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 85% 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 28,268,000 kg CO2e for Scope 1, 6,719,000 kg CO2e for Scope 2 (market-based), and 79,085,000 kg CO2e for Scope 3 emissions. This reflects a decrease in Scope 1 emissions from 29,438,000 kg CO2e in 2023, and a reduction in Scope 2 emissions from 75,649,000 kg CO2e in the same year. The company has set ambitious climate commitments, aiming for net zero emissions by 2025 for both Scope 1 and Scope 2 emissions. Additionally, PNC plans to achieve 100% renewable purchased electricity by 2025 and aims for an 80% reduction in carbon emissions for Scopes 1 and 2 by 2030, compared to 2022 levels. PNC's Scope 3 emissions, which include significant contributions from business travel (21,379,000 kg CO2e) and employee commuting (48,553,000 kg CO2e), highlight the importance of addressing indirect emissions in their overall strategy. The company is also targeting a 30% reduction in energy use by 2030. These commitments and reductions are part of PNC's broader sustainability strategy, which is aligned with industry standards and reflects a proactive approach to climate change mitigation. The emissions data and targets are sourced from The PNC Financial Services Group, Inc., with no cascaded data from parent companies.
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 23,767,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 112,544,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | 16,467,000 | 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 increased by approximately 380% since 2020, 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.
Top Scope 3 Categories
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.
