Fifth 3rd Achieves Carbon Neutrality | Organization & Finance

CINCINNATI–(Business WIRE)–Jan 19, 2021–

Fifth Third (Nasdaq: FITB) now introduced that it has realized carbon neutrality for its functions in 2020, together with greenhouse gasoline emissions from its amenities and small business vacation. This accomplishment was completed by specifically cutting down the Company’s company carbon footprint, buying renewable electric power and employing carbon offsets from a undertaking in its retail footprint for remaining emissions.

Fifth 3rd Financial institution has accomplished carbon neutrality for its functions in 2020. (Picture: Company Wire)

“Becoming the initially regional U.S.-based professional financial institution to accomplish carbon neutrality demonstrates Fifth Third’s unequivocal determination to environmental sustainability management in the economic services marketplace,” mentioned Fifth 3rd Chairman and CEO Greg D. Carmichael. “Achieving and retaining carbon neutrality makes sure that our operations minimize influence to the atmosphere and is valuable to all of our stakeholders.”

Fifth Third’s carbon neutrality achievement follows the Bank’s five-year $8 billion sustainable finance intention declared in September 2020. Additionally, Fifth 3rd proceeds to make substantial development on its 5 daring sustainability objectives, declared in 2017, together with acquiring already reached its objective for 100% renewable electricity, a 20% reduction in h2o usage and a 25% reduction in greenhouse gas emissions.

In addition to these targets, Fifth Third notes the adhering to third-bash recognition and progress connected to environmental sustainability.

  • Managed its A- Climate Leadership Rating from CDP in 2020 from 2019.
  • Publication of its inaugural Environmental, Social and Governance Report in September 2020.
  • Publication of a Endeavor Drive on Weather-Connected Fiscal Disclosure (TCFD) index as effectively as getting to be a TCFD supporter, 2020.
  • An Environmental Safety Agency Environmentally friendly Electricity Management Award, 2020.
  • Institution of its countrywide renewable energy finance middle of excellence in 2018, and the addition of a renewable energy financial commitment banking team in 2019.

Fifth Third’s assert to carbon neutrality is pending 3rd-bash verification. For added environmental disclosures, which includes the Bank’s CDP questionnaire responses, environmental details tables, sustainable finance goal methodology and unbiased verification and assurance experiences, stop by the more disclosures webpage of Fifth Third’s ESG internet site.

Fifth Third Bancorp is a diversified monetary services enterprise headquartered in Cincinnati, Ohio and the oblique father or mother business of Fifth Third Lender, Countrywide Association, a federally chartered establishment. As of September 30, 2020, Fifth 3rd experienced $202 billion in assets and operated 1,122 whole-provider banking centers and 2,414 ATMs with Fifth 3rd branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In complete, Fifth 3rd provides its consumers with obtain to close to 52,000 price-cost-free ATMs across the United States. Fifth 3rd operates 4 major firms: Business Banking, Branch Banking, Client Lending and Wealth & Asset Management. Fifth Third is among the major money administrators in the Midwest and, as of June 30, 2020, experienced $422 billion in property under care, of which it managed $53 billion for persons, corporations and not-for-earnings businesses by way of its Belief and Registered Financial investment Advisory companies. Investor information and press releases can be considered at Fifth Third’s prevalent inventory is traded on the Nasdaq® Global Decide on Industry beneath the symbol “FITB.” Fifth 3rd Lender was established in 1858. Deposit and Credit history products are offered by Fifth Third Lender, Nationwide Affiliation. Member FDIC.

Get hold of: Stacie Haas (Media Relations)

Chris Doll (Investor Relations)


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PUB: 01/19/2021 09:04 AM/DISC: 01/19/2021 09:05 AM

Copyright Small business Wire 2021.