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Fifth Third Bank Joins Ceres Company Network, Sets Sustainability Goals

(Credit: Pixabay)

Fifth Third Bank has joined the Ceres Company Network. By joining, Fifth Third has become part of a network of 60 companies who commit to achieving specific sustainability goals, improving resiliency in their operations and supply chains, and advancing market-based and equitable solutions to the world’s biggest sustainability challenges.

The Ceres Company Network provides members with access to Ceres experts and a range of peers and stakeholders, including investors and policymakers, to gain various perspectives and guidance in sustainability at this critical time. Members are given clear insight into best practices for achieving sustainability goals as detailed in the Ceres Roadmap 2030.

Joining the Ceres Company Network follows Fifth Third’s achievement of carbon neutrality for its own 2020 operations (Scope 1, Scope 2 and business travel under Scope 3), which was reported by Environment + Energy Leader in January. It also comes as the Bank has committed to measuring and ultimately reducing emissions in certain client portfolios, aided by its joining of the Partnership for Carbon Accounting Financials.

Fifth Third has announced six sustainability goals, including a five-year, $8 billion sustainable finance goal announced in 2020. It has achieved three of its five sustainability goals announced in 2017, including using 100% renewable power, reducing water use by 20% and reducing greenhouse gas emissions by 25%. In addition to these goals, Fifth Third has maintained its A- Climate Leadership Score from CDP in 2020 and established a national renewable energy finance center of excellence in 2018.

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