From the 2022 Fifth Third Sustainability Report: Our Approach to Sustainability
Fifth Third’s approach to corporate sustainability is rooted in its purpose: to improve the lives of its customers and the well-being of communities. The Bank believes in the philosophy of doing well by doing good and focusing on generating long-term sustainable value for its stakeholders, including shareholders, customers, employees, communities and regulators. This continued focus drives Fifth Third toward achieving its vision to be the one bank people most value and trust, which is why it does what it does.
Fifth Third’s Corporate Responsibility Office
Fifth Third’s commitment to sustainability is integrated across the Company and in its strategic planning. In March 2022, Fifth Third elevated Kala Gibson, executive vice president and chief corporate responsibility officer, with additional oversight of sustainability, as well as inclusion and diversity. A sustainability office was established within the Corporate Responsibility team to lead ESG reporting and governance that was previously managed by the investor relations team. The sustainability office is led by the chief sustainability officer, a new position, with support from the Corporate Responsibility team as well as partners across the Company.
Sustainability Committee
In 2020, the Nominating and Corporate Governance Committee of the Board of Directors established the Sustainability Committee (previously named Environmental, Social and Governance Committee) with a charter to provide oversight and review of the Bank’s policies, programs, practices, strategies and approach to ESG topics.
In 2022, the Sustainability Committee’s membership was elevated to include the President and CEO, as well as other members of the senior executive leadership team. Updates on ESG topics are regularly given to the NCG Committee as well as to the Board of Directors through the year.
Members of the Sustainability Committee:
- Chief Corporate Responsibility Officer (chair)
- Chief Community Impact Banking Officer
- Chief Credit Officer
- Chief Legal Officer
- Chief Risk Officer
- Chief Sustainability Officer
- Group Regional President and Head of Wealth & Asset Management
- Head of Commercial Bank
- Head of Consumer Banking
- Head of Enterprise and Non-Financial Risk
- President and CEO
- Senior Deputy General Counsel
- Senior Director, Investor Relations
- Chief Audit Executive (non-voting member)
To read the full 2022 Sustainability Report, visit www.53.com/sustainabilityreport.
