From the Fifth Third Bancorp 2021 ESG Report: $100 Billion Environmental & Social Finance Target
After achieving its $8 billion renewable energy goal three years early, Fifth Third expanded its aim in 2022 and announced a 10-year, $100 billion environmental and social finance target through 2030.
The new target continues our commitment to accelerating the transition to and support for more sustainable and inclusive growth. The Fifth Third Environmental & Social Finance Framework is intended to provide our stakeholders clarity regarding our criteria for determining what services are eligible and the value of transactions toward our 2030 target. The framework establishes a consistent and comprehensive methodology for the classification and reporting of financial products and services as sustainable.
Environmental categories include: renewable energy, green buildings, energy efficiency, clean transportation, circular economy, pollution prevention and control, and other environmental categories. Social categories include affordable housing, access to essential services and other social categories.
For a complete explanation of the categories and additional information about the $100 billion target, please access the Fifth Third Bancorp 2021 Environmental, Social and Governance Report.