Fifth Third Bank Sustainability Profile
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 66 is higher than 81% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Let us know if this data was useful to you
Fifth Third Bank's reported carbon emissions
In 2023, Fifth Third Bank reported total carbon emissions of approximately 285,000,000 kg CO2e, comprising 9,859,000 kg CO2e from Scope 1, 60,284,000 kg CO2e from Scope 2, and 276,936,000 kg CO2e from Scope 3 emissions. This reflects a significant commitment to reducing its carbon footprint, having achieved a 54% reduction in Scope 1 and 2 emissions since 2014, with a target of reaching net zero emissions by 2050. In 2022, the bank's emissions were approximately 286,000,000 kg CO2e, with Scope 1 emissions at 11,645,000 kg CO2e, Scope 2 at 65,075,000 kg CO2e, and Scope 3 at 286,778,000 kg CO2e. The bank aims to reduce its Scope 1 and 2 emissions by 25% from 2014 levels by 2025, and has already made substantial progress towards this goal. Fifth Third Bank's climate commitments include achieving carbon neutrality for its operations by 2020 and a long-term goal of net zero emissions by 2050. The bank has also set ambitious near-term targets, including a 75% reduction in location-based greenhouse gas emissions by 2030, building on its previous commitment to a 25% reduction. The emissions data is cascaded from its parent organization, Fifth Third Bank, National Association, ensuring a comprehensive approach to sustainability across its operations.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
| 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 |
How Carbon Intensive is Fifth Third Bank's Industry?
How Carbon Intensive is Fifth Third Bank's Location?
Fifth Third Bank's Scope 3 Categories Breakdown
Fifth Third Bank's Scope 3 emissions, which decreased by 3% last year and increased significantly since 2017, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 66% of Scope 3 emissions.
Top Scope 3 Categories
Fifth Third Bank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Fifth Third Bank has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
