Truist
Truist Financial Corporation, commonly known as Truist, is a prominent American bank headquartered in Charlotte, North Carolina. Established in 2019 through the merger of BB&T and SunTrust, Truist has quickly become a key player in the financial services industry, primarily serving the Southeastern and Mid-Atlantic regions of the United States. Truist offers a comprehensive range of banking and financial solutions, including personal and commercial banking, investment services, and insurance. What sets Truist apart is its commitment to innovation and customer-centric solutions, aiming to enhance the banking experience through technology and personalised service. With a strong market position, Truist is recognised for its robust asset base and extensive branch network, making it one of the largest financial institutions in the US. The company continues to achieve significant milestones, reinforcing its dedication to community engagement and sustainable growth.
DitchCarbon Score
How does Truist's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Truist's score of 46 is higher than 70% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Truist's reported carbon emissions
In 2023, Truist reported total carbon emissions of approximately 137,650,000 kg CO2e from Scope 1, 210,000 kg CO2e from Scope 2, and 34,824,000 kg CO2e from Scope 3 emissions. The Scope 1 emissions primarily stem from direct operations, while Scope 2 emissions are associated with purchased electricity, and Scope 3 emissions include business travel and fuel-related activities. Comparatively, in 2022, Truist's emissions were about 14,535,000 kg CO2e for Scope 1, 168,687,000 kg CO2e for Scope 2, and 25,723,000 kg CO2e for Scope 3. This indicates a slight decrease in Scope 1 emissions and an increase in Scope 2 emissions year-on-year. Truist has achieved a significant milestone by reducing energy consumption by 25% from 2016 to 2019, which equated to a reduction of about 1.32 million pounds of carbon dioxide. This reduction was accomplished through initiatives aimed at cutting electricity use by approximately 845,000 kilowatt-hours annually. Truist's emissions data is sourced directly from Truist Financial Corporation, with no cascaded data from parent or related organisations. The company has not publicly committed to specific Science-Based Targets Initiative (SBTi) targets at this time.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 17,524,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 218,277,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 100,208,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Truist is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
