PNC Financial Services Group Inc

PNC Financial Services Group Inc reported Total CO2e Emissions - Location-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 162 Kt (-9.1 /-5.3% y-o-y). Also positively, carbon intensity fell to 8.4 t (-1.7 /-16.8% y-o-y).

PNC Financial Services Group Inc's Scope 3 emissions declined to 4.9 Kt (-12 /-70.2% y-o-y). This is a higher rate of decline than over the period since 4Q'09 (-35.9% CAGR).

The company is committed to reducing Scope 1 + 2 by 75% by 2035 from a base year 2009, which translates into the estimated reduction of -3 Kt per annum over the period of FY2022 - FY2035. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.