Fifth Third Joins Ceres Company Network; Latest Step in Accelerating Transition to a Sustainable Future
May 11 2021 - 9:20AM
Business Wire
As part of its commitment to be a leader in sustainability,
Fifth Third Bank, National Association, today announces that it has
joined the Ceres Company Network. By joining, Fifth Third has
become part of a network of 60 companies who commit to achieving
robust sustainability goals, improving resiliency in their
operations and supply chains, and advancing market-based and
equitable solutions to the world’s biggest sustainability
challenges.
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Greg D. Carmichael, chairman and CEO of
Fifth Third Bank (Photo: Business Wire)
“Joining the Ceres Company Network is another major step forward
in our commitment to lead among regional banks in transitioning to
a more sustainable future,” said Fifth Third Chairman and CEO Greg
D. Carmichael. “It will be a privilege to work with many of the
world’s most sustainable companies as we tackle the problems we
face, and, together, work to fully realize the potential we have to
positively impact our planet and its people.”
The Ceres Company Network provides
members with unique access to Ceres experts and a range of peers
and stakeholders, including investors and policymakers, to gain
various perspectives and guidance in sustainability at this
critical time. Members are given clear insight into best practices
for achieving sustainability goals as detailed in the Ceres Roadmap
2030. Ceres released the 10-year action plan last year to help
companies tackle the world’s most critical sustainability needs -
to stabilize the climate, protect water and natural resources and
build a just and inclusive economy—and thrive in the accelerated
transition to a just, sustainable, net zero emissions future.
“We are excited to welcome Fifth Third Bank into the Ceres
Company Network,” said Mindy Lubber, Ceres CEO and president. “The
banking sector has a pivotal role to play in tackling the world’s
biggest sustainability challenges and accelerating the transition
to a more sustainable future. We look forward to working with Fifth
Third as it integrates stronger sustainability practices into the
bank’s strategy and its work with clients.”
Joining the Ceres Company Network follows Fifth Third’s
achievement of carbon neutrality for its own 2020 operations (Scope
1, Scope 2 and business travel under Scope 3), which made Fifth
Third the first bank in its peer group to mark that achievement. It
also comes as the Bank has committed to measuring and ultimately
reducing emissions in certain client portfolios, aided by its
joining of the Partnership for Carbon Accounting Financials.
Fifth Third has announced six bold sustainability goals,
including a five-year, $8 billion sustainable finance goal
announced in 2020. It has achieved three of its five sustainability
goals announced in 2017, including using 100% renewable power,
reducing water use by 20% and reducing greenhouse gas emissions by
25%. In addition to these goals, Fifth Third has maintained its A-
Climate Leadership Score from CDP in 2020 and established a
national renewable energy finance center of excellence in 2018.
Fifth Third aligns its work in environmental sustainability to
the United Nations Sustainable Finance Goal No. 13 Climate Action.
More information is available in Fifth Third’s 2019 ESG Report.
Fifth Third expects to publish its 2020 ESG Report in mid-2021.
About Ceres
Ceres is a nonprofit organization working with the most
influential capital market leaders to solve the world’s greatest
sustainability challenges. Through our powerful networks and global
collaborations of investors, companies and nonprofits, we inspire
action and drive equitable market-based and policy solutions
throughout the economy to build a just and sustainable future. For
more information, visit ceres.org and follow @CeresNews on
Twitter.
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, 2021, Fifth Third had $207 billion in
assets and operated 1,098 full-service banking centers and 2,383
ATMs with Fifth Third branding 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 53,000 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, 2021, had $464
billion in assets under care, of which it managed $58 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.” Fifth Third Bank was established in 1858.
Deposit and Credit products are offered by Fifth Third Bank,
National Association. Member FDIC.
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Stacie Haas (Media Relations) Stacie.Haas@53.com |
513-534-5113
Mike Faillo (Investor Relations) Michael.Faillo@53.com |
513-534-0478
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