SOURCE: PNC Financial Services GroupDESCRIPTION:
Q: What do you view as PNC’s greatest CSR challenges and opportunities?
A: We must make lending decisions in which we effectively balance the needs of our customers and prospective customers with the interests of our other stakeholders. Determining which industries or companies within a particular industry we should lend to isn’t always easy. Another challenge is balancing the long-term payback of CSR with Wall Street’s focus on the next quarter.
Q: As a Board member, how do you ensure that CSR is being addressed strategically at a particular company or organization?
A: CSR initiatives should be reviewed with the Board of Directors, so I want to see them front and center on the Board’s agenda. PNC’s commitment to corporate responsibility is part of the reason why I joined PNC’s Board in the first place. Recently, I attended a PNC Board dinner that featured a presentation from Sally McCrady, director of Community Affairs, about Grow Up Great. This is just one example of PNC’s CSR commitment that warrants—and is receiving—attention from the Board. Equally important are PNC’s environmental lending practices, which Mike Lyons, head of Corporate & Institutional Banking, has incorporated into recent Board discussions.
KEYWORDS: Sustainable Finance & Socially Responsible Investment, CSR Report, CSR challenges, pnc financial, PNC’s environmental lending practices, responsible business