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Last update: 2016-06-30 15:45:32
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PNC Bank NA. is the principal subsidiary of the PNC Financial Services Group, Inc. Based in Pittsburgh, Pennsylvania.
PNC operations include a regional banking franchise operating primarily in fifteen states and the District of Colombia, specialized financial business serving companies and government entities, and leading asset management and processing businesses. PNC is the sixth largest bank by deposits in the United States and is the third lagest off-premise ATM provider.
249 Fifth Avenue, One PNC Plaza
PA 15222 Pittsburgh
William S. Demchak |
Chairman and CEO
|Annual report||CSR Report 2016|
listed on NYSE Euronext
PNC owns around 21 per cent of the shares in Black Rock (the world's largest publicly traded asset management firm)
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Voluntary initiativesPNC has committed itself to the following voluntary standards:
The corporate social responsibility report (below) of PNC Financial Services Group makes mention of the development of a mountain top removal policy in 2010, which was subsequently enhanced in 2014. Under the policy PNC will not extend credit to individual mining projects or to coal producers with 25 per cent or more of their production coming from MTR mining.
The same document makes mention of an extended due diligence procedure for the coals & minerals industry, electric & gas utilities and the oil & gas industry.
PNC also plans to to adopt a formal policy that prohibits construction financing of single coal-fired power plants, which lack the most advanced environmental control processes, such as carbon sequestration.
Barclays, ING, PNC pull back from Mountaintop Removal
In 2015, US bank PNC, UK bank Barclays and Dutch bank ING all announced new commitments to cut finance for the controversial practice of mountaintop removal (MTR) coal mining. These banks join JPMorgan Chase, Wells Fargo, RBS, BNP Paribas, and UBS - banks that have already committed to cut ties with firms that specialize in mountaintop removal.