PNC Sustainability Profile
PNC Financial Services Group, commonly known as PNC, is a leading financial institution headquartered in the United States, with a significant presence in major operational regions including the Midwest, Mid-Atlantic, and Southeast. Founded in 1845, PNC has evolved into a diversified financial services provider, offering a wide range of products and services such as retail banking, corporate banking, asset management, and mortgage financing. Renowned for its innovative approach, PNC stands out with unique offerings like its Virtual Wallet, which integrates banking and budgeting tools. The company has consistently maintained a strong market position, recognised for its commitment to customer service and community engagement. With a rich history marked by key milestones, PNC continues to be a trusted partner for individuals and businesses alike, driving financial success across the nation.
DitchCarbon Score
How does PNC's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
PNC's score of 72 is higher than 84% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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PNC's reported carbon emissions
In 2024, PNC reported total carbon emissions of approximately 116,000,000 kg CO2e, comprising 28,268,000 kg CO2e from Scope 1, 6,719,000 kg CO2e from Scope 2, and 79,085,000 kg CO2e from Scope 3 emissions. This reflects a commitment to reducing carbon emissions and energy use by 75% compared to a 2009 baseline by the year 2035 for both Scope 1 and Scope 2 emissions. In 2023, PNC's total emissions were approximately 109,000,000 kg CO2e, with Scope 1 emissions at 29,438,000 kg CO2e, Scope 2 emissions at 75,649,000 kg CO2e, and Scope 3 emissions at 58,728,000 kg CO2e. The company aims to achieve net zero emissions by 2025, with a target of 100% renewable purchased electricity by the same year. PNC has set additional targets, including an 80% reduction in carbon emissions for Scopes 1 and 2 by 2030 and a 30% reduction in energy use by 2030. These initiatives demonstrate PNC's proactive approach to addressing climate change and its commitment to sustainability within the financial services sector.
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| 2009 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 48,962,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 431,243,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | 172,533,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is PNC's Industry?
How Carbon Intensive is PNC's Location?
PNC's Scope 3 Categories Breakdown
PNC's Scope 3 emissions, which increased by 35% last year and decreased by approximately 54% since 2009, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 69% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 61% of Scope 3 emissions.
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PNC's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
PNC has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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