Environmental commitment

Principal takes its responsibility to support our natural environment seriously. Our concern for the environment is an extension of one of our core values: do what’s right.

As such, we seek to reduce our environmental impact by reducing our carbon footprint, using energy and water efficiently, minimizing waste and engaging our employees, stakeholders and supply chain through environmental awareness initiatives.

To achieve this, we:

• Encourage and support environmentally responsible behaviors by our company, our employees and our partners in the communities where we operate.
• Comply with applicable environmental laws and regulations.
• Pursue opportunities to meet or exceed recognized environmentally responsible benchmarks.

The Board Nominating and Governance Committee oversees our corporate environmental and sustainability commitment.

Environmental focus areas

Energy and carbon

Pursue opportunities to invest in energy efficient systems and processes that reduce carbon and energy usage. Starting from a 2019 baseline, we aim for a 65% reduction in our global scope 1 and market-based scope 2 GHG emissions by 2034 and achieve net-zero GHG emissions by 2050.

Water efficiency

Incorporate responsible water management practices that result in meeting or exceeding Leadership in Energy and Environmental Design (LEED) guidelines for water efficiency.

Waste and recycling

Incorporate waste and recycling practices in business operations and construction projects that result in improved landfill diversion. Meet or exceed LEED guidelines for waste and recycling.

Awareness

Communicate regularly with employees and stakeholders about sustainability initiatives and progress. Support employee efforts to make a positive impact on the environment.

Supply chain

Engage top suppliers regarding their sustainability initiatives and establish purchasing guidelines to encourage responsible environmental practices.