Truist Bank Sustainability Profile
Truist Financial Corporation, commonly known as Truist Bank, is a prominent financial institution headquartered in the United States. Established in 2019 through the merger of BB&T and SunTrust Banks, Truist operates primarily in the Southeastern and Mid-Atlantic regions, offering a comprehensive range of banking and financial services. The bank's core offerings include personal and commercial banking, wealth management, and insurance services, distinguished by a commitment to innovation and customer-centric solutions. Truist has quickly positioned itself as a leader in the industry, recognised for its digital banking capabilities and community-focused initiatives. With a strong emphasis on enhancing customer experiences, Truist continues to achieve significant milestones, solidifying its reputation as a trusted partner in financial services.
DitchCarbon Score
How does Truist Bank'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 Bank's score of 43 is higher than 66% 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 Bank, headquartered in the US, currently does not have specific carbon emissions data available for the most recent year. The bank is a current subsidiary of Truist Financial Corporation, which may influence its climate commitments and emissions reporting. As of now, Truist Bank has not publicly outlined any specific reduction targets or initiatives related to carbon emissions. The absence of documented reduction targets suggests that the bank is still in the early stages of formalising its climate strategy. Truist Bank's climate commitments may be informed by broader initiatives from its parent company, Truist Financial Corporation, which is involved in various sustainability efforts. However, specific details regarding these initiatives or any emissions data cascaded from the parent organisation have not been disclosed. In summary, while Truist Bank is part of a larger corporate family that may have climate commitments, there is currently no available emissions data or specific reduction targets to report.
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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 Bank's Industry?
How Carbon Intensive is Truist Bank's Location?
Truist Bank's Scope 3 Categories Breakdown
Truist Bank'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 Bank'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 Bank 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.
