Fifth Third Bank is one of many banks taking energy saving seriously. The Cincinnati-based national bank recently completed a $4 million energy-efficient LED lighting installation project at facilities in four states, which will reduce the Bank’s lighting-related energy consumption by 50%, or 6.3 million kilowatt-hours per year in energy savings.
The bank purchased 30% green power in 2016 and operates 28 Leadership in Energy and Environmental Design (LEED)-certified locations. Last year, Fifth Third began introducing a “Recycling 2.0” strategy that will help increase recycling rates.
Further, the bank is hoping to achieve the following sustainability goals by 2022:
- Reduce energy use by 25%.
- Reduce greenhouse gas emissions by 25%.
- Reduce landfill waste by 20%.
- Reduce water usage by 20%.
- Purchase 100% renewable power.
Bank of America Merrill Lynch has also committed to energy reductions. In May, the bank announced it has joined the Energy Transitions Committee, which consists of a group of leaders from public, private and social sectors that aims accelerate change towards low-carbon energy systems.
Similarly, Deutsche Bank became climate neutral in 2013 and currently provides strategic consulting on various projects to promote private investment in clean energy and technologies, through specialist research teams and cooperation with political decision-makers.