Fifth Third Celebrates Five Years of 100% Renewable Power
Fifth Third Bank celebrates five years of 100% renewable power, achieved through the Aulander Holloman solar project in North Carolina, which opened in August 2019. The bank's commitment, set in 2017, covers over 1,000 locations across 11 states. The project, enabled by a virtual power purchase agreement (VPPA), generates more power than the bank uses, providing renewable energy certificates (RECs) as proof of renewable energy use.
In 2023, the facility generated over 190,000 megawatt hours, powering 25,000 homes or offsetting emissions from 29,000 vehicles. Fifth Third has expanded its renewable efforts, installing solar panels at 20 new financial centers across four states. The bank has reduced grid-based energy use by over 40%, aligning with its aggressive 2022 operational sustainability targets.
Fifth Third Bank celebra cinque anni di energia rinnovabile al 100%, raggiunta grazie al progetto solare Aulander Holloman nella Carolina del Nord, inaugurato ad agosto 2019. L'impegno della banca, fissato nel 2017, copre oltre 1.000 località in 11 stati. Il progetto, reso possibile da un accordo di acquisto di energia virtuale (VPPA), genera più energia di quanta ne utilizzi la banca, fornendo certificati di energia rinnovabile (REC) come prova dell'uso di energia rinnovabile.
Nel 2023, la struttura ha generato oltre 190.000 megawattora, alimentando 25.000 abitazioni o compensando le emissioni di 29.000 veicoli. Fifth Third ha ampliato i suoi sforzi rinnovabili, installando pannelli solari in 20 nuovi centri finanziari in quattro stati. La banca ha ridotto l'uso di energia dalla rete di oltre il 40%, allineandosi con i suoi ambiziosi obiettivi di sostenibilità operativa per il 2022.
Fifth Third Bank celebra cinco años de uso de energía 100% renovable, logrado a través del proyecto solar Aulander Holloman en Carolina del Norte, que abrió sus puertas en agosto de 2019. El compromiso del banco, establecido en 2017, cubre más de 1,000 ubicaciones en 11 estados. El proyecto, habilitado por un acuerdo de compra de energía virtual (VPPA), genera más energía de la que el banco utiliza, proporcionando certificados de energía renovable (RECs) como prueba del uso de energía renovable.
En 2023, la instalación generó más de 190,000 megavatios-hora, suministrando energía a 25,000 hogares o compensando las emisiones de 29,000 vehículos. Fifth Third ha ampliado sus esfuerzos de energía renovable, instalando paneles solares en 20 nuevos centros financieros en cuatro estados. El banco ha reducido el uso de energía de la red en más del 40%, alineándose con sus agresivas metas de sostenibilidad operativa para 2022.
Fifth Third Bank는 2019년 8월에 개소한 노스캐롤라이나의 Aulander Holloman 태양광 프로젝트를 통해 100% 재생 가능 에너지를 달성한 지 5주년을 기념합니다. 2017년에 설정한 은행의 약속은 11개 주에 걸쳐 1,000개 이상의 장소를 포함합니다. 가상 전력 구매 계약(VPPA)에 의해 가능해진 이 프로젝트는 은행이 사용하는 것보다 더 많은 전력을 생성하며, 재생 가능 에너지 사용의 증명으로 재생 가능 에너지 인증서(RECs)를 제공합니다.
2023년에는 이 시설이 190,000메가와트시 이상의 전력을 생산하여 25,000 가구에 전력을 공급하거나 29,000대의 차량에서 나오는 배출량을 상쇄했습니다. Fifth Third는 4개 주의 20개 신규 금융 센터에 태양광 패널을 설치하는 등 재생 가능 노력을 확대했습니다. 은행은 2022년의 공격적인 운영 지속 가능성 목표에 맞춰 40% 이상의 전력 사용량을 줄였습니다.
Fifth Third Bank célèbre cinq ans d'énergie 100% renouvelable, obtenue grâce au projet solaire Aulander Holloman en Caroline du Nord, qui a ouvert en août 2019. L'engagement de la banque, établi en 2017, couvre plus de 1 000 emplacements dans 11 états. Le projet, rendu possible par un accord d'achat d'énergie virtuelle (VPPA), génère plus d'énergie que la banque n'en utilise, fournissant des certificats d'énergie renouvelable (REC) comme preuve de l'utilisation d'énergie renouvelable.
En 2023, l'installation a généré plus de 190 000 mégawattheures, alimentant 25 000 foyers ou compensant les émissions de 29 000 véhicules. Fifth Third a élargi ses efforts en matière d'énergie renouvelable, en installant des panneaux solaires dans 20 nouveaux centres financiers dans quatre états. La banque a réduit son utilisation d'énergie empruntée au réseau de plus de 40%, s'alignant sur ses ambitieux objectifs de durabilité opérationnelle pour 2022.
Die Fifth Third Bank feiert fünf Jahre zu 100% erneuerbare Energie, die durch das Aulander Holloman Solarprojekt in North Carolina erreicht wurde, das im August 2019 eröffnet wurde. Das Engagement der Bank, das 2017 festgelegt wurde, umfasst über 1.000 Standorte in 11 Bundesstaaten. Das Projekt, das durch eine virtuelle Stromkaufvereinbarung (VPPA) ermöglicht wurde, erzeugt mehr Energie, als die Bank benötigt, und stellt erneuerbare Energiezertifikate (RECs) als Nachweis für die Nutzung erneuerbarer Energie aus.
Im Jahr 2023 erzeugte die Anlage über 190.000 Megawattstunden, was 25.000 Haushalte versorgt oder die Emissionen von 29.000 Fahrzeugen ausgleicht. Fifth Third hat ihre Bemühungen um erneuerbare Energien ausgeweitet und in 20 neuen Finanzzentren in vier Bundesstaaten Solarmodule installiert. Die Bank hat den Energieverbrauch aus dem Netz um über 40% reduziert und sich damit an ihren ehrgeizigen Zielen für betriebliche Nachhaltigkeit 2022 orientiert.
- None.
- None.
The Aulander Holloman solar project opened in late August 2019
The Aulander Holloman Solar Facility is located in
In late August 2019, Fifth Third achieved this goal with the opening of the Aulander Holloman solar facility in
As part of the agreement, and in return for Fifth Third’s financial guarantee, the Bank receives claims for adding net-new renewable capacity to the regional grid in the form of renewable energy certificates (RECs). RECs are issued when one megawatt hour of electricity is generated and delivered to the electricity grid from a renewable energy resource. Appropriately verified and retired RECs act as a proof of generating and using renewable energy. As an industry best practice, Fifth Third uses a combination of RECs, onsite renewable energy, and ongoing energy-efficiency measures across the enterprise to power its operations with
“Ultimately, the power purchase agreement has meant that we put more power into the nation’s electricity grid than we use with all our facilities combined,” said Pratik Raval, chief sustainability officer for Fifth Third. “Additionally, and equally importantly, this has proven to be a smart financial decision, particularly as an energy price hedging mechanism for the Bank. In that regard, this is a great example of sustainability as a driver for direct business value creation while mitigating our climate impact.”
In 2023, the solar power generation from the Aulander Holloman solar facility was more than 190,000 megawatt hours – enough to power over 25,000 homes, or the equivalent of emissions from over 29,000 passenger vehicles.
Fifth Third has continued to build upon its commitment to renewable energy by installing solar panels at 20 new financial centers at the end of 2023 and into 2024. These projects took place in communities across
Fifth Third’s use of solar power, combined with internal efforts to reduce energy use, have helped the Bank reduce enterprise-wide grid-based energy use by more than
“These goals are the most aggressive operations sustainability goals we’ve had to date,” Pratik said. “They maintain our focus on critical areas of operational sustainability while demonstrating our continued leadership in the financial services industry.”
More information about Fifth Third’s sustainability strategy is available in the Bank’s 2023 Sustainability Report.
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
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. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240904986205/en/
Amanda Nageleisen (Media Relations)
amanda.nageleisen@53.com
Matt Curoe (Investor Relations)
matthew.curoe@53.com | 513-534-2345
Source: Fifth Third Bank
FAQ
How did Fifth Third Bank achieve 100% renewable power in 2019?
What was the energy output of Fifth Third's solar facility in 2023?
How many new financial centers did Fifth Third (FITB) equip with solar panels recently?
What percentage of grid-based energy use has Fifth Third reduced?
When did Fifth Third Bank (FITB) set its goal for 100% renewable power?
