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 for Scope 1, 210,000 kg CO2e for Scope 2 (with a market-based total of 139,612,000 kg CO2e), and 34,824,000 kg CO2e for Scope 3 emissions. This reflects a commitment to transparency in their climate impact, with emissions data disclosed across all three scopes. Notably, Truist's emissions from Scope 1 have decreased from about 14,535,000 kg CO2e in 2022 to 13,765,000 kg CO2e in 2023, indicating a positive trend in reducing direct emissions. The company achieved a significant milestone in 2019, three years ahead of its goal, by implementing energy reduction programmes that resulted in a 25% decrease in energy consumption, equating to a reduction of about 1.32 million pounds (approximately 600,000 kg) of carbon dioxide. Truist's emissions data is not cascaded from any parent organisation, ensuring that their reported figures are solely reflective of their operations. The company continues to focus on sustainability initiatives, although specific science-based targets (SBTi) have not been disclosed. Overall, Truist's commitment to reducing its carbon footprint is evident through its ongoing efforts and historical achievements in energy efficiency.
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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.
