2020 Environmental, Social, and Governance Report
Fifth Third Bank is proud to release our 2020 Environmental, Social, and Governance (ESG) Report, which builds the Bank’s inaugural 2019 report as well as the Fifth Third Bancorp 2020 annual report to shareholders.
Read the 2020 report and supportive message from Chairman & CEO Greg D. Carmichael.
Fifth Third’s approach to ESG is focused on doing well by doing good. The Bank is focused on generating long-term sustainable value for our stakeholders, including shareholders, customers, employees, communities and regulators. This focus is aligned with our Vision and guided by our Core Values and Strategic Actions.
Fifth Third was the first regional commercial bank to become carbon neutral for its 2020 operations, surpassed its Community Commitment by delivering $41.6 billion, announced a $2.8 billion Accelerating Racial Equity, Equality and Inclusion initiative, and facilitated $7.4 billion in Small Business Administration Paycheck Protection Program (PPP) loans. The Bank also has 40% board diversity.
The Economic section of the ESG Report includes corporate and economic profile, sustainable financial performance and business strategy, markets served, responsible banking, empowering customers and the community commitment.
The Governance section of the ESG Report includes corporate governance, business ethics, public policy and government relations, enterprise risk management, consumer privacy and information security, and third-party management.
The Social section includes Fifth Third’s COVID-19 pandemic actions, inclusion and diversity, employees and communities, including community reinvestment act performance, the Bank’s community commitment, financial and economic inclusion, and corporate citizenship and philanthropy.