EPA RECOGNIZES PNC BANK FOR LEADING GREEN POWER USE

Rhea-AI Summary

PNC Bank has joined the U.S. EPA's Green Power Partnership, committing to renewable energy initiatives. The bank uses over 81 million kWh of green power annually, fulfilling 25% of its electricity needs, equivalent to the annual consumption of 8,000 American homes. PNC aims to source 100% renewable electricity by 2025 through various strategies. EPA recognizes PNC's efforts in reducing greenhouse gas emissions and improving air quality, supporting a broader environmental finance commitment of $20 billion. This effort aligns with PNC's climate action strategy and corporate responsibility goals.

Positive

• PNC Bank's green power usage of over 81 million kWh annually meets 25% of its electricity needs.
• The bank is committed to achieving 100% renewable purchased electricity by 2025.
• EPA recognition highlights PNC's leadership in reducing emissions and improving air quality.
• PNC's commitment includes a significant financial pledge of $20 billion to support environmental finance.

Negative

• None.

PITTSBURGH, Jan. 20, 2022 /PRNewswire/ -- PNC Bank, National Association, is pleased to announce its membership to the U.S. Environmental Protection Agency's Green Power Partnership.

By choosing green power, PNC Bank is helping advance the voluntary market for green power and development of those sources; and is using more than 81 million kilowatt-hours (kWh) of green power annually, which is enough green power to meet 25% of the organization's electricity use. According to the U.S. EPA, PNC's green power use is equivalent to the electricity use of nearly 8,000 average American homes annually.

"EPA applauds PNC Bank for its leadership position in the green power marketplace," said James Critchfield, program manager of EPA's Green Power Partnership. "PNC is an excellent example for other organizations in reducing greenhouse gas emissions through green power investment and use."

PNC Bank committed to RE100 in 2019 to source 100% renewable purchased electricity by 2025 and will reach this goal through a multi-faceted approach inclusive of power purchase agreements, renewable energy credits and on-site generation.

"At PNC, we strive to be good stewards of the environment, not only because it is the right thing to do, but because it is essential to supporting a high quality of life for our employees, customers and communities," said Lora Phillips, VP and director of PNC's Environmental, Social and Governance practice. "Our commitments to operational sustainability are a critical component of our overall climate action strategy."

"We are proud to be recognized by the U.S. Environmental Protection Agency for our green power usage and to contribute to a reduction in air pollution while lowering our emissions footprint," said Kate Zettl, VP and Energy manager at PNC Bank. "We are making great progress to achieve our 100% renewable purchased electricity target by 2025 and encourage other companies to consider green power as an affordable and accessible choice."

By moving the needle in the voluntary green power market, PNC Bank and other Green Power Partners are helping to reduce the negative health impacts of air emissions including those related to ozone, fine particles, acid rain and regional haze.

PNC holds longstanding commitments to reduce its environmental impact, finance the transition to a low carbon economy and leverage its resources to move all forward financially. In August the company pledged $20 billion in support of environmental finance and earlier this year joined the Partnership for Carbon Accounting Financials. The company also released its first Task Force for Climate-related Financial Disclosures (TCFD) report in Aug. 2021, which focuses on PNC's climate risk management strategy. For full detail of PNC's ESG commitments, refer to the 2020 PNC Corporate Responsibility Report.

About EPA's Green Power Partnership
The Green Power Partnership is a partnership program that helps increase green power use among U.S. organizations to advance the American market for green power and development of those sources as a way to reduce air pollution and other environmental impacts associated with electricity use. In 2020, the Partnership had more than 700 Partners voluntarily using nearly 70 billion kilowatt-hours of green power annually. Partners include a wide variety of leading organizations such as Fortune 500® companies; small and medium sized businesses; local, state, and federal governments; and colleges and universities. For additional information, please visit www.epa.gov/greenpower.

About PNC Bank
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

For More Information
PNC Media Relations
(412) 762-4550
media.relations@pnc.com 

View original content:https://www.prnewswire.com/news-releases/epa-recognizes-pnc-bank-for-leading-green-power-use-301465099.html

SOURCE PNC Bank