From the Fifth Third 2020 ESG Report: Materiality Assessment
Jul 15, 2021 11:00 AM ET
Fifth Third Bancorp recently published its 2020 ESG Report. In it, the Bank detailed the results of its comprehensive materiality assessment.
Based on the feedback received, the following topics were evaluated and prioritized according to their relative degree of importance. It is of note that all the topics listed are important to Fifth Third. The results of the materiality assessment was used to guide ESG disclosures and reporting.
HIGHEST PRIORITY:
- Sustainable financial performance and business strategy
- Business ethics and responsible banking
- Enterprise risk management
- Customer privacy and information security
- Inclusion and diversity
HIGH PRIORITY:
- Corporate governance guidelines and practices
- Community financial and economic inclusion
- Climate strategy and sustainable financing
- Employee engagement and development
PRIORITY
- Corporate citizenship and philanthropy
- Operational sustainability
- Public policy and government relations
- Third-party management
More about the Bank’s materiality assessment can be found in Fifth Third Bank’s 2020 Environmental, Social and Governance Report on page 11. Fifth Third published its 2020 ESG Report on June 30, 2021.
