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.
+12 vs industry average
Truist’s score of 47 is higher than 64% 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
Financial Intermediation is among the least carbon-intensive industries
Industry performance
The Financial Intermediation industry has increased its overall emissions by 11% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Truist's reported carbon emissions
Truist, a US-based financial intermediation services company, reported total absolute emissions of approximately 341,880,000 kg CO2e for the year 2024. This figure encompasses Scope 1, Scope 2, and Scope 3 emissions.
For 2023, Truist's total emissions were approximately 319,420,000 kg CO2e. Scope 1 emissions for 2023 were about 12,840,000 kg CO2e, while Scope 2 emissions (market-based) were approximately 131,359,000 kg CO2e. Scope 3 emissions for 2023 included business travel at roughly 25,809,000 kg CO2e, upstream leased assets at about 1,286,000 kg CO2e, waste generated in operations at approximately 6,835,000 kg CO2e, and fuel and energy-related activities at about 52,493,000 kg CO2e. Data for purchased goods and services within Scope 3 was missing for 2023.
The company's Scope 1 emissions for 2022 were approximately 13,427,000 kg CO2e, with Scope 2 emissions (market-based) at around 168,687,000 kg CO2e. Scope 3 emissions in 2022 included business travel (approximately 19,834,000 kg CO2e) and fuel and energy-related activities (about 60,196,000 kg CO2e). Purchased goods and services within Scope 3 were also not reported for 2022.
In 2021, Truist's Scope 1 emissions stood at approximately 12,740,000 kg CO2e, and Scope 2 emissions (market-based) were around 171,492,000 kg CO2e. Scope 3 emissions for that year included business travel (approximately 8,456,000 kg CO2e) and fuel and energy-related activities (about 65,893,000 kg CO2e). Purchased goods and services within Scope 3 were not disclosed.
Emissions data for 2020 indicates Scope 1 emissions of approximately 12,972,000 kg CO2e and Scope 2 emissions (market-based) of about 183,892,000 kg CO2e. Scope 3 emissions included business travel at roughly 8,780,000 kg CO2e and fuel and energy-related activities at approximately 49,582,000 kg CO2e. Purchased goods and services within Scope 3 were also not reported.
For 2019, Truist reported Scope 1 emissions of approximately 17,524,000 kg CO2e and Scope 2 emissions (market-based) of about 218,277,000 kg CO2e. Scope 3 emissions included business travel at approximately 33,667,000 kg CO2e and fuel and energy-related activities at about 56,768,000 kg CO2e. Purchased goods and services within Scope 3 were not disclosed.
Truist has demonstrated a commitment to emissions reduction. In 2019, heritage BB&T achieved a 25% reduction in energy use, three years ahead of its goal, by implementing programmes that cut electricity use by approximately 845,000 kilowatt-hours annually, resulting in a reduction of about 1.32 million pounds of carbon dioxide. This initiative targeted Scope 1 and Scope 2 emissions.
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Truist’s Climate Goals (2030 & 2050)
2 goals2019
25% reduction in Scope 2
In 2019, three years ahead of its goal, heritage BB&T achieved a 25% reduction in energy by implementing programs to cut electricity use by…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
See all 2 climate goals
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Scope 3 top emissions categories
6 of 15 categories disclosedSee all scope 3 categories
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Emissions comparison with industry peers
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Truist
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