PNC

BBVA USA, Harris Williams
Pennsylvania
Banks

Corprate Bias Ratings

Risk Level:

Rating - Danger
High Risk

PNC Bank, owner of BBVA USA, has stopped lending to private prisons due to controversy surrounding former President Trump's immigration policies. PNC also stopped PAC contributions to a U.S. Congressman for his religious views regarding LGBTQ+ policy. By complying with Human Rights Campaign’s controversial demands, PNC Bank increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. PNC Bank uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. The bank funds multiple LGBTQ causes and organizations. PNC has pledged over $1 billion to end "systemic racism" and is a corporate partner of the Human Rights Campaign (HRC). The company is committed to carbon neutrality by 2040. PNC discriminates against religious organizations in its charitable giving and does not provide its employees with protections against viewpoint discrimination. For these reasons, PNC Bank receives a High Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

PNC Bank received a score of 95 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2). PNC Bank stopped lending to private prisons in 2019 after controversy over former President Trump’s immigration policies (3)(4). PNC does not fund mining for coal operations (5). PNC shut down an account with a news aggregator started by Donald Trump Jr., but later reopened the account citing a “good faith error” (6). BBVA will not finance oil and gas exploration, drilling, or extraction projects (7). BBVA will not finance companies engaged in “coal-related activities” by 2030 “in developed countries (8).” BBVA did not terminate connections with a law firm that some civil rights activists view as racist (9).

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

PNC Bank’s HRC CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2). PNC’s charitable donations focus on early childhood education and economic development (3). However, PNC Bank will not support “religious organizations, except for non-sectarian activities.” The bank has donated to faith-based charities. (4). BBVA does not give to religious organizations, except for non-sectarian activities (5).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

PNC Bank’s HRC 2023 CEI rating indicates the company provides gender transition guidelines for its employees and a specific benefits guide with a comprehensive explanation of transgender services funded by the company (1)(2). PNC does not provide viewpoint protections for its employees (3).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

PNC Bank’s HRC 2023 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy (1)(2). By doing so, the company risks dividing employees, alienating customers and harming shareholders. PNC Bank supports the Equality Act (3)(4) The company opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces (5)(6). PNC and BBVA opposed the Florida Parental Rights in Education Act, which would prohibit teaching gender identity and sexual orientation to kids in K-3rd grade (7). PNC Bank offers a training course regarding unconscious bias and “microaggressions” that 99% of employees have completed; it is unclear whether this program is officially required (8)(9). The company is a Ceres Network Member and a PCAF member, committed to net zero carbon emissions by 2040 (10)(11)(12). BBVA announced it will align its exposure to the oil and gas sector in accordance with a 2050 net zero emissions target (13). BBVA’s CEO Javier Rodriguez Soler signed the CEO Action and Diversity Pledge (14). BBVA is a member of the Business Coalition for the Equality Act (15). BBVA supports the UN SDGs, which include a commitment to carbon neutrality by 2050 (16). BBVA joined the World Economic Forum’s ESG Initiative (17). BBVA teaches its employees about unconscious bias (18). BBVA joined an amicus brief with the Human Rights Campaign to support the City of Philadelphia in Fulton v. City of Philadelphia (19). BBVA opposed legislation that the HRC views as “anti-LGBT” in Alabama, Iowa, Indiana, and across the country (20)(21)(22). BBVA CEO released a public statement following the death of George Floyd (23). BBVA supported Congressional action on criminal justice reform, following the Black Lives Matter riots of 2020 (24). BBVA is a member of the Bloomberg Gender-Equality Index (25). BBVA Group is a part of the Net Zero Banking Alliance and the Principles for Responsible Banking group (26). PNC held a guest lecture on “The Intersection of Race, Gender, and Orientation” as part of its Pride 2023 celebrations (27).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

PNC Bank’s HRC 2023 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology (1)(2). By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders. PNC is a bronze corporate sponsor of the HRC (3). PNC has a gift-matching program specifically intended for social justice causes and has funded the Urban League (4). PNC has also committed over $1 billion to “end systemic racism,” though it did not fully specify which nonprofit organizations it would fund  (5)(6). PNC is a brass sponsor of Out & Equal and PNC and BBVA are corporate partners of the National LGBT Chamber of Commerce (7)(8). PNC has funded various Planned Parenthood locations (9). BBVA is a Foundation Partner with Equality Magazine (10). BBVA is a Corporate Partner with the National LGBT Chamber of Commerce (11).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

PNC Bank’s HRC 2023 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives (1)(2). By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders. PNC has donated to the Equality PAC (3). PNC also withdrew PAC contributions to a congressman due to his LGBTQ-related policy stances (4).

All links were last accessed and all information was updated on:
February 22, 2024

Company reports are intended for educational use only. Full Disclaimer

Voting History

Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/25/22SocialJohn CheveddenReport on Lobbying Payments and PolicyAgainst36.58%
4/27/22SocialSisters of St. Joseph of BrentwoodReport on Risk Mgmt. & the Nuclear Weapons IndustryAgainst7.69%

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