2024 Sustainability Report
At Fifth Third, sustainability is more than a commitment—it’s a core part of who we are. Our 2024 Sustainability Report reflects the progress we’ve made in advancing our purpose: make life a Fifth Third Better by inspiring our customers and communities to achieve financial well-being.
The 2024 Sustainability Report demonstrates our commitment to taking care of our customers, employees, communities and shareholders. Our ambition is to be the One Bank people most value and trust.
A Message from our Leaders
Fifth Third’s sustainability efforts are guided by our intention to provide leadership across of a range of critical and interconnected issues. We are a purpose-driven company working hard to make an impact and drive positive change.
In his introductory letter, Chief Corporate Responsibility Officer Kala Gibson speaks to the the progress made against the Bank’s sustainability goals in 2024. The Bank’s sustainability program is overseen by Fifth Third’s Corporate Responsibility and Sustainability Offices. Corporate sustainability strategy, governance, and disclosure is led by Fifth Third’s Chief Sustainability Officer, Pratik Raval. The Fifth Third Bancorp Board of Directors has full oversight of the Bank’s sustainability program.
Ethics and Governance
To be the one bank people most value and trust, Fifth Third’s most valuable asset is our integrity. We are steadfastly committed to always acting in a matter that merits public trust and confidence.
A strong governance program is the foundation for a sustainable and well governed company. Fifth Third has been recognized by Ethisphere as among the World’s Most Ethical Companies for six of the past seven years.
Customer at the Center
Fifth Third has a simple, diversified portfolio with three main business segments: Consumer and Small Business Banking, Commercial Banking, and Wealth & Asset Management. The Bank pairs a commitment to outstanding customer service with innovative and inclusive products and services that benefit lives and improve businesses. This is highlighted by the Bank’s award-winning, flagship Fifth Third Momentum® Banking account.
Human Capital Management
The talent, passion and commitment of our employees has always been at the center of our success. Who they are and how they perform is what helps us build great relationships with our customers and the communities we serve. Their individual and collective contributions, meaningful connections, innovative and inclusive ideas, collaboration and commitment propel our Company forward.
Fifth Third strives to provide our employees with a world-class work environment, competitive pay and comprehensive benefits, and to engage employees regularly to empower our recruitment, development, retention and advancement efforts.
Sustainable Finance & Operations
Fifth Third’s commitment to sustainable finance and sustainable operations includes supporting an energy transition by helping our customers respond to a changing climate and reducing our environmental and carbon footprint through projects that efficiently manage our operations.
Fifth Third’s 10-year $100 billion Environmental and Social Finance Target through 2030 achieved $45.3 billion, or over 45% of goal, through year-end 2024. The target is a commitment to fund projects that will lead to a sustainable and inclusive economy.
Fifth Third completed 17 rooftop solar panel installations at new financial centers in 2024. In all, Fifth Third has more than 30 retail locations with rooftop solar generating up to 90% of annual electric needs at some location
Place-based Economic Development
Fifth Third sets the bar high for our corporate citizenship. We seek to be a trusted advisor in our communities and want to bring our social capital and commitment to bear on major projects and initiatives, especially through our innovative place-based approach to community development, which includes the Fifth Third Neighborhood Program
By providing access to capital, we are focused on creating affordable housing, spurring inclusive and sustainable economic development, and delivering financial access, education and stability, especially in underserved communities.
Additional Information
Fifth Third has published its sustainability data in conjunction with the 2024 Sustainability Report, including the GRI Index, the SASB Index and the Stakeholder Capitalism Metrics index. Access them on the Investor Relations site.