InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of October 2022, PNC is a member of the American Bankers Association, and a member of the American Bankers Association Climate Task Force and ESG Working Group.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of October 2022, PNC is a member of the American Bankers Association, and a member of the American Bankers Association Climate Task Force and ESG Working Group.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Charlotte McLaughlin is on the board of SIFMA.
Charlotte McLaughlin (PNC Capital Markets President and CEO)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
PNC Capital Markets is a member of SIFMA.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Charlotte McLaughlin is on the board of SIFMA.
Charlotte McLaughlin (PNC Capital Markets President and CEO)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
PNC Capital Markets is a member of SIFMA.
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Open PDF file of Data Source
Sustainable Finance Lobbying Overview: PNC Financial Services (PNC) appears to have had little engagement with sustainable finance policy, although its CEO Bill Demchak has outlined some largely negative positions on sustainable finance policy in public statements.
Top-Line Messaging on Sustainable Finance Policy: PNC has recognized the risks climate change poses to the financial system, but it is unclear whether it supports systemic reforms to address these risks. In a June 2022 interview, CEO Bill Demchak emphasized the need for action in the real economy to address climate change, suggesting that the banking system was the wrong place for these efforts. PNC has stated support for the transition to “low-carbon” and “Net Zero” economies, but in September 2022 CEO Bill Demchak emphasized the threat of energy poverty in making this transition. In its 2020 TCFD Report PNC mentioned engaging with policymakers on sustainable finance policies, but details of this engagement are unclear.
Position on Regulated Corporate ESG Disclosure: At an industry conference in June 2022, CEO Bill Demchak expressed opposition to the SEC’s proposed climate disclosure rule. In testimony to Congress in September 2022, Demchak again outlined objections to the rule, including the proposed Scope 3 emissions disclosure requirements and proposed financial statement provisions
Position on Integrating ESG into Risk Management/Prudential Regulation: In the same congressional testimony, Demchak stated support for the Office of the Comptroller of the Currency’s guidance on climate-related financial risk management for banks. However, Demchak objected to climate stress testing at the June 2022 industry conference.
Industry Association Governance: PNC lacks a dedicated, clearly identifiable disclosure of its sustainable finance policy positions and engagement activities. The positions outlined in Demchak’s congressional testimony are absent from the PNC website. PNC has disclosed some, but not all of its memberships to industry associations, and has not given details of indirect influence governance.