exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
the Nominating & Corporate Governance committee of our corporate governance, executive
compensation and other ESG topics.
Focus groups, conversations through branch
interactions and phone calls, satisfaction
surveys, social media interactions, customer
Corporate citizenship & Customer privacy & Business ethics &
helplines and corporate website.
financial inclusion information security responsible banking Customers
Engagement survey, executive leadership
communications, learning programs,
business resource groups and inclusion
councils, performance and development
initiatives, and corporate intranet.
Employees
Third-party management Environmental sustainability Inclusion & diversity
National Community Advisory Forum,
periodic Community Needs Assessments,
financial education and outreach programs,
philanthropic inve
Keyword: governance
government relations corporate governance & development
meetings with senior management,
interactions through regulatory affairs and
government affairs teams, and regulator-
Regulators sponsored events and initiatives.
112023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
United Nations Sustainable Development Goals
Fifth Third has aligned our sustainability strategy and disclosures to recommendations from the United Nations. This includes supporting the Fifth Third’s Aligned
fundamental principles of human rights across all our business activities, which are guided by the principles set forth in the United Nations Sustainable Development Goals
Universal Declaration of Human Rights, as well as aligning our sustainab
Keyword: governance
122023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Sustainability Priorities and Performance Metrics
Through stakeholder engagement and discussions with our senior executive leadership team, the Sustainability Committee identified five priorities. These priorities are incorporated into a
qualitative review that can modify variable compensation plan funding for both executives and employees. The metrics below are reviewed regularly and represent key data points of these
priorities, which are discussed in further detail in this report.
Unit of Page
Sustainability priority Performance metric 2023 2022 2021 Goals
measure References
Environmental and $100
Environmental and Social Finance Target $ (billions) $9.5 $14.3 $13.7 21
Social Finance Target (2021-2030)
Community Reinvestment Ac
Keyword: governance
132023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Sustainable Financial Performance
and Business Strategy
Banks play a critical role in the
economy and in the communities where
we do business. As one of the largest
banks in the United States, Fifth Third
has supported our communities since
1848 through lending and investments,
protecting our customers' deposits and
$2.3 billion $215 billion
providing career opportunities.
2023 full year net income* in assets*
Corporate and Economic Profile
Fifth Third is a bank that’s as long on innovation as it is on
history. Since 1858, we’ve been helping individuals, families,
businesses and communities grow through smart financial
services that improve lives. Our list of firsts is extensive, and
it’s one that continues to expand as we explore
Keyword: governance
142023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Markets Served
As of Dec. 31, 2023, Fifth Third operated
1,088 full-service banking centers and 2,104
Fifth Third-branded ATMs in our retail
footprint, which includes Ohio, Kentucky,
Indiana, Michigan, Illinois, Florida,
Tennessee, West Virginia, Georgia, North
Carolina and South Carolina. Fifth Third
1,088
provides customers access to over 40,000
fee-free ATMs across the United States.
Outside of our retail footprint, we have middle
market and corporate banking offices and full-service
provide indirect auto and mortgage lending banking centers
across the United States.
[Footnotes1]
Strong footprint and leading position:
• No. 2 in deposit share in Midwest MSAs and
No. 6 in high-growth, key Southeast MSAs. 2,104
• Gained or mainta
Keyword: governance
152023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Strategic Planning
Strategic planning is a critical aspect of Fifth Third’s ability to generate sustainable value for stakeholders and consistent financial outcomes. The strategic
planning process is designed to deliver a shared understanding of our vision, objectives, tactics and target outcomes, while maintaining risk management excellence
and strong governance mechanisms. That shared understanding spans from our Board of Directors to our management and front-line staff, guiding our strategic
principles and investments. Our current strategic principles are stability, profitability and organic growth, in that order.
Stability Profitability Organic Growth
• Run the Bank defensively. • Execute at a high level consistently. • Streng
Keyword: governance
2023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
NET CHARGE-OFF RATIO
0.42
0.35 0.35
0.32 0.32
0.19
0.16
2017 2018 2019 2020 2021 2022 2023
172023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Awards and Accolades
Fifth Third’s efforts in sustainability earned recognition between Jan. 1, 2023, and June 30, 2024. This recognition is a testament to the collaborative
relationships we have with all of our stakeholders as we work to improve lives in the communities we serve. Honors received for multiple years are noted.
Ethisphere World’s Most Ethical Companies, Time World Best Companies, 2023. Fortune World’s Most Admired Companies, 2024.
2024, 2023, 2022, 2021, 2019.
The World’s Best Companies 2023 ranking by TIME F
Keyword: governance
182023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
American Banker names
Fourteen Fifth Third Leaders Named
to 2023 Most Powerful Women Lists
Fourteen of Fifth Third’s female leaders were named 2023 Most Powerful Women
in Banking honorees by American Banker. The annual list highlights standout
accomplishments of female executives in banking and finance.
Most Powerful Women in Banking
• Bridgit Chayt, executive vice president, head of commercial payments and
treasury management.
• Melissa Stevens, executive vice president, chief marketing officer.
Most Powerful Team in Banking
• Kristine Garrett, executive vice president,
group regional president and head, Wealth & Asset Management.
• Katelyn Browning, vice president and manager,
Wealth & Asset Management strategy.
• Tricia Eltonhe
Keyword: governance
192023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
JUST Capital Ranking of America’s 100 Most Just Companies, 2024, 2023.
Forbes Best Brands for Customer Service, 2024.
Fortune America’s Most Innovative Companies, 2023.
J.D. Power U.S. Retail Banking Satisfaction Study, 2024. Fifth Third was No.1 in Florida.
Bloomberg Gender Equality Index, 2023, 2022, 2020, 2019.
Dave Thomas Foundation for Adoption Best Adoption-Friendly Workplaces,
2024, 2021, 2020, 2019.
Disability:IN, Disability Equality Index, 2023, 2022, 2021, 2020.
Human Rights Campaign Foundation Corporate
Equality Index, 2024/2023, 2022, 2021, 2020, 2019.
Forbes Best Employers for Diversity, 2023, 2022, 2021, 2019.
Newsweek America’s Greatest Workplaces for LGBTQ+, 2024.
Global Finance, Best Private Bank Award,
2024, 2023
Keyword: governance
202023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
$100B Environmental and Social Finance Target
After achieving our $8 billion renewable energy finance goal, Fifth Third expanded our aim in The Fifth Third Environmental & Social Finance Framework provides our stakeholders clarity
2022 and announced a 10-year, $100 billion environmental and social finance target through regarding our criteria for determining what services are eligible and the value of transactions
2030.2 The new target continues our commitment to accelerating the transition to and support toward our 2030 target. The framework establishes a consistent and comprehensive
for more sustainable and inclusive growth. methodology for the classification and reporting of financial products and services as sustainable.
.
Thr
Keyword: governance
212023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Strengthening our Communities
Fifth Third is a purpose-driven company with a history of innovation and commitment to community. By leaning
into that natural foundation, we can unleash the talent and passion of our employees to improve lives and the
well-being of our communities. We view this as our corporate responsibility as well as our privilege.
We set the bar high for our corporate citizenship because it is critical to being the One Bank people most value
and trust. We need to do more than just offer the right products and services to meet the financial needs of our
stakeholders. We seek to be a trusted advisor in our communities and want to bring our social capital and
commitment to bear on major projects and initiatives that
Keyword: governance
222023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Accelerating Racial Equality, Equity and Inclusion
Accelerating inclusion has always been a top priority for Fifth Third Bank. Our purpose, to Fifth Third met the goals we aspired to under the ARREI initiative. We met our philanthropic
improve the lives of others and the well-being of our communities, champions a more inclusive giving goal while exceeding goals for loan capital, community investments and financial
world that offers opportunities to build lasting relationships, businesses and connectivity among accessibility.
people and resources. Announced in 2020, AREEI pledged to underserved communities significant funding for strategic
The Bank surpassed its three-year, $2.8 billion commitment to accelerate racial equality, equ
Keyword: governance
232023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Employees Listening Strategy
In 2023, Fifth Third completed its three-year employee
“Our broad-based AREEI initiative
For employees, Fifth Third’s efforts under AREEI focused listening strategy. In partnership with a leading marketing
has benefited all of Fifth Third on improving the recruiting process, employee career strategy and research organization, we facilitated 53 listening
stakeholders in an extremely mobility and the employee experience to increase sessions with over 600 participants from Oct 2021 to Oct 2023.
engagement and retention. Thirteen sessions were conducted in 2023 with the other 40
meaningful way. Because we made
We also worked to create a greater sense of belonging sessions completed between October 2021 and
Keyword: governance
242023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Project REACh Fifth Third Invests $2 Million in Adelphi Bank Communities
Fifth Third joined the Office of the Comptroller of the
Our efforts in the community were designed to bring about
Currency’s Roundtable for Economic Access and Change
systemic change by increasing access to financial centers and
(REACh) initiative in 2021. This collaborative effort involves
solutions for the unbanked and underbanked as well as
leaders from banking, business, technology and national civil
expanding investments for neighborhood revitalization and
rights organizations to remove structural barriers to financial
workforce development.
inclusion and increase broader participation in the national
economy. The Bank’s work focused on four areas: affor
Keyword: governance
252023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
In 2023, Fifth Third invested The Fifth Third Foundation made a $1.6 million program-
$1 million in the National related investment in support of preserving 32 homes on
Minority Supplier Hoskins Street located in the Historic West End in
Development Council Charlotte. The grant was combined with funds from the
Business Consortium Fund, Inc. (BCF) to provide microloans American Rescue Plan Act to help create generational
and small business loans to support emerging and growing impact in the neighborhood.
minority-owned business enterprises located in the cities of In partnership with the West Side Community Land Trust,
Atlanta, Charlotte, Chicago, Cincinnati, Detroit, Nashville and North Carolina’s Mecklenburg County and others, Fi
Keyword: governance
262023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
National Community Advisory Forum
Fifth Third deeply understands that collaboration is key Fifth Third’s National CAF Members, 2023
to its corporate sustainability efforts. Since 1992, Fifth
Diane Ashley | DTA Diversity Counts | Edgewater, New Jersey.
Third has had a Community Advisory Forum comprised
of industry and community leaders to inform, guide and Patrick Briaud | Rockefeller Philanthropy Advisors | New York.
affirm the Company’s community commitments and Stephanie Byrd | American Red Cross | Cincinnati.
strategic initiatives. In 2017, Fifth Third evolved the
Catherine (Katy) Crosby | National Community Reinvestment Coalition |
work of the CAF and has continued to progress its work
Washington.
and level of involvement with
Keyword: governance
sustainability (environmental, social and governance), and the
Community Reinvestment Act. The National CAF works to Fred Mitchell | United Negro College Fund | New York.
help Fifth Third deliver on its five sustainability priorities, Carol Naughton | Purpose Built Communities | Atlanta.
with particular emphasis on affordable housing, economic
Pamela Prince-Eason | WEBENC | Washington.
development, financial accessibility and workforce
development. Kala Gibson, executive vice president & chief Aaron Seybert | Kresge Foundation | Detroit.
corporate responsibility officer, chairs the National CAF, Cherie Collins Sims | Prosperity Now | Washington.
which meets in person twice per year. In 2023, the National
Luz Urrutia | Accion Opportunity Fund | Washington.
CAF met in Charlotte and Cincinnati.
Keyword: governance
272023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Community Impact
Being the One Bank people most Outstanding CRA Rating $100 Billion Social Finance Target
value and trust means that Fifth Third In 2023, Fifth Third reported its receipt Fifth Third has committed to achieving a $100 billion
of an “Outstanding” performance rating, finance target through 2030 that advances our goal to
has a real opportunity to catalyze
the highest possible, from its most build inclusive and sustainable economies. From a social
transformative change in the recent Community Reinvestment Act perspective, we are making investments in affordable
exam conducted by the Office of the housing, socioeconomic advancement and empowerment,
communities we serve. We firmly
Comptroller of the Currency. access to es
Keyword: governance
282023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Innovative
Neighborhood Program “Our neighborhood Goals for the Fifth Third Neighborhood
Fifth Third’s Empowering Black Futures program is focused on Neighborhood Program Program Results
Neighborhood program is helping to outcomes versus inputs. The Bank’s innovative place-based, Through Dec. 31, 2023, Fifth Third
change the way banks are approaching
people-first program seeks to: delivered the following results through
We’re not just making big
community development. By focusing
• Create more equitable, connected our neighborhood program.
on specific neighborhoods and bringing financial investments. We
systems. Strengthen links across
all the right partners together to Overall, Fifth Third has delivered $199.1
are creating real c
Keyword: governance
2023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Impact in the Historic West End launched, and $1.6 million in program-related investments homeownership. These first four units of housing are just
have been deployed. Fifth Third is helping to transform the phase one of the project. Phase two will include the
lives of residents in the Historic West End for generations construction of 15 new homes.
to come. “Without this kind of housing development, many in our
It was because of this that Fifth Third Chairman, CEO and community would be at risk of homelessness,” said Angela
President Tim Spence toured the Historic West End in Hurlock of Claretian Associates.
January 2024 to speak with residents, partners and small
businesses to see the results of our efforts and understand Avondal
Keyword: governance
302023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Affordable Housing
The housing crisis in the United States is a products and those who wish to purchase a assistance programs that can be combined “We have a team of excellent lenders and
persistent problem. Fifth Third is committed home in an underserved and/or low-income with our own. investors who not only provide access to
to developing solutions to help people in our census tract. Early in 2024, Fifth Third made changes to capital but also their expertise, which has
communities obtain and maintain permanent In 2023, Fifth Third worked to develop the 53 our program to enable the lowest-income been cultivated through years of working
housing for themselves and their families. Community Special Purpose Credit Program borrowers w
Keyword: governance
312023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
are administered by the Charlotte office of Fifth Third also is opening doors for hundred of the units will be one-bedroom Also in 2023, Fifth Third made a $15 million
Local Initiatives Support Corporation, support community development work in Illinois and with the remaining 40 being two-bedroom LIHTC construction loan for Thrive
both new construction and existing affordable Michigan through a $5 million equity units. Five of them will be reserved for Englewood, a mixed-use and mixed-income
housing development to address the widening equivalent investment, or EQ2, to Cinnaire residents at 22% of the area median income, 62-unit housing development in the Chicago
housing gap. To date, CHOIF I has supported Lending Corporation, a ce
Keyword: governance
322023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Economic arts and creative pursuits.” WACC had a ribbon cutting for
phase 1a of the project in September 2023.
Development
Community Development
Financial Institutions
We know there are times when small businesses—and others—
While housing is a major factor in community revitalization,
require additional assistance and guidance beyond what we
it’s not the lone issue. We also work in the communities we
can provide. Community development financial institutions, or
serve to support small businesses, revitalize neighborhoods
CDFIs, help to fill that gap. These private institutions provide
by supporting business corridors and delivering other
responsible, affordable capital to those who are unable to use
place-based essential services,
Keyword: governance
332023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
NonProfit Organization Financing Fifth Third’s Support of CDFIs
In 2023 a Community Development Finance group was established with the primary goal of In 2023, Fifth Third made investments in nine CDFIs and/or CDFI-sponsored funds for a total of
supporting the work of nonprofit and not-for-profit organizations in the communities we serve. $31.5 million.
Nonprofit organizations that have ready access to capital and the financing necessary to In addition to investments in Cinnaire, Allies for Community Business and the National Minority
operate efficiently are able to have an significant impact on economic development, Supplier Development Council Business Consortium Fund, Fifth Third made investments in the
especially in the areas
Keyword: governance
342023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Fifth Third Community Development Corporation
The Fifth Third CDC invests in real estate Renovation plans center around empowering Elizabeth Street Apartments
projects across our footprint to help women in all aspects of their lives. Something
Fifth Third invested $8.9 million in equity and
communities thrive. These investments can that seems simple, like lighting with dimmer
financed $12 million in debt in support of the
include affordable housing, small business switches, having an adjustable thermostat or a
first phase of a five phase effort called
spaces or commercial projects. Often, the ceiling fan, can make a big difference in
Elizabeth Street Apartments in downtown
projects enable access to essential services for providing
Keyword: governance
352023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Financial Education, Access and Stability
For 20 years, Fifth Third has been a The Fifth Third Young Bankers Club began in 2004. Since that Fifth Third Bank Finance Academy®
time, tens of thousands of young bankers have become YBC
leader in developing financial education In 2023, more than 145,000 students benefited from our two
graduates. In 2023, 2,169 students participated in the program.
Fifth Third Bank Finance Academy courses: foundational
programs for individuals in various
In addition to its gamified lessons, the Fifth Third Young personal finance and entrepreneurship.
stages of life. Bankers Club’s digital delivery is accessible to more students. It
We also reimagined our financial literacy lessons to be more
also provide
Keyword: governance
362023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Fifth Third Bank Finance Academy® (cont.) A College Curriculum Financial Access—
Personal Finance Program Our next phase of financial education for all ages and stages Addressing Banking Deserts
of life is a new college financial education curriculum
• Accessible: The 100% digital program enables students to We are committed to opening branches where we can best
developed in partnership with Grand Valley State University.
work from laptops, desktops and tablets and meets serve the needs of our customers and address existing
Significant time and effort was invested in 2023 to create a
requirements for hearing, visual and mobility needs. deserts, areas where banks are not physically present to serve
first-of-its-kind digital studio
Keyword: governance
372023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
24/7 Access
Fifth Third also provides customers access to their accounts Five Branches Open in Sunshine State
24 hours per day, seven days a week via its Fifth Third
Five de novo Fifth Third Financial Centers opened in
Internet Banking system at 53.com and via its mobile app.
low- and moderate income or high minority tract
With account openings now available on the eBus as it visits
areas in Florida in 2023.
underserved communities, our digital access capabilities give
community members the ability to have paychecks The new branches are: East Bay in Clearwater;
automatically deposited and to check account balances, pay Brandon Boulevard in Valrico; North Congress in
bills and make funds transfers at their convenience. Moreover, Bo
Keyword: governance
382023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Fifth Third Reimagines eBus A Bank on Wheels Vital Social Services
to Expand Services, Reach The eBus in 2024 made the leap from a mobile financial As part of our reimagining of the eBus, Fifth Third is
education classroom to a true financial center on wheels. collaborating with SpringFour, a women-led, social impact
Featuring the same NextGen design of all of Fifth Third’s fintech, to offer their S4connect platform of social services
newest branches, the eBus today is a place where on board the bus. This new platform enables Fifth Third to
individuals can come onboard and have privacy in continue offering best-in-class financial education to bus
discussing financial matters and open accounts on site with guests and also expands s
Keyword: governance
392023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Workforce Development
The ability to gain meaningful employment is fundamental • Urban Techs Jobs Program, which trains unemployed 2023 Workforce Development
in helping community members achieve their goals for life. individuals for middle-skill occupations in the Information
Partnership Results
That’s why workforce development is one of Fifth Third’s Technology sector.
key focus areas and avenues through which we can help • The Urban Youth Program, an evidence-based program
boost economic mobility throughout our communities. with a focus on education and employment for youths
aged 16-24 who have either experienced the criminal 1,154 1,249
Urban League Partnership
justice system or who are disadvantaged.
In 2023, Fifth Third set t
Keyword: governance
402023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Regional Workforce Initiatives
Fifth Third is an investor in the Nashville Area Chamber of
Commerce’s Partnership 2030, a regional public-private
initiative dedicated to Middle Tennessee’s long-term economic
prosperity. The Partnership is leading a strategy to maintain
and grow the Nashville region’s economy by creating jobs
through relocating and expanding businesses and building a
talented and creative workforce. Fifth Third made a five-year
investment of $270,000 from 2021-2026 in Partnership 2030.
Key areas of focus for workforce development are up-skilling
and re-skilling the current workforce, creating a talent pipeline
from education to career and facilitating connections to meet
the evolving needs of employers.
The Partner
Keyword: governance
412023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Empowering Community Leaders
Fifth Third congratulates the 25 community leaders who completed the Company’s 2023 Fifth Third ECL Program Graduates
18-month Empowering Community Leaders career development growth program. A
J’Tanya Adams | Historic West End Partners | Charlotte, North Carolina.
Harvard Kennedy School Executive Leadership Certification Ceremony was held at
Fifth Third Center in Cincinnati in August 2023. Jose Alvare | Prospera USA, Charlotte | North Carolina
“We developed this program for the Paul Booth, Jr. | Collective Empowerment Group | Cincinnati, Ohio.
simple reason that many community Kate Brackett | Family Scholar House, Louisville | Kentucky.
leaders don’t have the resources to
A.W. Burgess | Family Mankind
Keyword: governance
422023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Corporate Citizenship and Philanthropy
Fifth Third desires to be the best Volunteerism United Way
possible corporate citizen. We We are proud of our employees who devote their time and In 2023, our employees and the Fifth
resources through volunteerism. In 2023, Fifth Third Third Foundation combined to raise
understand and embrace our
employees logged 110,697 volunteer hours. Our employees over $5.7 million for United Way
responsibilities toward society and work mentor children, coach sports teams, organize fundraisers, agencies across our footprint. The
to deliver value to all our stakeholders foster rescue pets and offer business guidance through Bank also was recognized again in
nonprofit boards. 2023 as one of the top 25 Unite
Keyword: governance
432023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Philanthropy
Philanthropic Focus
36.0%
The Fifth Third Foundation, established in 1948, was among
the first philanthropic foundations created by a financial
Fifth Third Foundation
institution. Its founding marked a beginning of a long history
$20.96 million
of community support from our Company.
In 2023, philanthropic giving totaled over $35 million, which
+
includes giving from the Fifth Third Foundation, the Fifth Third
Chicagoland Foundation and Fifth Third Bank corporate giving.
“The Fifth Third Foundation has Fifth Third Chicagoland Foundation
provided important philanthropic
$1.16 million
support to our communities for
75 years,” said Heidi Jark, senior 11.0%
vice president and managing +
director of the Foundation Office 52
Keyword: governance
442023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Disaster Relief “Fifth Third looks across its Matching Gifts & the
sustainability priorities to
The Fifth Third Foundation also helps provide support when Fifth Third Scholarship Program
determine the best use of our
disasters and crises strike. We provide financial support and
corporate giving dollars,” said Fifth Third encourages philanthropy and donations by our
also deploy our resources into the communities where we can
Melissa Blount-Garner, senior vice employees in support of organizations and causes they
help—whether that be with basic and immediate needs of food,
president & Head, CRO Strategic support. Through the Fifth Third Foundation, we are able to
water and shelter or more long-term needs like accessing
support emplo
Keyword: governance
452023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Fifth Third Day “We prioritize
taking care of our
One in seven people face hunger in America today—a
communities. By
30% increase in the last year, according to Feeding
supporting various
America. This problem is more acute for children, seniors
hunger-focused
and high minority communities. Fifth Third has taken up
organizations, we
the cause to eradicate hunger in our footprint with a
are fulfilling one of
The Fifth Third team Chairman, CEO and President
concentrated effort each year.
proudly donated significant Tim Spence helped pack food
the basic needs
funds to Feeding America with employees at Fifth Third
We strive to turn our special holiday (May 3 or 5/3 on the calendar) into a special month and the local Freestore Center.
Keyword: governance
462023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Fifth Third Day Babies Born
in Charlotte and Louisville
Fifth Third Day—Year Over Year
Fifth Third Bank helped to welcome 94 babies born in our
Charlotte and Louisville markets on Fifth Third Day, May 3. results from 2022 to 2023
As part of an event that Fifth Third has sponsored for several
years in various markets, we partnered with 17 local hospitals in
the areas surrounding the two cities and welcomed babies born
on our special holiday with special gifts, including $1,053 each Volunteerism Hours
for college savings in the form of a 529 college savings plan.
22.8%
5,198 hrs
Altogether, the Bank provided $98,982 in college savings funds
to the newest residents of Charlotte and Louisville. Between increase
6,381 hrs
Fifth Third D
Keyword: governance
472023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Promoting Inclusion and Diversity
Fifth Third has long believed that fostering an inclusive experience for employees,
suppliers, customers and communities is essential to our broader purpose of
creating an inclusive future with equal access and opportunity to thrive for all.
We strive to uphold the highest principles of diversity, equity, inclusion and
belonging in our relationships with others and to create products and experiences
that reflect the diversity of those we serve.
IN THIS SECTION
Fostering an Inclusive Culture 49
Employee Demographics 50
Multicultural Recruitment Strategy 51
Empowering Individuals with Disabilities 52
Connecting and Serving 53
Supplier Diversity 56
482023 Sustainability Report Contents Introduction C
Keyword: governance
ommunities Inclusion Employees Customer Climate Governance Appendix
Fostering an Inclusive Culture
Fifth Third has been recognized as a
Our accolades include:
leader in building an engaging, inclusive
• A 100% rating on the Corporate Equality Index administered by
employee experience, a strong supplier
the Human Rights Campaign Foundation. The index is the
base and vibrant communities. nation’s premier benchmarking survey and report on corporate
policies and practices related to LGBTQ+ workplace equality.
In 2023, we provided opportunities to connect and share This is the Bank’s eighth consecutive 100% score.
insights and feedback on mitigating bias and having critical
• 100 score on the 2023 Disability Equality Index and named one
conversations. Employees continued their unconscious bias
of the B
Keyword: governance
492023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Employee Demographics
Because of our commitment to a more inclusive workplace, Fifth Third has been at the forefront of publishing demographic diversity statistics since 2017. It is of utmost importance at every
level of our Company, from our Board of Directors to our executive team for our 18,499 full-time and 649 part-time employees as of Dec. 31, 2023. The purpose of publishing this data is to
understand where we are in our journey to create equal opportunities for all.
4
2023 Workforce Diversity
Our success is built on creating an environment that is equitable, inclusive
and fosters growth for all employees.
Our journey is ever evolving, and our focus and progress in creating an
Black/ Hawaiian/
inclusive workplace for all emp
Keyword: governance
502023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Multicultural Recruitment Strategy
To attract the most talented employees we need access to individuals from the widest talent
pool available. Recruiting diverse talent strengthens our mission to enhance the lives of
Other multicultural recruiting
tomorrow’s leaders. Our multicultural recruitment strategy enables us to build strong
relationships with a pool of qualified applicants. highlights included:
As such, we have deepened our relationships with traditional colleges, and numerous multicultural
• In partnership with University of Dayton’s National Society
student organizations on campuses to strengthen the pipeline of multicultural talent.
of Black Engineers (NSBE) chapter, the University
Relations team hosted an on-site infor
Keyword: governance
512023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Empowering Individuals with Disabilities
We believe everyone deserves to enjoy Fifth Third was the first bank to design a Serving the Neurodiverse Fifth Third also became a corporate partner of
professional and personal well-being. Our 19- checking account for the ABLE program. Our Disability:IN in June 2023. This organization is
Fifth Third continues to partner with Integrate
year leadership of Project SEARCH, a school- ABLE accounts are a result of our work with the leading nonprofit resource for business
Autism Employment Advisors to offer
to-work transition program for high school the National ABLE Alliance, a consortium disability inclusion worldwide. Their network
employment opportunities to neurodivergent
students with disa
Keyword: governance
522023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Connecting and Serving
Fifth Third is committed
to advancing and
supporting inclusion in
the communities where
we live, work and serve.
We are proud to make
impactful financial
commitments and we
look for opportunities to
Inclusive Art Reaches New Heights Building Community Creating An Urban Oasis
foster a greater sense of
Relationships in South Florida
Among the most impactful ways that Fifth In honor of Hispanic Heritage Month, the
belonging in service to
Third supports inclusion is through our Our employees are committed to advancing Multicultural BRG in Northern Ohio supported
the cause and to support of inclusive art. In 2023, Fifth Third equity and inclusion by connecting with and the Sofia Quintero Art & Cultural Center.
ho
Keyword: governance
532023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Inclusion Councils and
Business Resource Groups
Fifth Third’s BRGs
Our business resource groups connect thousands of
employees who activate the three pillars of our BRGs:
employee development, community involvement and
business innovation. The pillars are in place to advance
networking opportunities, personal growth and
development, celebrate cultural moments, and offer an
outlet for community outreach and volunteerism. They
also provide a forum to celebrate and embrace each
employee’s individuality and our collective diversity.
More than 5,100 Fifth Third employees participate in one or
more of our BRGs—a 13.6% increase since 2022. BRG
membership is open to all employees and they can join any
BRG they wish.
Fifth Third has 13 inc
Keyword: governance
542023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Supporting Military Employees Bringing Awareness to Veteran Experience overgrown brush and completing small maintenance
projects. The BRG has been volunteering with Modcon
Fifth Third has a long history of supporting military The Military EBRG held a virtual event open to all employees
(formerly Rebuilding Together) for several years.
veterans, both employees and customers alike. Our to observe Veterans Day. Approximately 150 employees
“It’s critically important that we remember there are many
enhanced paid military leave guidelines, developed with participated and heard remarks from Jamie Leonard, chief
veterans who could use our help, as they may be struggling
feedback from our Military BRG, provides for 20 days of paid financia
Keyword: governance
2023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Tier 1
12.0% $122.5
$119.6
11.0%
10.0%
9.0% $89.0
Fifth Third’s Supplier Diversity Spend
8.0%
$77.1 $75.5
7.0%
Since the inception of the Supplier Diversity program, $65.0
$63.3
Fifth Third has grown its spending with Tier 1 diverse suppliers 6.0%
from $7.5 million in 2014 to $122.52 million in 2023.
5.0%
4.0%
% $ (in millions)
3.0%
$18.4
2.0%
$10.5
$7.5
1.0%
0.9% 1.3% 2.7% 8.8% 9.6% 7.4% 7.2% 8.6% 11.1% 11.2%
—%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
562023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Supplier Diversity Accolades Through the years, Fifth Third has developed Those include the National Minority Supplier
numerous partnerships with organiz
Keyword: governance
572023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
“Without this sponsorship, I don't
Kala Gibson Elected Chair of
National Minority Supplier Development think we would have had a good
Council’s Board of Directors grasp on how to make the
At the NMSDC’s conference in October 2023, Kala Gibson was proper connections we need to
elected Board Chair of the National Minority Supplier scale our business nationwide.
Development Council’s 2024 National Board of Directors. His
term began on January 1, 2024. He previously served on Crystal Render
NMSDC’s Executive Committee. CEO and founder of Magnificent Morsels
For over five decades, NMSDC has been committed to meeting
the procurement needs of America’s leading corporations,
universities, hospitals, and government organizations, which
has
Keyword: governance
582023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Delivering our Commitment to Employees
The talent, passion and commitment of our employees have always been at the
center of our success. Who they are and how they perform is what helps us build
great relationships with our customers and the communities we serve. Their
individual and collective contributions, meaningful connections, innovative ideas,
inclusion, collaboration and commitment drive our ambition to be the One Bank
people most value and trust.
IN THIS SECTION
Strategic Priorities 60
Employee Voices Matter 61
Empowering Employee 62
Development
Recruiting the Best and Brightest 65
Performance Management 66
Talent Management Process 67
Compensation 68
Caring for Employees 69
592023 Sustainability Report Contents Introduct
Keyword: governance
ion Communities Inclusion Employees Customer Climate Governance Appendix
Strategic Priorities
Accolades for Human
Capital and Fifth Third
Keeping Our Employees at the Center “A vibrant employee experience is vital Fifth Third was named a National Top
Workplaces USA by Energage in 2023 for
Our people are the driving force behind our ability to to our success. In 2023, we worked to the third year in a row. The Bank participates
deliver innovative and sustainable long-term value to all foster a culture of connection, annually in Energage’s Top Workplaces
we serve. We have made significant investments in program. Additional recognition included:
belonging and performance where
strengthening our employee experience and employee • Industry Award for Financial Services.
value proposition, deepening our focus
Keyword: governance
602023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Employee Voices Matter
New Methodology Provides Holistic
View of Full Employee Experience
Listening, engaging and connecting with employees improves their experience and
strengthens our organization. Fifth Third’s continuous listening strategy is grounded
in this philosophy and is foundational to the employee experience and our culture.
Our approach to collecting, measuring and responding to employee feedback ensures
that we engage with employees at key moments in the employee lifecycle and during
times of change in our business or work environment.
To further strengthen our continuous listening strategy, Fifth Third moved to a more
holistic methodology to analyze and measure the employee experience. The
methodology assesses the b
Keyword: governance
612023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Empowering Employee Development
When we invest in employee Career Mobility Developing Our People
development and growth, we drive our Our employees believe that career and development is a New learning and development solutions launched in 2023,
key driver of their experience. We strive to create an providing a more comprehensive learning experience for all
future business success. Fifth Third’s
environment in which we understand our employees’ career employees. Among them was a new Banking Basics course
learning and development strategy goals, cultivate their talents and enable their success by designed to help Fifth Third employees understand the
providing access to the skill-building, experiences, and tools banking industry and
Keyword: governance
622023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Compliance Training Fueling What’s Next Navigating Critical
Each year, Fifth Third requires all employees to complete Every employee has a unique journey, and we want each of Conversations for Leaders
training courses on a number of important topics, including them to achieve their full potential. Degreed, our online Fifth Third people leaders continued developing skills to
risk and compliance courses that support strong risk learning platform, is the centralized portal for learning and effectively navigate critical conversations that help build stronger
management behaviors and accountability. A set of courses development resources. It empowers all employees to build relationships. The learning journey was developed in partnershi
Keyword: governance
632023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Cultivating Talent, Supporting Success Education Assistance Program
For over 30 years, Fifth Third has advocated for early career Fifth Third encourages employees to enroll in outside Internal Talent Drives Improvements
support for individuals seeking careers in financial services. education programs to broaden their knowledge, and to
Fifth Third Learning Product Owner
Fifth Third provides early career opportunities for encourage career development. We provide assistance for
Chris Price created a comprehensive,
professionals who are new to the industry, students, and external education, through tuition reimbursement to full-
blended training program called
recent graduates. The opportunities include both direct-hire and part-time
Keyword: governance
642023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Recruiting the Best and Brightest
Attracting strong talent is essential to our Early Career/University Relations Other Early Career and University Relations
success. The combination of competitive We expanded our reach by engaging with highlights include:
compensation, flexible work locations, first hundreds of students through workshops, • 120 events, including career fairs, student-
class benefits, innovative programs that information and listening sessions, led conferences, networking events,
foster work-life balance, financial rewards professional development panels and a professional development workshops and
for physical and financial wellness activities, financial wellness series. guest lecturer opportunities.
and the Bank’
Keyword: governance
652023 Sustainability Report Contents Introduction Communities Inclusion Employees Customer Climate Governance Appendix
Performance Management
Fifth Third asks all employees to reflect on how they’re doing
today, where they want to be tomorrow and what they value
most in their work and relationships. We also encourage
employees to be intentional about the experiences, exposure
to others, education opportunities and work environment that
will increase their learning and help them achieve
their goals.
Recognizing the value and impact of employee performance is vital to maintaining a strong
culture and helps optimize both individual and collective success to balance both what and how
results are achieved.
Managers engage with their employees in regular performance and development conversations
to ensure the employees understand expectations, share the