CINCINNATI--(BUSINESS WIRE)--
Fifth Third Bancorp today announced its first operational sustainability goals that will promote a healthy and sustainable environment and help protect the planet for future generations. Fifth Third is formalizing and accelerating its environmental sustainability efforts by committing to the following operational sustainability goals by 2022:
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Fifth Third Bancorp's Bold Sustainability Goals (Infographic). (Photo: Business Wire)
- Reduce energy use by 25 percent.
- Reduce greenhouse gas emissions by 25 percent.
- Reduce landfill waste by 20 percent.
- Reduce water usage by 20 percent.
- Purchase 100 percent renewable power.
“Formalizing our operational sustainability goals is part of our broader commitment to make Fifth Third an environmental sustainability leader,” said Brian Lamb, executive vice president and chief corporate social responsibility and reputation officer, Fifth Third Bancorp. “By announcing these goals, we seek to raise awareness that considering sustainability issues can lead to better outcomes for our customers, our employees, and our communities.”
“I applaud Fifth Third Bancorp for establishing environmental sustainability goals that will help strengthen our communities,” said Kristin Weiss, executive director of Green Umbrella, the leading alliance working to maximize the environmental sustainability of Greater Cincinnati. “Public commitments are important and demonstrate Fifth Third’s willingness to be transparent, report its progress and be held accountable. This is the kind of leadership that will bring sustainable, positive change.”
Fifth Third recently completed a $4 million energy-efficient LED lighting installation project at facilities in four states. Ranking among the most substantial LED lighting projects in the financial industry, the project will reduce the Bank’s lighting-related energy consumption by 50 percent. This corresponds to an energy savings of 6.3 million kilowatt-hours per year, enough to provide 578 homes with electricity for one year.
A U.S. Environmental Protection Agency Green Power Partner, Fifth Third purchased 30 percent green power in 2016 and operates 28 Leadership in Energy and Environmental Design (LEED)-certified locations. Last year, Fifth Third began introducing a “Recycling 2.0” strategy that will help increase recycling rates.
More information about Fifth Third’s environmental sustainability efforts is available in Fifth Third’s 2016 Corporate Social Responsibility Report.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of March 31, 2017, the Company had $140 billion in assets and operated 1,155 full-service Banking Centers and 2,471 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. As of March 31, 2017, Fifth Third also had a 17.8 percent interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2017, had $323 billion in assets under care, of which it managed $33 billion for individuals, corporations and not-for-profit organizations through its Trust, Brokerage and Insurance businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC, Equal Housing Lender.
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