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Daily CSR

Daily CSR
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PNC’s Green Bond Is A Step Towards ‘Low-Carbon Economy’


Proceedings from PNC’s first green bond will fund eligible projects that help in the transition to low-carbon economy.

Dailycsr.com – 27 November 2019 – On November 1, 2019, the PNC Financial Services Group, Inc. made an announcement to close down its “inaugural Green Bond issuance”, while the proceeds of it will go into fund “eligible projects” for promoting “a transition to a low-carbon economy and offer sustainability benefits across three categories” that are aligned with SDGs such as “renewable energy, energy efficiency and green buildings”.
In the words of the Executive Vice-President as well as the Head of “PNC’s Corporate & Institutional Banking and Asset Management Group”, Mike Lyons:
“We recognize that environmental issues, including climate change, are impacting our business, our clients and our communities. This green bond issuance is a natural progression of our efforts to balance financial priorities and environmental considerations in support of the transition to a low carbon economy.”
While, the company’s Executive Vice-President as well as PNC Treasurer, Randall King added:
“We are proud to issue our first green bond and contribute to the development of this important market”.
The Green Bond has been designed to support PNC’s “existing initiatives” besides providing opportunity for increasing the “support for a future low-carbon economy”. Sustainalytics is leader in providing independent “ESG and corporate governance research and ratings”, while it has found “PNC’s Green Bond Framework” to be consistent with the present “Green Bond Principles”, under the International Capital Market Association’s publication, after verifying and reviewing the same.
You can learn more about “PNC’s Green Bond” in its “Green Bond page” which appears in the “Corporate Social Responsibility section of PNC’s corporate website”; the link for the same is mentioned below: