News Release Details
Financial Press Release
PNC Meets 30 Percent Carbon Reduction Goal Ahead Of Plan
"As we have long been committed to these goals and worked hard every year to make continuous improvement, this progress is especially meaningful," said
PNC's 2016 Corporate Social Responsibility (CSR) report, which was produced in accordance with the Global Reporting Initiative, the world's most widely-adopted CSR reporting framework, outlines the bank's environmental performance, as well as its efforts to consider the best interests of all of its stakeholders. Specifically, it highlights how PNC's focus on operating with integrity allows the company to reduce its environmental impact, strengthen communities, help customers achieve their goals, and empower employees to grow, all while pursuing the highest standard of ethical business practices and risk management.
"Our commitment to corporate social responsibility is the very embodiment of a philosophy that shapes every decision impacting our customers, communities, employees and shareholders and has never been more important," said PNC Chairman, President and Chief Executive Officer
Below are several 2016 highlights that demonstrate this commitment.
Environmentally Friendly Business Practices
- PNC's net-zero energy branch in
Fort Lauderdale, Florida, was recognized with the International Living Future Institute'sNet-Zero Energy Certification.
- In 2015 and 2016, PNC invested more than
$5 billionin sustainable financing, including capital for energy efficient and renewable energy projects.
- PNC became a signatory to the Green Bond Principles, guidelines managed by the
International Capital Markets Associationthat provide best practices for underwriting and issuing green bonds.
Environmental and Social Risk Management
- PNC now prohibits new lending to coal producers with anything more than a de minimis exposure to mountaintop removal (MTR) mining.
- PNC introduced a human rights due diligence process focused on select industries with operations that can significantly impact local communities and their residents.
- PNC's total charitable giving in support of education, the arts, and health and human services, among other areas, exceeded
- PNC provided
$2.4 billionin financing that benefitted low- and moderate-income populations and communities.
- In 2016, PNC was recognized by Fortune as one of The 20 Most Generous Companies of the Fortune 500.
- PNC installed Instant Card Issuance printers at 87 percent of branches and further enhanced customer security by upgrading its ATM fleet to accept EMV or "chip" cards.
- PNC launched Fundamentos de la Administración del Dinero, a Spanish version of PNC's Foundations of Money Management, to help Spanish-speaking customers improve their financial literacy and wellness.
- For the second consecutive year, PNC presented a mortgage-free home to a military veteran who was injured during combat operations.
Diversity and Inclusion
- PNC enhanced its maternity and parental leave benefits by granting eligible new parents of any gender six weeks of fully paid leave for birth or adoption. It also grants eligible birth mothers an additional 10 weeks of fully paid maternity leave.
- For the fourth consecutive year, the Human Rights Campaign (HRC) named PNC among the Best Places to Work for LGBT Equality.
- PNC was accepted into
Working Mother magazine's100 Best Companies Hall of Famefor achieving 15 years as a Working Mother 100 Best Company.
In addition to highlighting key progress, policies and initiatives, PNC's CSR report features Q&As with several company executives, including Board member
For more information about PNC's 2016 CSR report and to view PNC's CSR video, please visit www.pnc.com/csr.
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