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Truist Financial CorporationUnited States

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This profile is actively maintained
Last update: 2024-11-28 00:00:00
Truist headquarters in Charlotte NC. Photo: City Dweller 2 via Wikimedia Commons (CC BY SA 4.0)

Active

This profile is actively maintained
Last update: 2024-11-28 00:00:00
Bank info
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About
Website https://www.truist.com/
Headquarters
214 N. Tryon St.
GA 30308 Charlotte
United States
CEO/chair Bill Rogers
Chairman & CEO
Supervisor
Federal Reserve
Ownership
listed on NYSE

Truist's shareholder structure can be accessed here.

Truist Financial Corporation (TFC) was established in December 2019 as a merger between SunTrust Bank and BB&T. SunTrust Bank was a US bank, originally established in 1891 in Atlanta when the Georgia General Assembly granted a charter for the Commercial Travelers' Savings Bank. Truist offers deposits, lending, credit cards, and trust and investment services. Through its various subsidiaries, the company provides corporate and investment banking, capital market services and mortgage banking.

Sustainability
Commitments
Policies
Voluntary standards

Truist Financial Corporation does not have a web page for its sustainability commitments, nor does it have publicly available bank policies. Its web page on corporate responsibility only lists its most recent annual csr reports.

Links

Corporate Responsibility and Sustainability

Anti-money Laundering Program

Date listed represents date as accessed on website
Bank policy
2020-07-06 00:00:00 | Truist Financial Corporation

Code of Business Conduct and Ethics

Bank policy
2018-10-12 00:00:00 | SunTrust Bank

Anti-money laundering questionnaire

Bank policy
2018-01-22 00:00:00 | SunTrust Bank

Vendor code of conduct and ethics

Bank policy
2017-03-27 00:00:00 | SunTrust Bank
Truist Financial Corporation has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Global Reporting InitiativeTags: sustainable development | human rights
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
Dodgy Deals

Truist Financial Corporation is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Truist Financial Corporation's link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Energy supply financing ratios: the next milestone in banks’ climate strategy

The energy supply financing ratio is a key indicator that synthesizes two major challenges in limiting global warming to 1.5°C: the phase-out of fossil fuels and the development of sustainable alternatives.
2024-10-07 | Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Gulf Coast residents and major organizations call on financial institutions to phase out financing of LNG projects in the Rio Grande Valley

“We will hold any financial institutions that choose to support these projects accountable for such impacts.”
2024-07-22 | New York City | Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks financed fossil fuels by $6.9 trillion dollars since the Paris Agreement; $705 billion provided in 2023 alone; JPMorgan Chase, Mizuho, and Bank of America are worst 3 funders

Annual Banking on Climate Chaos report with an updated methodology offers comprehensive look at who’s bankrolling the climate crisis
2024-05-13 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

New study: Financing for industrial livestock undermines U.S. banks’ climate commitments

Bank of America, Citigroup, and JPMorgan Chase responsible for more than half of the $134 billion in financing examined in the report
2024-04-10 | Washington D.C. | Friends of the Earth, Profundo
Blog
BankTrack news BankTrack blog Partner news Partner blog

US banks and climate-related policy: How the sector engages on sustainable finance and real economy climate policies

New report from InfluenceMap
2023-06-29 | InfluenceMap
Blog
BankTrack news BankTrack blog Partner news Partner blog

Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

210+ groups support urgent call to action
2021-09-23 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

BB&T, SunTrust finish merger to become Truist in ‘seamless’ change. Here’s what’s next

2019-12-09 | The Charlotte Observer
BankTrack news BankTrack blog Partner news Partner blog

SunTrust, BB&T shareholders approve $66B merger

2019-07-31 | Bizjournals.com
BankTrack news BankTrack blog Partner news Partner blog

SunTrust is the latest bank to stop lending to detention centers

2019-07-08 | CNN Business
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks step away from US private prisons

2019-07-01 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

BB&T, SunTrust Banks To Merge In Biggest Such Deal Since Recession

2019-02-07 | Bisnow.com
BankTrack news BankTrack blog Partner news Partner blog

USA: Govt. contractors accused of profiting from separation & detention of migrant & asylum seeking families

2018-07-25 | Business-humanrights.org
BankTrack news BankTrack blog Partner news Partner blog

U.S. court order stops some work on Mountain Valley natural gas pipeline in West Virginia

2018-06-25 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

28 major banks warned not to finance Trans Mountain pipeline expansion

Over 20 Indigenous and environmental groups deliver urgent letter.
2017-06-09 | BankTrack, Rainforest Action Network, others
Blog
BankTrack news BankTrack blog Partner news Partner blog

Energy Transfer: Which banks continue to support the company behind DAPL?

2017-04-06 | Alison Kirsch - Rainforest Action Network
Resources
Documents

CSR report 2023

Annual report
2024-07-08 00:00:00 | Truist Financial Corporation

Annual report 2023

Annual report
2024-05-14 00:00:00 | Truist Financial Corporation

Banking on climate chaos 2024

Fossil fuel finance report 2024
BankTrack publication
2024-05-13 00:00:00 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance & Sierra Club

CSR report 2022

Annual report
2023-05-23 00:00:00 | Truist Financial Corporation

Annual report 2022

Annual report
2023-05-16 00:00:00 | Truist Financial Corporation

CSR report 2021

Annual report
2022-07-12 00:00:00 | Truist Financial Corporation

Annual report 2021

Annual report
2022-07-12 00:00:00 | Truist Financial Corporation

CSR Report 2020

Annual report
2022-03-01 00:00:00 | Truist Financial Corporation

Truist announces net zero goals by 2050

Other bank document
2022-01-27 00:00:00 | Truist Financial Corporation

Annual report 2020

Annual report
2021-03-16 00:00:00 | Truist Financial Corporation

Annual report 2019

Annual report
2020-07-06 00:00:00 | Truist Bank

Anti-money Laundering Program

Date listed represents date as accessed on website
Bank policy
2020-07-06 00:00:00 | Truist Financial Corporation

Annual Report 2018

Annual report
2019-12-31 00:00:00 | SunTrust Bank

Corporate Responsibility Report 2018

Annual report
2019-06-26 00:00:00 | SunTrust Bank

The Wall Street Banks Still Financing Private Prisons

2019 Data Brief
NGO document
2019-04-30 00:00:00 | ITPI, Public Accountability Initiative, Center for Popular Deocracy

Socially responsible investing

Date listed represents date as accessed on website
Other bank document
2018-11-26 00:00:00 | SunTrust Bank

Code of Business Conduct and Ethics

Bank policy
2018-10-12 00:00:00 | SunTrust Bank

Immigration detention: an American Business

NGO document
2018-07-25 00:00:00 | Urban Justice Center - Corrections Accountability Project

Annual Report 2017

Annual report
2018-02-16 00:00:00 | SunTrust Bank

Anti-money laundering questionnaire

Bank policy
2018-01-22 00:00:00 | SunTrust Bank

Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO

Correspondence
2017-06-06 00:00:00 | Rainforest Action Network et al

Vendor code of conduct and ethics

Bank policy
2017-03-27 00:00:00 | SunTrust Bank

Letter from 500 organisations to SunTrust on financing DAPL

Correspondence
2016-11-30 00:00:00 | 500 organisations
Accountability
Grievances

Truist Financial Corporation does not operate a complaints and grievance channel for individuals or communities that might have been affected by its finance.

This page evaluates Truist Financial Corporation's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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Banks and Climate

Banks and Climate

The 2024 Banking on Climate Chaos report showed that Truist Financial provided US$ 105.352 Billion in financing to the fossil fuel industry between 2016 and 2023. In 2023 only, Truist Financial provided US$ 4.967 Billion for oil, gas and coal companies expanding fossil fuels. Find further details on Truist Financial fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

Banking on Climate Chaos finance data panel

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Truist Financial Corporation’s fossil fuel policy below.

Assessment of Truist Financial Corporation's coal policy in the Coal Policy Tool

Assessment of Truist Financial Group's policies in the Oil & Gas Policy Tracker
Good Moves

Good moves

Year:

2019

Banks step away from US private prisons

As of June 2019, six banks, Fifth Third Bank, BNP Paribas, SunTrust Bank, JPMorgan Chase, Wells Fargo and Bank of America, have announced that they will no longer finance companies that operate private prison and detention centers, including CoreCivic and GEO Group. Two other banks, U.S. Bank and Barclays,…