Joyce Rothermel sent a letter to the editor of the Pittsburgh Post Gazette calling on PNC to be a Moral And Socially Responsible Leader. It was published on June 13, 2021.
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Father Paul Dordal explains how he came to found Stop Banking the Bomb Pittsburgh. This webinar was hosted by Fr. Bernie Survil who recommends: "skipping the first five minutes or so. Once the interviewee, Paul Dordal, get's into his story as an adult, pastor, and then chaplain in the Iraq War, his presentation is attention claiming. After the first 15 minutes he gets into his founding Stop Banking the Bomb Pittsburgh."
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Joyce Rothermel statement to PNC Board and Shareholders April 27, 2021
Good morning members of the Board and shareholders: My name is Joyce Rothermel and I am a representative of the Stop Banking the Bomb campaign. I am here to move proposal 4 on behalf of the Sisters of St. Joseph of Brentwood and the Sisters of the Humility of Mary, Villa Maria, PA. As Catholic religious congregations, in a society struggling with excessive violence, the sisters assert that there is a clear moral responsibility for PNC and its investors to acknowledge the direct role that financing of nuclear weapons plays in perpetuating human rights harms in war and conflict, and that all actors must contribute to appropriate remedies. The most severe human rights impacts of the nuclear weapons companies financed by PNC are irremediable and result in the loss of life. This proposal is offered, supported by strong legal and financial risk assessments – to PNC and its shareholders as an invitation to deeply examine the business model in the context of its human rights responsibilities, so that leadership and vision be advanced to end the company’s financing that contributes to death and destruction, and instead advance a purpose to contribute to a more positive vision of society. |
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Using the words of Irish folk singer and peacemaker, Tommy Sands in refuting thewords of an earlier anti-war song, sings, “The answer’s not blowing in the wind, my friends, the answer stares you in the eyes.”
Since 1945, the terror of nuclear weapons has been with us and the answer is Not to Build Them; Not to have them.
As a resident of Pittsburgh, PA, I am concerned that our local bank is complicit in financing nuclear weapons. PNC lends over $1.6 billion to companies that manufacture or produce nuclear weapons. And since Jan. 22, of this year, nuclear weapons are illegal under international law.
We believe that support for this proposal is warranted for three main reasons:
We say to PNC and all financial institutions and governments who do to STOP BANKING THE BOMB and encourage all shareholders to support proposal 4.
Joyce Rothermel founded the Greater Pittsburgh Food Bank. Although now retired from that, she is very active in the two issues which she considers of highest importance: Nuclear disarmament and Climate Change.
Since 1945, the terror of nuclear weapons has been with us and the answer is Not to Build Them; Not to have them.
As a resident of Pittsburgh, PA, I am concerned that our local bank is complicit in financing nuclear weapons. PNC lends over $1.6 billion to companies that manufacture or produce nuclear weapons. And since Jan. 22, of this year, nuclear weapons are illegal under international law.
We believe that support for this proposal is warranted for three main reasons:
- First, PNC’s risk management, screens, and due diligence processes lag behind peers, and do not explicitly address the risks associated with financing nuclear weapons
- Second, the Board’s conclusion that financing nuclear weapons does not present significant enough risks to stop, fails to account for the entry into force of the Treaty on the Prohibition of Nuclear Weapons, which will likely result in increasing reputational and legal risk. The Treaty establishes a new normative framework on nuclear weapons and has inspired other financial institutions to exit financial relationships with nuclear weapon producers
- Lastly, many of the companies categorized as “nuclear companies” that PNC finances do not have adequate systems in place to fulfill their own human rights responsibilities and present reputational and legal risks. Last week, 30% of Lockheed Martin’s shareholders voted for improved human rights disclosure.
We say to PNC and all financial institutions and governments who do to STOP BANKING THE BOMB and encourage all shareholders to support proposal 4.
Joyce Rothermel founded the Greater Pittsburgh Food Bank. Although now retired from that, she is very active in the two issues which she considers of highest importance: Nuclear disarmament and Climate Change.
David Hughes writes to PNC Chairman and Post-Gazette Editor
In his letter to the editor David calls on PNC to "do the right thing" and in his letter to the Chairman he again explains why he is divesting himself from PNC and calls out specific investments PNC has made that motivated him to leave.
In his letter to the editor David calls on PNC to "do the right thing" and in his letter to the Chairman he again explains why he is divesting himself from PNC and calls out specific investments PNC has made that motivated him to leave.
Catholic Priests urge PNC to divest
On June 30, 2020 the Association of US Catholic Priests (AUSCP) wrote to PNC Chair William Demchak praying that he would "shift PNC loans and other financial instruments away from nuclear weapons producing corporations toward those which provide goods and services useful for humanity." They also stated they are PNC members and congratulated the company for divesting from businesses engaged in 'mountain-top removal.'
On June 30, 2020 the Association of US Catholic Priests (AUSCP) wrote to PNC Chair William Demchak praying that he would "shift PNC loans and other financial instruments away from nuclear weapons producing corporations toward those which provide goods and services useful for humanity." They also stated they are PNC members and congratulated the company for divesting from businesses engaged in 'mountain-top removal.'