We recognise that our commercial activities can have an indirect impact on the environment, for example through our investments and procurement of goods and services.

The consideration of environmental criteria as part of our commercial decision-making process is a significant challenge. However, we have made progress on a number of initiatives. These include:

• Producing an Environmental Procurement Policy to be implemented across UK business units
• Launching the Prudential M&G Light Green Fund which forms part of the pooled pension fund
• Commencing the development of Socially Responsible Investment within the Property Investment Portfolio managed by PruPIM
• Developed an M&G Socially Responsible Investment Policy

Our General Insurance business was also involved in a number of initiatives addressing environmental issues, such as:

• Participating in the United Nations Environment Programme (UNEP) - Climate Change Group
• Involvement with the Association of British Insurers UK Flood Initiative panel
• Working on climate change analysis with the UK Climate Impact Programme