Fifth Third Bank
Fifth Third Bank, officially known as Fifth Third Bancorp, is a prominent financial institution headquartered in the United States, specifically in Cincinnati, Ohio. Established in 1858, the bank has evolved into a key player in the banking industry, serving customers across the Midwest and Southeast regions. Fifth Third Bank offers a diverse range of services, including personal banking, commercial banking, and wealth management, distinguished by its commitment to customer service and innovative financial solutions. The bank has achieved notable milestones, such as being one of the first to introduce mobile banking services, enhancing accessibility for its clients. With a strong market position, Fifth Third Bank is recognised for its robust financial performance and community involvement, making it a trusted choice for individuals and businesses seeking comprehensive banking solutions.
DitchCarbon Score
How does Fifth Third Bank's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Fifth Third Bank's score of 63 is higher than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Fifth Third Bank's reported carbon emissions
In 2023, Fifth Third Bank reported total carbon emissions of approximately 285,000,000 kg CO2e, with significant contributions from Scope 1, 2, and 3 emissions. Specifically, Scope 1 emissions were about 9,859,000 kg CO2e, while Scope 2 emissions reached approximately 60,284,000 kg CO2e. The majority of emissions stemmed from Scope 3, totalling around 276,936,000 kg CO2e, which includes categories such as purchased goods and services (about 181,497,000 kg CO2e) and business travel (approximately 35,343,000 kg CO2e). Fifth Third Bank has made notable strides in reducing its emissions, achieving a 54% reduction in Scope 1 and 2 emissions since 2014, with a target to reach this reduction by 2023. The bank aims for a 25% reduction in Scope 1 and 2 emissions from 2014 levels by 2025. Additionally, it has committed to achieving net zero emissions across all scopes by 2050. The emissions data is cascaded from its parent organization, Fifth Third Bank, National Association, which oversees the bank's sustainability initiatives. The bank's commitment to sustainability is further evidenced by its goal to reduce location-based greenhouse gas emissions by 75% from 2014 levels by 2030.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 12,116,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 2 | 58,315,000 | 00,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 10,249,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Fifth Third Bank is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
