PITTSBURGH (KDKA) – PNC is committing more than $1 billion to help end systemic racism and support the economic empowerment of African American communities.
PNC announced the commitment Thursday.
A press release says the company’s commitment includes more than $1 billion for community development financing and capital for neighborhood revitalization, consumers and small businesses.
PNC is committing more than $1 billion to help end systemic racism and support economic empowerment of African Americans and low- and moderate-income communities. Read our announcement here: https://t.co/ETaJxSj5ys pic.twitter.com/0pWNwTgcL0
— PNC News (@PNCNews) June 18, 2020
The company says it’s also giving employees up to 40 hours of paid time off every year to volunteer with “qualifying social justice and economic empowerment non-profits.”
More than $50 million in charitable support will be provided for national and local work that will help eliminate systemic racism and promote social justice.
“We are living in one of the most important civil rights movements of our time. Each of us has a role to play in combating racism and discrimination, and PNC is committed to driving real change in areas in which we can make the greatest impact,” said chairman, president and CEO William Demchak in a press release.