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Principal Financial Group boosts ESG efforts with $600m sustainability bond
Energy - AUGUST 18, 2021

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Principal Financial Group boosts ESG efforts with $600m sustainability bond

by Kali Persall

Principal Financial Group has issued its first sustainability bond as part of an effort to advance the company’s ESG initiatives.

Under the terms of a five-year funding agreement–backed notes through Principal Life Global Funding II, Principal will allocate proceeds of the $600 million bond toward eligible green and social initiatives, such as green buildings, renewable energy, energy efficiency, sustainable water practices, clean transportation, and pollution prevention and control, among other efforts. Eligible assets may include existing or future investments that meet criteria to help advance United Nations Sustainable Development Goals.

The sustainability bond has already garnered the interest of more than 60 investors.

“Principal is committed to being sustainable in our actions and solutions, and intentional in how we’re making progress toward our purpose,” said Deanna Strable, executive vice president and chief financial officer for Principal Fi

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