Prudential Financial Inc. said it plans to commit more than $180 million through 2025 to support the opportunity youth — approximately 350 million people aged 15-29 who lack access to school, training or regular jobs — with about a third of the investment going toward the Newark area.
“Businesses like ours have a role to play in ensuring that global economic progress benefits all members of tomorrow’s workforce,” Charles Lowrey, Prudential chairman and CEO, said. “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 said its investment will help young people around the globe gain skills to compete for and succeed in quality jobs by supporting dedicated partnerships through grants, corporate contributions and impact investments.
“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,” Lata Reddy, senior vice president of diversity, inclusion and impact, and chair and president of The Prudential Foundation, said. “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.”