Banking with values

The Dec. 27 article “Power Plays Set PNC Up for Big 2021” highlights how PNC has been elevated to a “national player.” Although many Pittsburghers are account holders or shareholders, few know where PNC invests its money.

Although PNC sees itself as a benefactor to the community, in some cases to whom it loans its money is anything but. In the past after constituent pressure, PNC divested from mountaintop removal coal mining (2015) and ended investments in private prisons (2019). While these are laudable, PNC remains implacable to ending its investments in the nuclear weapons industry. While nuclear weapons remain an existential threat to our planet, PNC loaned over $1.6 billion to eight nuclear weapons manufacturers.

PNC should divest from such financial commitments and adopt policies never to loan money to, or in any way financially support, corporations involved in the manufacture or sale of nuclear weapons. Make a New Year’s resolution to use a bank that reflects your values.

Furthermore, on Jan. 22, the U.N. Treaty on the Prohibition of Nuclear Weapons will go into full effect (the U.S. has yet to sign on). Make a New Year’s resolution to ask Sens. Bob Casey, D-Pa., and Pat Toomey, RPa., and Reps. Mike Doyle, DForest Hills, or Conor Lamb, DMt. Lebanon, to co-sponsor the first bill introduced in the new Congress that supports the U.S. signing this treaty.

JO SCHLESINGER ALLAN WILLINGER

Edgewood The writers are members of Stop Banking the Bomb and Remembering Hiroshima, Imagining Peace.