Lobbying Governance
Overall Assessment | Analysis | Score |
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Moderate |
Fifth Third’s governance of climate-related lobbying shows some formal oversight for indirect advocacy but lacks clear alignment mechanisms for direct lobbying or climate objectives. It has established a Climate Risk Council “chaired by the climate risk officer” that “was established in 2021 to coordinate the effective identification, management and reporting of climate-related risks impacting the Bank, and to support appropriate awareness and training efforts,” with members who “participate in the trade association discussions and provide the council with periodic updates as necessary,” indicating a mechanism to monitor indirect lobbying through industry associations. The bank also notes that “advocacy efforts are executed at the local, state and federal level by registered lobbyists” and that “Fifth Third’s political contributions are governed by the Government Affairs Policy. The Nominating and Corporate Governance Committee of the Board reviews political contributions semiannually and approves the policy annually,” demonstrating formal oversight of political spending. However, the company does not disclose any specific policy or process for ensuring that its direct lobbying aligns with its climate objectives, provides no published audit or report on climate-lobbying alignment, and we found no evidence of a targeted review of both direct and indirect lobbying activities against its climate strategy or a public commitment to conduct engagement in line with the goals of the Paris Agreement.
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