Bank / Credit Union

Fifth Third surpasses goals in environmental, community commitments

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July 8, 2024

Fifth Third Bank surpassed its goals for environmental and community investment programs in 2023, according to its 2023 Sustainability Report. In particular, it delivered more than $2.8 billion to the Accelerating Racial Equity, Equality and Inclusion initiative, according to a press release.

"Our sustainability priorities are guided by our intention to provide leadership across a range of critical, interconnected issues," Kala Gibson, EVP and chief corporate responsibility officer, Fifth Third, said in the release. "At our core, we are a relational company, which means our success begins and ends with personal connection — how we interact with our shareholders, our customers, our communities and each other. We're applying our head, heart and hustle to make an impact and drive positive change across our footprint."

Some of its investments include:

• $199.1 million to Neighborhood Investment Program.
• $734 million in Community Development Banking loans and investments.
• Reached 37.6% of its overall goal for environmental and social finance by 2030.

"Our approach to corporate sustainability is rooted in our purpose: to improve the lives of our customers and the well-being of communities," Pratik Raval, chief sustainability officer, Fifth Third, said in the release. "We believe in the philosophy of doing well by doing good and focusing on generating long-term sustainable value."