SunTrust Banks, Inc. Sustainability Profile
SunTrust Banks, Inc., commonly referred to as SunTrust, is a prominent financial institution headquartered in the United States. Established in 1891, the bank has evolved significantly, becoming a key player in the banking industry, particularly in the Southeastern region of the country. SunTrust offers a comprehensive range of services, including personal banking, commercial banking, investment services, and wealth management. Its commitment to customer service and innovative financial solutions sets it apart in a competitive market. With a strong market position, SunTrust has achieved notable milestones, including its merger with BB&T in 2019, which expanded its footprint and enhanced its service offerings. The bank continues to focus on delivering unique financial products tailored to meet the diverse needs of its clients.
DitchCarbon Score
How does SunTrust Banks, Inc.'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
SunTrust Banks, Inc.'s score of 47 is higher than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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In 2018, SunTrust Banks, Inc. reported total carbon emissions of approximately 5,335,369 kg CO2e for Scope 1 and about 71,864,270 kg CO2e for Scope 2. The organisation has not disclosed any Scope 3 emissions data. As part of its climate commitments, SunTrust has not set specific reduction targets or initiatives, nor does it participate in the Science Based Targets initiative (SBTi). The emissions data is cascaded from its parent company, Truist Financial Corporation, reflecting the merged entity's performance. SunTrust's emissions profile highlights the significant impact of its operational activities, particularly in Scope 2 emissions, which are primarily associated with purchased electricity. The absence of reduction targets indicates a potential area for future commitment to sustainability and climate action.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 17,524,000 | 00,000,000 | 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 | 000,000,000 |
| Scope 3 | 90,435,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 |
How Carbon Intensive is SunTrust Banks, Inc.'s Industry?
How Carbon Intensive is SunTrust Banks, Inc.'s Location?
SunTrust Banks, Inc.'s Scope 3 Categories Breakdown
SunTrust Banks, Inc.'s Scope 3 emissions, which increased by 338% last year and increased by approximately 318% since 2019, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 74% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 73% of Scope 3 emissions.
Top Scope 3 Categories
SunTrust Banks, Inc.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
SunTrust Banks, Inc. has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
