Press release
Principal Financial Group® Announces Global Financial Inclusion Index
Inaugural study examines key drivers shaping financial inclusion in 40+ markets, provides actionable insights to address inclusion gaps and challenges DES
About this update from Principal Financial Group Inc
[{"type":"text","content":"\nInaugural study examines key drivers shaping financial inclusion in 40+ markets, provides actionable insights to address inclusion gaps and challenges\n\n DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Financial Group® today announced it will launch the Global Financial Inclusion Index (“Index”) in collaboration with the Centre for Economics and Business Research (Cebr). The inaugural Index and its analysis will uncover key drivers shaping financial inclusion and exclusion across governments, employers, and the financial services industry in 40+ markets. The report, scheduled for September, will assess how these systems promote financial inclusion, as well as examine global consumer perspectives on how secure individuals feel. The goal of the Index is to fuel actionable insights that can help improve financial inclusion now and in the future.\n\nFinancial insecurity affects billions of people around the globe\n\nGlobal financial insecurity represents one of the world’s greatest challenges and opportunities. Pre-pandemic, 1.7 billion people globally [1] were reportedly not served by a bank or financial institution. The effects of the pandemic brought increased rates of poverty and widened the wealth and income gap, [2] further exacerbated by the recent sharp spike in energy prices.\n\n“Financial inclusion is at the foundation of global economic progress,” said Dan Houston, chairman, president, and CEO of Principal®. “When people are excluded from the financial system it hinders their ability to earn, prepare for and recover from crises, as well as build for the future. Our Global Financial Inclusion Index will provide a clear, measurable view of financial inclusion so we can influence change and help more people and businesses have greater access to financial security.”\n\nA commitment to making financial security more accessible\n\nPrincipal is committed to long-term, responsible, and sustainable actions to create economic opportunity for generations to come. As part of the Principal environmental, social, and governance (ESG) strategy, largely aligned to the UN Sustainable Development Goals, the company has outlined measurable commitments to advance inclusive products, services, and communities to meet more individuals and businesses where they are in their financial journey. In addition, The Principal Financial Group Foundat...