Prudential Financial has announced a commitment of more than $180 million to support "opportunity youth" gain the skills they need to compete for and succeed in quality jobs. According to Prudential, the commitment, which extends through 2025, is the largest ever private-sector investment in opportunity youth, who number some three hundred and fifty million worldwide.
“Businesses like ours have a role to play in ensuring that global economic progress benefits all members of tomorrow’s workforce,” said Prudential Chairman and CEO Charles Lowrey. “Our goal is to improve young people’s lives by creating pathways for them to achieve financial wellness, strengthen their communities and ultimately help drive the global economy.”
Prudential’s investment will help young people across the globe gain the right skills to compete for and succeed in quality jobs. This population segment, which accounts for 350 million people worldwide, represents untapped potential for the future workforce. The company will support dedicated partnerships through grants, corporate contributions, and impact investments to improve financial security for youth in more than 70 countries.
“We’ve seen firsthand from our work with partners around the world the positive ripple effect that supporting youth in this way has on local communities,” said Lata Reddy, senior vice president of Diversity, Inclusion and Impact, and chair and president of The Prudential Foundation. “Integrating this population into the workforce will drive revenue growth for businesses and the global economy. With the right skills and training, opportunity youth can be both an engine of growth and a catalyst for positive social change.”
Prudential has a long history of investing in opportunity youth, committing more than $50 million in impact investments and philanthropic support to partner organizations over the last two decades. One example of this is the company’s initiative with its real estate investment arm, PGIM Real Estate – one of the largest real estate investment managers in the world – and the work with its longtime partner YouthBuild, which focuses on helping low-income young people acquire the skills needed for construction jobs.