Environment/Supply Chain

We recognise that our business activities and the investments we make on behalf of our customers have an impact on the environment and the wider community.

It is important that our business management reflects the growing awareness of environmental issues within the supply chain, including factors such as: ethical considerations; security of supply; future costs; efficiency savings and legislation.

We believe corporate responsibility is an integral part of good business practice, encompassing our relationships with employees, customers, shareholders, suppliers, and business and non-business partners in the communities in which we operate.

The Prudential Procurement Teams' supply chain and environmental objectives are to secure services and products with minimal environmental impact where appropriate and to work with suppliers to create services and products that further our progress towards sustainable development, whilst meeting Prudential economic targets.

We will:

1) Identify environmentally preferable products and seek practical and innovative solutions to environmental and social issues in individual contract specifications for the supply of business goods and services.

2) Develop procurement strategies for key spend areas and those with high environmental impact that provide economic advantage, whilst where possible, reducing total material consumption, fossil fuel energy requirements, transportation and waste to lay the foundation for sound, long-term relationships with key suppliers.

3) Encourage key suppliers to minimise the impact of their operations on the environment through their procurement policies and practices and their own supply chains in meeting the contract specification.

In addition, we shall ensure that we have a training and development plan for our procurement staff and to review this policy annually.

Philip Broadley
Group Finance Director
March 2003