GlobalData offers a comprehensive analysis of PNC Financial, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on PNC Financial’s ESG performance. GlobalData’s company profile on PNC Financial offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
PNC Financial has set a goal to achieve emissions goals and purchase 100% renewable electricity by 2025. PNC Financial's latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times.
PNC Financial has set 2035 reduction targets for energy and water use, and carbon emissions. The company has disclosed its financed emissions and has become a member of the Partnership for Carbon Accounting Financials. The company has taken steps to reduce its emissions, including investing in green building and energy-efficiency projects, and engaging with clients seeking to finance their own green initiatives.
The company's sustainable finance pillars include renewable energy, energy efficiency, green building, brownfield remediation, sustainable transportation, waste management and pollution control, water quality and conservation, and air quality. The "4+1" Climate Action Strategy of PNC was recently formalized. The plan is intended to put the business on a course for financing the shift to a low-carbon economy. Their strategy is anticipated to be fluid and iterative, allowing for essential course adjustments in response to evolving political, technological, and regulatory developments. The company has also published a Green Bond Impact Report. In 2021, the company reported Scope 1 emissions at 27,799 tones CO₂ equivalent and Scope 2 emissions at 133,719 tones CO₂ equivalent (market based) and 4,903 tones CO₂ equivalent for Scope 3 emissions.
In conclusion, the company recognizes that environmental issues, including climate change, are impacting its business, clients, and communities, and has identified climate change as a primary risk area of focus. The company's ESG and Sustainable Finance teams regularly engage with stakeholders to discuss progress related to its climate change strategy and act in an advisory capacity for clients seeking to finance their own green initiatives.