Effort to stop banks financing nuclear weapons industry

PNC shareholders defeat proposal on nuclear weapons lending for second time
PATRICIA SABATINI, Pittsburgh Post-Gazette, 27 Apr 22,
Like the threat of nuclear war, the “Stop Banking the Bomb” campaign aimed at getting banks to stop financing companies involved in the nuclear weapons industry refuses to go away.
For the second year in a row, a proposal backed by a group opposed to such financing was defeated at PNC Financial Services Group’s annual shareholders meeting Wednesday.
Presented by the Sisters of St. Joseph of Brentwood in New York, the proposal asked that Pittsburgh-based PNC issue a report on the risks associated with lending to companies involved in making nuclear weapons.
The campaign has been targeting the bank for several years, demonstrating outside of PNC offices and shareholder meetings.
“PNC faces significant legal, financial and reputational risks if it continues to be linked to the nuclear weapons industry,” according to the proposal.
In addition, it said, the bank has a moral responsibility to address “adverse human rights impacts that it may cause, contribute to, or be directly linked to its business.”
PNC’s board recommended voting against the proposal, saying a review of the bank’s lending business concluded it did not pose a “material credit, legal or reputational risk to PNC,” and was properly vetted for potential environmental and human rights risks……………………
The proposal was defeated by a majority of shareholders. The exact vote count was not immediately available. ………………. https://www.post-gazette.com/business/pittsburgh-company-news/2022/04/27/pnc-financial-services-group-shareholders-nuclear-weapons-lending-banking-bomb/stories/202204270137
No comments yet.
-
Archives
- May 2022 (221)
- April 2022 (378)
- March 2022 (405)
- February 2022 (333)
- January 2022 (422)
- December 2021 (299)
- November 2021 (400)
- October 2021 (346)
- September 2021 (291)
- August 2021 (291)
- July 2021 (257)
- June 2021 (210)
-
Categories
- 1
- 1 NUCLEAR ISSUES
- business and costs
- climate change
- culture and arts
- ENERGY
- environment
- health
- history
- indigenous issues
- Legal
- marketing of nuclear
- media
- opposition to nuclear
- PERSONAL STORIES
- politics
- politics international
- Religion and ethics
- safety
- secrets,lies and civil liberties
- spinbuster
- technology
- Uranium
- wastes
- weapons and war
- Women
- 2 WORLD
- ACTION
- AFRICA
- AUSTRALIA
- Christina's notes
- Christina's themes
- culture and arts
- Fuk 2022
- Fukushima 2017
- Fukushima 2018
- fukushima 2019
- Fukushima 2020
- Fukushima 2021
- general
- global warming
- Humour (God we need it)
- Nuclear
- RARE EARTHS
- Reference
- resources – print
- Resources -audiovicual
- World
- World Nuclear
- YouTube
-
RSS
Entries RSS
Comments RSS
Leave a Reply