The mission of the Financial Stability Board’s Task Force on
Climate-related Financial Disclosures (TCFD) is to develop voluntary,
consistent climate-related financial risk disclosures for use by
companies in providing information to investors, lenders, insurers,
and other stakeholders. Click here for our 2022 TCFD Report.
This Financed Emissions Disclosure is provided as an addendum to Fifth
Third’s most recent Task Force on Climate-Related Financial
Disclosures Report (December 2023). It marks Fifth Third Bank’s first
disclosure of financed emissions, fulfilling a commitment made in 2021
when Fifth Third joined the Partnership for Carbon Accounting
Financials.
Operational Sustainability
Fifth Third announced our first five-year operational sustainability targets
in 2017. These goals reflected our commitment to managing our own operations
efficiently and showing leadership with the processes and activities that we
most closely control. By the end of 2022, we are to proud to have achieved
each of these bold goals, which included reducing our energy use and
location-based GHG emissions by 25%, reducing our water consumption and waste
sent to a landfill by 20%, and to purchase 100% renewable power.
Building upon this work, in 2022 we adopted a new, more aggressive set of
operational sustainability targets* to be achieved by 2030. These new goals
continue our focus on critical areas of operational sustainability and
demonstrate continued leadership in the financial services industry.
*The energy and water consumption KPI calculations are calculated for owned and ground-leased buildings where the Bank receives a utility bill. GHG emissions KPI is calculated based on all Scope 1 and Scope 2 emissions. Waste diversion rate includes all locations where the Bank receives a waste bill and data. The paper KPI calculations are calculated for office paper purchased through the Bank’s primary supply vendor. GHG emissions, energy, paper and water goals are relative to a 2014 baseline. Verification statements are available in the Additional Disclosures section.
For additional environmental disclosures, including our CDP questionnaire
responses, environmental data tables, and independent verification and
assurance reports, click
here.
Our
Sustainability Report,
TCFD Report, and
CDP – Climate Change Questionnaire Responses
detail how we measure our GHG emissions, reductions of those emissions, and
carbon neutrality in our operations, including methodologies used. Our
Carbon Offset Disclosure
contains detailed information on the carbon offsets we use. While our claims
covered by the VCMDA are not verified, our reported GHG emissions underlying
those claims are independently (third-party) verified.
The state of sustainability disclosure requirements, both voluntary & regulatory, is evolving. Please reach out to Fifth Third Investor Relations for any questions or for further information regarding Fifth Third’s current sustainability policies and practices.