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Headquartered in the US, Fifth Third Bank, often referred to simply as Fifth Third, is a prominent financial institution delivering comprehensive financial intermediation services. Founded in 1858 through the merger of two Cincinnati-based banks, it has a rich history spanning over 160 years, evolving to become a leading regional bank.
Fifth Third offers a wide array of banking solutions for individuals, businesses, and corporations. These include retail banking, commercial banking, wealth management, and credit card services, all designed to meet diverse financial needs. Their distinctive approach focuses on building strong client relationships and offering tailored advice.
Operating across a significant footprint within the eastern and midwestern United States, Fifth Third Bank maintains a strong market position. They are recognised for their commitment to innovation and their substantial contributions to the communities they serve.
58
DitchCarbon score
+21 vs industry average
Fifth Third Bank’s score of 58 is higher than 72% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
20202021202220232024202520262027
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Fifth Third Bank's reported carbon emissions
Fifth Third Bank, operating in the Financial intermediation services sector, reported its carbon emissions for 2024 as approximately 9.4 million kg CO2e for Scope 1, and about 51.4 million kg CO2e for Scope 2 (location-based). Its Scope 3 emissions for 2024 include roughly 125.5 million kg CO2e from purchased goods and services, about 34.3 million kg CO2e from capital goods, approximately 12.2 million kg CO2e from business travel, around 18.4 million kg CO2e from employee commuting, approximately 2.8 million kg CO2e from waste generated in operations, and about 10.9 million kg CO2e from fuel and energy-related activities.
For 2023, the bank's Scope 1 emissions were approximately 9.8 million kg CO2e, and Scope 2 (location-based) emissions were around 60.2 million kg CO2e. Scope 3 emissions for 2023 included roughly 181.4 million kg CO2e from purchased goods and services, about 53.6 million kg CO2e from capital goods, approximately 12.7 million kg CO2e from business travel, around 21.0 million kg CO2e from employee commuting, approximately 2.9 million kg CO2e from waste generated in operations, about 13.4 million kg CO2e from fuel and energy-related activities, and around 3.7 million kg CO2e from upstream transportation and distribution.
Fifth Third Bank has demonstrated a commitment to reducing its carbon footprint. The company has achieved a 50% reduction in its Scope 1 and 2 emissions between 2014 and 2022. By 2023, this reduction had increased to 54% compared to 2014 levels. The bank aims to reduce its location-based Scope 1 and 2 GHG emissions by 75% by 2030, a significant increase from its previous 25% reduction target. Fifth Third Bank also declared carbon neutrality for its operations in 2020 (covering Scope 1 and 2 emissions) and is committed to achieving net-zero emissions across all scopes by 2050. Furthermore, the bank intends to reduce its Scope 1 and 2 emissions to near zero by 2025. These commitments and performance data are inherited from its parent organization, Fifth Third Bank, National Association, as reported to CDP and for organization performance.
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Fifth Third Bank’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
On track94%
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
At risk48%
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Behind target22%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
6 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
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Not active
Carbon Disclosure Project
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Active
The Climate Pledge
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Not active
UN Global Compact Climate Champions initiative
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Not active
RE 100
2022 targetSee details
Active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Fifth Third Bank1 year ago
58
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