shareholder proposal · 2021
Sisters of St. Joseph of Brentwood at The PNC Financial Services Group, Inc.
Issue a report assessing how effective the bank's Environmental and Social Risk Management systems are at managing the risks of lending to, investing in and financing the nuclear weapons industry, covering existing financing and its human rights impacts, the legal, financial, regulatory and reputational risks, and whether and how PNC plans to reduce that exposure.
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What happened
Result: 7.95 percent in favor at the April 27, 2021 annual meeting: 26,540,293 for, 307,230,915 against, 6,159,791 abstentions and 34,770,252 broker non-votes. It was item 4 on the ballot and was not approved. Investor Advocates for Social Justice reported it as 7.9 percent.
Who is involved
- Sisters of St. Joseph of Brentwood filer
- Sisters of the Humility of Mary co-filer
- PNC Financial Services company
What this campaign is about
- Reduce nuclear weapons program spending by $2 billion Helpful · Common Ground of the American People