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 43 is higher than 92% 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 total carbon emissions of approximately 253,887,350 kg CO2e. This figure includes 13,765,000 kg CO2e from Scope 1 emissions, 139,612,000 kg CO2e from Scope 2 emissions (market-based), and 98,641,000 kg CO2e from Scope 3 emissions. Notably, business travel accounted for about 34,824,000 kg CO2e, while fuel and energy-related activities contributed approximately 55,696,000 kg CO2e. Comparatively, in 2022, Truist's total emissions were about 253,000,000 kg CO2e, with Scope 1 emissions at 14,535,000 kg CO2e, Scope 2 emissions (market-based) at 168,687,000 kg CO2e, and Scope 3 emissions at 85,000,000 kg CO2e. This indicates a slight reduction in total emissions year-on-year. Truist has not publicly disclosed specific reduction targets or initiatives as part of their climate commitments. However, they have reported emissions data across all three scopes, demonstrating transparency in their environmental impact. The absence of defined reduction targets suggests a need for further commitment to climate action within the financial services sector.
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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.
