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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 total Scope 1, 2, and 3 emissions for 2024.
In 2024, Truist's emissions included approximately 13.38 million kg CO2e for Scope 1, about 119.01 million kg CO2e for market-based Scope 2, and notable Scope 3 emissions. Key Scope 3 categories included approximately 274.86 million kg CO2e from purchased goods and services, about 38.20 million kg CO2e from capital goods, approximately 28.36 million kg CO2e from fuel and energy-related activities, about 22.30 million kg CO2e from business travel, roughly 8.20 million kg CO2e from waste generated in operations, and approximately 6.38 million kg CO2e from upstream leased assets.
Looking back, Truist's emissions in 2023 included around 12.84 million kg CO2e for Scope 1, approximately 131.36 million kg CO2e for market-based Scope 2, and Scope 3 emissions comprising about 52.49 million kg CO2e from fuel and energy-related activities, roughly 25.81 million kg CO2e from business travel, about 6.84 million kg CO2e from waste generated in operations, and approximately 1.29 million kg CO2e from upstream leased assets. It should be noted that Scope 3 purchased goods and services data was not available for 2023.
In 2022, Truist reported approximately 13.43 million kg CO2e for Scope 1 and around 168.69 million kg CO2e for market-based Scope 2. Scope 3 emissions in 2022 included about 60.20 million kg CO2e from fuel and energy-related activities and approximately 19.83 million kg CO2e from business travel. Similar to 2023, Scope 3 purchased goods and services data was not available for 2022.
Truist has also demonstrated efforts in emissions reduction. A heritage company, BB&T, achieved a 25% reduction in Scope 1 and Scope 2 emissions between 2016 and 2019, three years ahead of its goal. This was achieved by cutting electricity use by 845,000 kilowatt-hours annually, which equates to a reduction of about 1.32 million pounds of carbon dioxide. Truist's climate commitments are aligned with its own operations and are not cascaded from a parent organization.
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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
Truist11 months ago
47
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