough score to reach The Good Shopping Guide’s minimum Ethical Benchmark. Due to its low score on the Ethical Pensions Ratings Table, it cannot be classed as one of our best pension providers.

Although it has not yet met our minimum Ethical Benchmark, Prudential is still encouraged to apply for Ethical Accreditation. The Good Shopping Guide would provide Prudential with a thorough evaluation and some suggestions on how to raise its Ethical Rating.

Visit the Ethical Pensions Ratings Table to see how Prudential compares to other brands within the Ethical Pensions sector. Our Ratings Tables can help you to learn more about the criteria that a brand has to reach to meet our minimum Ethical Benchmark.

The Good Shopping Guide encourages all brands to follow the example set by our top-rated brands to adopt more ethical practices and apply for Ethical Accreditation.

What does Prudential receive a top rating for?

Prudential receives a top score within The Good Shopping Guide’s Environmental Report category. The pension provider has an Environmental, Social and Governance Report (ESG) which shares greenhouse gas reduction targets, as well as a target to divest from coal.

It also receives a top score for Carbon Disclosure and Reduction Targets. Within the same report, Prudential has the target of reaching net zero by 2050 in alignment with the Paris Agreement.

What does Prudential receive a bottom score for?

Prudential unfortunately receives a bottom score for Environmental Destruction. In the most recent report by Amazon Watch ‘Complicity in Destruction IV’, it is revealed that Prudential is one of the top bondholders in companies with links to Amazon deforestation and breaches of indigenous rights.

In 2021, Prudential had over £30m bonds in several environmentally destructive mining companies, including AngloAmerican, Glencore, and Vale.

What can Prudential do to improve its score? 

Prudential’s bottom score within The Good Shopping Guide is based on an evaluation of multiple ethical criteria. If Prudential were to improve upon its bottom ratings, including its bottom score for Environmental Destruction, it could see its position rise on the Ethical Pensions Ratings Table.

Despite its below benchmark score, The Good Shopping Guide still encourages Prudential to apply for Ethical Accreditation. That way we can offer it some guidance on how to improve and become one of our top pension providers.

Could your pension brand benefit from Ethical Accreditation? Visit The Good Shopping Guide’s Ratings Tables to see which other brands within the Ethical Pension sector have received our ethics and sustainability certification and use our prestigious Ethical Mark. If you would like more information, get in touch or fill out a rapid initial assessment form.