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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 market-based carbon emissions of approximately 488.7 million kg CO2e in 2024. This figure encompasses Scope 1, Scope 2 market-based, and disclosed Scope 3 emissions.
Delving into the specifics for 2024:
- Scope 1 emissions were about 13.38 million kg CO2e.
- Scope 2 market-based emissions were approximately 119.01 million kg CO2e.
- Disclosed Scope 3 emissions totalled around 348.8 million kg CO2e, including:
- Purchased goods and services: 274.86 million kg CO2e
- Capital goods: 38.2 million kg CO2e
- Fuel and energy-related activities: 28.36 million kg CO2e
- Business travel: 22.3 million kg CO2e
- Waste generated in operations: 8.2 million kg CO2e
- Upstream leased assets: 1.48 million kg CO2e
For 2023, Truist reported total market-based carbon emissions of approximately 229.8 million kg CO2e, with some Scope 3 categories undisclosed. In 2022, the total market-based emissions were approximately 262.1 million kg CO2e.
Truist's climate commitments include a notable achievement by its heritage company, BB&T. In 2019, BB&T surpassed its goal by achieving a 25% reduction in Scope 1 and Scope 2 energy usage three years ahead of schedule, equating to a reduction of about 1.32 million pounds of carbon dioxide.
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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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