Yahoo Finance Fifth Third Joins Mastercard’s Priceless Planet Coalition
Effort Promotes Tree Restoration and Reforestation
CINCINNATI, April 22, 2024--(BUSINESS WIRE)--As part of its commitment to combat climate change and in celebration of Earth Day 2024, Fifth Third Bank today announced it has joined Mastercard’s Priceless Planet Coalition, an effort to restore 100 million trees across the globe by 2025. By signing onto the coalition, Fifth Third will do its part and help to restore 10,000 trees.
The Priceless Planet Coalition is a valuable international program that helps promote tree restoration across six continents with 18 reforestation projects to create maximum impact. The lone project in the United States is located in the Commonwealth of Kentucky, one of Fifth Third’s footprint states. Addressing climate change is one of Fifth Third’s five key corporate sustainability priorities.
"Reforestation is a key cog in the wheel of addressing climate change," said Jeremy Faust, director of environmental sustainability, Fifth Third Bank. "We are proud to partner with Mastercard on their innovative and unique initiative to help make a measurable difference. The efforts are helping to create jobs as well as have positive, measurable effects on our natural environment."
In Kentucky, a degraded mine site in Appalachia is being reforested by planting shortleaf pine and oak trees to improve air and water quality, enhance forest resiliency, and mitigate climate change through increased carbon accumulation. The reforestation project also will provide pollen and nectar sources for pollinators and attract more wildlife. Partners with Mastercard on the Kentucky forest project are Conservation International and Green Forests Work (GFW).
Fifth Third’s Purpose is to improve lives and the well-being of its communities. The Bank’s five sustainability priorities are keeping the customer at the center, building strong communities, delivering on commitments to employees, promoting inclusion and diversity, and addressing climate change to create a more inclusive and sustainable world. To learn more about Fifth Third’s Sustainability initiatives, click here. Our report on Community Impact is available here.
About Fifth Third
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 the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.
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Contacts
Adrienne Gutbier (Media Relations)
adrienne.gutbier@53.com | 513-534-8038
Matt Curoe (Investor Relations)
matt.curoe@53.com | 513-534-2345
