Fifth Third Earns Recognition as ESG Leader with Third Consecutive Leadership Score from CDP

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[{"type":"text","content":" CINCINNATI--(BUSINESS WIRE)--\nFifth Third Bancorp (Nasdaq: FITB) today announced it has received a Climate Leadership score of A- from CDP for its efforts and disclosures related to climate change. Fifth Third’s A- score placed Fifth Third in the top quartile of CDP’s Financial Services Activity Group. It also makes Fifth Third the only bank in its peer group to have maintained a leadership band score for three consecutive years.\n\n“Fifth Third is committed to being a leader in environmental sustainability and providing transparent reporting on the Bank’s transition to a low-carbon economy,” said Greg D. Carmichael, Fifth Third chairman and CEO. “Our leadership in climate strategy and reporting has again been recognized with a third-consecutive A- score from CDP. With all our stakeholders’ interests in mind, we are intensely focused on combating climate change and leading the transition to a sustainable future.”\n\nAteli Iyalla, managing director of CDP North America, a leading not-for-profit disclosure system, said, “Fifth Third has underscored its commitment to transparency on environmental impact, risks and opportunities. This step is critical not just for the Company’s goals, but also for its investors, customers and employees. CDP greatly values Fifth Third’s contribution to a more sustainable future.”\n\nFifth Third has been recognized as a leader by other ESG data providers, including Sustainalytics, MSCI and S&P Global. In June, Fifth Third’s Sustainalytics ESG risk rating was determined to be low risk. Recently, MSCI improved Fifth Third’s rating to A, and Fifth Third received one of the highest scores among peers in the 2021 S&P Global Corporate Sustainability Assessment.\n\nFifth Third was the first regional bank to publish a report based on the recommendations of the Task Force on Climate-related Financial Disclosures. Fifth Third plans to publish a second TCFD report in February to provide an update on the progress of our climate strategy, risk management and metrics.\n\nOn Nov. 1, Fifth Third Bancorp settled the issuance of its inaugural Green Bond for $500 million. The proceeds will fund green projects that align with the Company’s sustainability priorities, as outlined in the Fifth Third Bancorp Sustainable Bond Framework. With the issuance, Fifth Third became the first U.S. financial institution with less tha...

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