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.
+11 vs industry average
Truist’s score of 46 is higher than 63% 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, headquartered in the US, reported a total of approximately 126.6 billion kg CO2e in emissions for 2024. This figure comprises approximately 13.4 million kg CO2e for Scope 1, approximately 119.0 million kg CO2e for Scope 2 (market-based), and a significant portion from Scope 3 categories including purchased goods and services (approximately 274.9 million kg CO2e) and fuel and energy-related activities (approximately 28.4 million kg CO2e). In 2023, Truist's total emissions were approximately 112.4 billion kg CO2e, with Scope 1 emissions at about 12.8 million kg CO2e and Scope 2 market-based emissions at approximately 131.4 million kg CO2e. Scope 3 emissions for this year included about 25.8 million kg CO2e for business travel and approximately 52.5 million kg CO2e for fuel and energy-related activities. Looking back, Truist's emissions in 2022 totalled approximately 106.7 billion kg CO2e, with Scope 1 at about 13.4 million kg CO2e and Scope 2 market-based emissions around 168.7 million kg CO2e. Scope 3 emissions for 2022 included about 19.8 million kg CO2e for business travel and approximately 60.2 million kg CO2e for fuel and energy-related activities. For 2021, total emissions for Truist were approximately 110.7 billion kg CO2e, with Scope 1 emissions around 12.7 million kg CO2e and Scope 2 market-based emissions at approximately 171.5 million kg CO2e. Scope 3 emissions included about 8.5 million kg CO2e for business travel and approximately 65.9 million kg CO2e for fuel and energy-related activities. In 2020, Truist reported total emissions of approximately 110.1 billion kg CO2e. This included Scope 1 emissions of about 13.0 million kg CO2e and Scope 2 market-based emissions of approximately 183.9 million kg CO2e. Scope 3 emissions accounted for about 8.8 million kg CO2e in business travel and approximately 49.6 million kg CO2e in fuel and energy-related activities. Prior to that, in 2019, Truist's total emissions were approximately 123.9 billion kg CO2e. Scope 1 emissions were about 17.5 million kg CO2e, with Scope 2 market-based emissions at approximately 218.3 million kg CO2e. Scope 3 emissions included around 33.7 million kg CO2e for business travel and approximately 56.8 million kg CO2e for fuel and energy-related activities. Truist's climate commitments include a historical achievement where heritage BB&T, in 2019, met its goal three years ahead of schedule, achieving a 25% reduction in energy use. This resulted in cutting electricity use by about 845,000 kilowatt-hours annually, which is equivalent to a reduction of approximately 1.32 million pounds of carbon dioxide. This reduction 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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Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Truist
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