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Truist Financial Corporation, commonly known as Truist, is a prominent player in the United States' financial intermediation sector, specialising in banking and financial services. Headquartered in Charlotte, North Carolina, Truist serves a broad client base across the US, offering a comprehensive range of retail, commercial, and wealth management solutions. Founded in 2019 through the merger of BB&T and SunTrust Banks, Truist quickly established itself as a leading financial institution with a focus on innovative banking products and personalised service.
The company’s core offerings include deposit accounts, lending, investment management, and treasury services, distinguished by their customer-centric approach and technological integration. Recognised for its stability and growth, Truist has secured a notable position within the industry, continually expanding its footprint and enhancing its service capabilities to meet evolving market demands.
47
DitchCarbon score
+10 vs industry average
Truist’s score of 47 is higher than 62% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
20202021202220232024202520262027
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Truist's reported carbon emissions
Truist, a US-based financial intermediation services company, reported its 2024 emissions at approximately 488.7 million kg CO2e. This includes Scope 1 emissions of 13.38 million kg CO2e, market-based Scope 2 emissions of 119.01 million kg CO2e, and Scope 3 emissions of approximately 399.99 million kg CO2e. Key Scope 3 contributors include purchased goods and services (274.86 million kg CO2e), capital goods (38.2 million kg CO2e), and fuel- and energy-related activities (28.36 million kg CO2e).
For 2023, Truist's disclosed emissions included Scope 1 at 12.84 million kg CO2e and market-based Scope 2 at 131.36 million kg CO2e. Reported Scope 3 categories for 2023 were business travel (25.81 million kg CO2e), upstream leased assets (1.29 million kg CO2e), waste generated in operations (6.84 million kg CO2e), and fuel- and energy-related activities (52.49 million kg CO2e), with purchased goods and services data missing.
Looking back, in 2022, Truist reported Scope 1 emissions of 13.43 million kg CO2e and market-based Scope 2 emissions of 168.69 million kg CO2e. Their 2022 Scope 3 emissions included business travel (19.83 million kg CO2e) and fuel- and energy-related activities (60.2 million kg CO2e). In 2021, Scope 1 emissions were 12.74 million kg CO2e, and market-based Scope 2 emissions were 171.49 million kg CO2e. Scope 3 in 2021 featured business travel (8.46 million kg CO2e) and fuel- and energy-related activities (65.89 million kg CO2e). For 2020, Truist's Scope 1 emissions were 12.97 million kg CO2e, and market-based Scope 2 emissions were 183.89 million kg CO2e, with Scope 3 including business travel (8.78 million kg CO2e) and fuel- and energy-related activities (49.58 million kg CO2e). In 2019, Scope 1 emissions stood at 17.52 million kg CO2e, and market-based Scope 2 emissions were 218.28 million kg CO2e. Scope 3 in 2019 included business travel (33.67 million kg CO2e) and fuel- and energy-related activities (56.77 million kg CO2e).
Truist has set reduction targets, with its heritage company BB&T achieving a 25% reduction in both Scope 1 and Scope 2 emissions between 2016 and 2019. This was three years ahead of schedule, achieved by cutting electricity use by 845,000 kilowatt-hours annually, equating to a reduction of approximately 1.32 million pounds of carbon dioxide. Truist's climate commitments and performance data are directly reported by Truist Financial Corporation.
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Truist’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
On track94%
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
At risk48%
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Behind target22%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
6 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
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Not active
Carbon Disclosure Project
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Active
The Climate Pledge
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Not active
UN Global Compact Climate Champions initiative
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Not active
RE 100
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Not active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Truist10 months ago
47
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