Fifth Third Bancorp

Fifth Third Bancorp reported gross GHG emissions (Scope 1 + 2 before carbon offsets) for the twelve months ending 31 December 2020 at 13 Kt (-2.3 /-15.3% y-o-y). At the same time, carbon intensity remained flat at 2 t.

Fifth Third Bancorp's Scope 3 emissions tumbled to 4 Kt (-8.3 /-67.8% y-o-y). This is a higher rate of decline than over the period since 4Q'18 (-32.6% CAGR).

The company has not set a company-wide target for an absolute reduction in GHG emissions yet.

Fifth Third Bancorp achieved carbon neutrality across its entire value chain (all Scopes) in 2020. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.