PNC Financial Services Group mobilised USD 6.11 billion in environmental financing during 2024, according to the company's 2024 Corporate Responsibility Report. The annual deployment brings the Pittsburgh-based bank's cumulative total close to its USD 30 billion environmental finance pledge, which PNC expects to satisfy by the end of 2025. The figures were communicated by PNC's Chief Corporate Responsibility Officer in a statement accompanying the report's publication.
The report also covers PNC's Community Benefits Plan, a multi-year commitment to direct lending, investment, and services toward low- and moderate-income communities, small businesses, and economic development initiatives. The bank deployed USD 28.5 billion of its USD 88 billion Community Benefits Plan in 2024, and cumulative deployment from 2022 through 2024 reached USD 85.5 billion, leaving the USD 88 billion target within reach in the final year of the four-year plan.
OPERATIONAL FOOTPRINT
The report also covers PNC's operational emissions and its progress towards sourcing 100 per cent renewable energy for purchased electricity by the end of 2025.
CLIMATE SOLUTIONS PARTNER PROGRAMME
Among the new initiatives disclosed in the 2024 Corporate Responsibility Report is the launch of PNC's Climate Solutions Partner programme. The skill-building programme educates PNC employees on the bank's Climate Action Strategy and enables front-line employees to better support customers as they develop and work through their own climate goals and plans.