Truist Sustainability Profile
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 54 is higher than 72% 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 2024, Truist reported total carbon emissions of approximately 13382000 kg CO2e for Scope 1, 119012000 kg CO2e for Scope 2 (market-based), and significant Scope 3 emissions, including 274861000 kg CO2e from purchased goods and services. In 2023, the company recorded 12840000 kg CO2e for Scope 1, 131359000 kg CO2e for Scope 2 (market-based), and 25809000 kg CO2e from business travel within its Scope 3 emissions. Truist has made notable strides in reducing its carbon footprint, achieving a 25% reduction in energy consumption by 2019, three years ahead of its target. This reduction was accomplished through initiatives that cut electricity use by approximately 845,000 kilowatt-hours annually, equating to a decrease of about 1.32 million pounds of carbon dioxide. The emissions data is sourced directly from Truist Financial Corporation, with no cascading from a parent organisation. The company continues to focus on its climate commitments, although specific Science-Based Targets (SBTi) have not been established.
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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 Truist's Industry?
How Carbon Intensive is Truist's Location?
Truist's Scope 3 Categories Breakdown
Truist'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
Truist'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.
Truist 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.
