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Social Sensitivity - Assignment CSR initiative of Company: Prudential Financial

ABOUT THE COMPANY:

Prudential Financial, Inc. is an American Fortune Global 500 and Fortune


500 company whose subsidiaries provide insurance, investment management, and other financial
products and services to both retail and institutional customers throughout the United States and
in over 30 other countries. Principal products and services provided include life
insurance, annuities, mutual funds, pension- and retirement-related investments, administration
and asset management, securities brokerage services, and commercial and residential real estate in
many states of the U.S. It provides these products and services to individual and institutional
customers through distribution networks in the financial services industry. Prudential has
operations in the United States, Asia, Europe and Latin America and has organized its principal
operations into the Financial Services Businesses and the Closed Block Business.
Prudentials purpose To power the ambitions of people, organizations and communities
guides us toward finding the best path from achieving todays goals to keeping tomorrows
promises. We focus on maintaining strong momentum in our businesses now while investing in
resources that will create value well into the future.
Proactive engagement with stakeholders supports Prudentials achievement of its purpose and the
companys long-term vitality by encouraging learning and increasing transparency. This years
report builds on productive discussions and suggestions from investors, customers, and advocates.

Prudential has provided more than $800 million in Foundation grants and nearly $2 billion in
impact investments to date

ISSUE TACKLED THROUGH CSR:

Meeting the financial needs of Americas diverse communities-

For people living paycheck to paycheck, the inability to provide for unforeseen events can create
an all-consuming sense of financial uncertainty. As Latinos make up a growing percentage of the
U.S. population, their socio-economic status and experience has the potential to significantly shape
the long-term outlook of the nation as a whole. In 2014, Prudential conducted a study on the
Hispanic American Financial Experience, which found that Hispanics are moderately confident in
the future outlook for their household finances, but are unprepared for long-term financial security.
More than one-third of the individuals surveyed indicated that they are neither a saver nor an
investor as they manage more immediate expenses rather than focusing on retirement.
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.
CSR INITIATIVES:

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.
At Prudential, they work with public, private and nonprofit sector partners to advance their mission
of promoting financial and social mobility for underserved populations, and they concentrate their
efforts on four focus areas:

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 todays 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. They 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.

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.

Remarks:
Prudential Financials CSR activities concentrates on improving quality of life through education,
social mobility and responsible business. The Investments and support made by the company
proves the same. Prudential is one of the top players in their business and they identified the need
of sustainable development of people as an essential thing.