We remain dedicated to embedding responsible energy, water, and waste management strategies across our operations by implementing sustainable and efficient solutions that drive continuous improvement.
Our Commitment
Through the use of energy-efficient technologies and access to renewable energy, we’re reducing our environmental footprint while moving closer to our long-term sustainability objectives.
We actively monitor water consumption and recycling performance, supported by well-defined action plans designed to improve outcomes. In addition, we’ve implemented a management system and policy modeled after ISO 14001, aimed at:
Our Commitment
Through the use of energy-efficient technologies and access to renewable energy, we’re reducing our environmental footprint while moving closer to our long-term sustainability objectives.
We actively monitor water consumption and recycling performance, supported by well-defined action plans designed to improve outcomes. In addition, we’ve implemented a management system and policy modeled after ISO 14001, aimed at:
- Lowering energy consumption and greenhouse gas emissions
- Enhancing water efficiency
- Minimizing waste sent to landfills
- Increasing environmental awareness among employees
Although our overall use of energy and water, as well as waste generation, remains modest, we continue to measure these areas routinely to better assess and manage our environmental impact.
2024 Environmental Actions and Achievements
Energy Use and Renewable Energy
Between 2023 and 2024, we achieved a 19.2% global reduction in energy consumption, including a 19.6% decrease in the U.S.
Globally, 41.3% of our total energy came from renewable sources in 2024. In the U.S., renewables accounted for 47.6% of total energy use, equivalent to 25,986.7 MWh.
We continue to identify opportunities to improve operational efficiency. In 2024, we optimized heating and lighting schedules and completed an LED retrofit for a parking lot—both of which contributed to notable energy reductions. Additionally, warmer weather at our Des Moines, Iowa headquarters reduced the need for heating, further decreasing consumption.
Of our total U.S. energy use, 57.2% came from electricity, with 83.1% of that electricity derived from renewable sources. Our high renewable share is supported by our Des Moines utility provider, whose energy mix significantly influences our annual renewable energy usage.
Water Conservation
We apply responsible water management practices that align with or exceed LEED standards for water efficiency. We implement water-saving measures wherever feasible. In 2024, our overall water consumption dropped 16.4% from 2023 levels and has declined 46.3% over the past five years.
This progress is largely due to increased rainfall in Iowa, which lessened the need for irrigation on our campus, and the sale of two properties—reducing our operational footprint.
Key Highlights:
2024 Environmental Actions and Achievements
Energy Use and Renewable Energy
Between 2023 and 2024, we achieved a 19.2% global reduction in energy consumption, including a 19.6% decrease in the U.S.
Globally, 41.3% of our total energy came from renewable sources in 2024. In the U.S., renewables accounted for 47.6% of total energy use, equivalent to 25,986.7 MWh.
We continue to identify opportunities to improve operational efficiency. In 2024, we optimized heating and lighting schedules and completed an LED retrofit for a parking lot—both of which contributed to notable energy reductions. Additionally, warmer weather at our Des Moines, Iowa headquarters reduced the need for heating, further decreasing consumption.
Of our total U.S. energy use, 57.2% came from electricity, with 83.1% of that electricity derived from renewable sources. Our high renewable share is supported by our Des Moines utility provider, whose energy mix significantly influences our annual renewable energy usage.
Water Conservation
We apply responsible water management practices that align with or exceed LEED standards for water efficiency. We implement water-saving measures wherever feasible. In 2024, our overall water consumption dropped 16.4% from 2023 levels and has declined 46.3% over the past five years.
This progress is largely due to increased rainfall in Iowa, which lessened the need for irrigation on our campus, and the sale of two properties—reducing our operational footprint.
Key Highlights:
- 47.6% of U.S. energy in 2024 from renewable sources
- 83.1% of U.S. electricity from renewable sources
- 16.4% reduction in water usage between 2023 and 2024
Waste Management and Recycling
In 2024, 69.9% of the hazardous and nonhazardous waste generated at U.S. facilities (where recycling, donations, and composting are tracked) was diverted from landfills. All hazardous waste—100%—was recycled.
We continue to make small but meaningful changes, including improved signage to guide proper waste disposal, employee-led green initiatives, and composting programs for food services. This year, we also donated steel workstation panels, which were partially recycled and contributed to our waste diversion totals.
Our K-Cup recycling program, launched at the end of 2023, achieved notable success in its first full year: 0.8 metric tons of coffee pods were recycled, and 2.3 tons of coffee grounds were composted in 2024.
We remain committed to meeting or exceeding LEED waste management standards, maintaining at least a 50% annual waste diversion rate. Despite a 50% increase in office occupancy during 2024, we continued to reduce water use and sustain our waste diversion performance.
Sustainable Buildings
We pursue LEED certification to ensure our workplaces are energy-efficient, healthy, and environmentally responsible. In Des Moines, 89.6% of our owned and occupied portfolio (by square footage) is LEED certified. With the sale of one certified property in 2024, this percentage will slightly decline in the coming year.
Looking Ahead
In 2025, our focus will remain on enhancing operational efficiency and cutting fuel use—particularly at sites with the highest emissions. We plan to expand energy-saving efforts by installing LED lighting, adding smart sensors to thermostats, and refining lighting control systems to minimize unnecessary consumption.
We also began piloting a project in late 2024 using Endotherm, an innovative additive that could improve boiler efficiency by over 10%. The initiative aims to lower natural gas demand for heating water and air in one of our headquarters buildings.
In addition, we’ll continue to refine data accuracy through better data collection, smart metering, and improved quality control. These initiatives will strengthen our ability to evaluate progress, pinpoint key reduction opportunities, and shape future sustainability strategies.
Disclaimer:
Insurance products issued by Principal National Life Insurance Co. (except in NY) and Principal Life Insurance Company®. Plan administrative services provided by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Principal Securities, Inc., member SIPC, and/or independent broker/dealers. All companies are members of the Principal Financial Group®, Des Moines, IA 50392.