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 49 is higher than 71% 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 significant carbon emissions, with Scope 1 emissions totalling approximately 13,765,000 kg CO2e and Scope 3 emissions reaching about 98,641,000 kg CO2e. This data highlights the company's ongoing environmental impact, particularly in its operational and supply chain activities. Truist has made notable strides in reducing its carbon footprint. From 2016 to 2019, the company achieved a 25% reduction in energy consumption, which equated to a decrease of about 1.32 million pounds of carbon dioxide emissions. This achievement was realised three years ahead of its initial goal, demonstrating a proactive approach to energy efficiency. While Truist has not publicly committed to specific long-term reduction targets for Scope 1 and 2 emissions, the company is part of a broader industry movement towards sustainability. For instance, other organisations, such as Walgreens Boots Alliance, have set ambitious targets to reduce their absolute Scope 1 and 2 emissions by 30% by 2030, relative to a 2019 baseline. Truist's emissions data is sourced directly from Truist Financial Corporation, with no cascading from a parent or related organisation. The company continues to explore initiatives aimed at enhancing its sustainability practices and reducing its overall carbon emissions.
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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.
