(Credit: Pixabay)Fifth Third today announced that it has achieved carbon neutrality for its operations in 2020, including greenhouse gas emissions from its facilities and business travel. This achievement was accomplished by directly reducing the Company’s corporate carbon footprint, purchasing renewable power and utilizing carbon offsets from a project in its retail footprint for remaining emissions.
Fifth Third says it is the first regional US-based commercial bank to achieve carbon neutrality. The organization’s carbon neutrality achievement follows its five-year $8 billion sustainable finance goal announced in September 2020. Additionally, Fifth Third continues to make significant progress on its five bold sustainability goals, announced in 2017, including having already achieved its goal for 100% renewable power, a 20% reduction in water usage and a 25% reduction in greenhouse gas emissions.
Fifth Third aligns its work in environmental sustainability to the United Nations Sustainable Finance Goal No. 13 Climate Action. More information is available in the 2019 ESG Report. Fifth Third expects to publish its 2020 ESG Report in mid-2021.
Fifth Third’s claim to carbon neutrality is pending third-party verification.
