Publishes 2021 Environmental, Social and Governance Report
Published 07-01-22
Submitted by Fifth Third Bancorp
CINCINNATI, July 1, 2022 /CSRwire/ - Building upon its progress in leading the transition to a sustainable and inclusive future for all, Fifth Third today announced a new $100 billion environmental and social finance target to be achieved through 2030.
The new target is an expansion of the Bank’s original $8 billion sustainable finance goal, which was set in 2020. That goal was focused on renewable energy and was recently achieved nearly three years ahead of schedule. Governed by the Fifth Third Environmental and Social Finance Framework, the new target has an expanded scope to include additional environmental eligibility criteria as well as social eligibility criteria to better reflect Fifth Third’s overall ESG priorities.
“We have a purpose-driven culture at Fifth Third,” said Tim Spence, president of Fifth Third Bancorp and incoming CEO effective July 5. “Everything we do, including setting ambitious finance targets and pushing to make progress in our ESG areas of focus, is derived from our resolve to improve the lives of our customers and the well-being of our communities. As a financial institution, we have a distinct and crucial role to play in the transition to a sustainable future. We are intent on delivering long-term value for all we serve and to building healthy, inclusive economies for everyone’s benefit.”
Fifth Third today published its 2021 Environmental, Social and Governance Report, which provides updates and progress on the Bank’s ESG strategy and priorities, for all stakeholders: customers, employees, communities, investors and regulators. Prominent ESG standards and framework indices, including the Global Reporting Initiative, SASB Standards and Stakeholder Capitalism Metrics also have been published on our investor relations page.
The Bank’s 2021 ESG Report includes, among other updates, progress reports of actions taken under Fifth Third’s five Board-approved ESG priorities:
In 2021, Fifth Third was once again named by Ethisphere as among the world’s most ethical companies, our third year of recognition as one of only five banks honored. All of Fifth Third’s stakeholders are encouraged to read the Bank’s full 2021 ESG Report.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of March 31, 2022, the Company had $211 billion in assets and operates 1,079 full-service Banking Centers, and 2,201 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2022, had $549 billion in assets under care, of which it managed $61 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.”
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[1] Fifth Third’s Scope 1 and 2 emissions
CONTACTS
Stacie Haas (Media Relations)
Stacie.Haas@53.com | 513-534-5113
Mike Faillo (Sustainability)
Michael.Faillo@53.com | 513-534-0478
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of Dec. 31, 2021, Fifth Third had $211 billion in assets and operated 1,117 full-service banking centers and 2,322 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.
Fifth Third’s Purpose is to improve lives and the well-being of its communities by being the One Bank people most value and trust. The Company believes in doing well by doing good and delivering long-term sustainable value to all its stakeholders. Fifth Third is focused on five environmental, social and governance priorities: keeping the customer at the center, demonstrating its commitment to employees, strengthening its communities, promoting inclusion and diversity, and addressing climate change.
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