Every day, Truist works to deliver on its purpose to inspire and build better lives and communities.
We are committed to being a responsible corporate citizen and community partner as we manage our own resources wisely and steward the resources entrusted to us. Truist’s 2022 Corporate Responsibility Report and TCFD Report detail how we care for clients, communities, teammates, and our natural environment. Highlights include:
Caring for clients
Introduced Truist One Banking, which is estimated to save consumers $300 million per year by 2024 by eliminating overdraft fees and creating a negative account balance buffer.
Redesigned the public-facing Truist Privacy page with a new self-service Privacy Center portal that lets clients learn about what information Truist gathers and exercise their rights regarding their data.
Added more professionals with sustainability and ESG advisory experience for clients of the Commercial Community Bank and Corporate & Investment Bank.
Caring for communities
Exceeded our overall Community Benefits Plan commitment to invest or lend $60 billion to low- and moderate-income (LMI) borrowers and in LMI communities over a three-year period that ended in 2022, with more than $73.9 billion invested and lent.1
Donated more than $122 million through Truist Foundation, Truist Charitable Fund, Community Reinvestment Act (CRA) philanthropic grants, and donations made through the Commercial Community Bank.
Committed $120 million to strengthen small businesses, focusing on those owned by Black, Latine, and women entrepreneurs.
Truist teammates dedicated approximately 72,000 hours to volunteering in support of communities and causes.
Caring for teammates
Raised our minimum wage in the U.S. to $22 per hour, which positively affects about 33,000 teammates and represents an estimated $200 million increase in personnel expense.
Continued offering our comprehensive benefits program that includes physical, mental, financial, career, community, and social well-being.
Caring for our environment
Set a goal of net zero greenhouse gas emissions by 2050.
As we build capacity to tackle our longer-term goal, as of 2022, we have reduced our Scope 1 emissions 17% and Scope 2 (location-based) emissions 26% relative to our 2019 baseline. This positions us well to achieve our first generation sustainability goals to reduce Scope 1 and 2 emissions 35% each by 2030.
Invested more than $5 million at more than 150 locations on more efficient LED lighting and energy management systems in 2022. We also spent over $500,000 in HVAC optimization and smart irrigation systems.
Achieved more than 1 million trees planted through a partnership with American Forests and LightStream to celebrate the virtually paperless loan process.
To learn more about our progress on these and other commitments, please visit our Corporate Responsibility site, which includes our Corporate Responsibility Report, ESG Disclosure Summary, and TCFD Report.