A foundation for the future
At Truist, our purpose is to inspire and build better lives and communities. Truist brings its purpose to life through our Corporate Social Responsibility and Environmental, Social, and Governance efforts. From the start, our corporate social responsibility and environmental, social, and governance programs have been essential to living out this mission and helping our clients.
Living Our Purpose: 5 Areas of Focus
- Community Impact, financial inclusion, and education
- Responsible business and ethical conduct
- Advancing technology for our stakeholders
- Human capital and DEI
- Climate change and environmental sustainabiliy
In our second annual CSR and ESG report, we’ve highlighted the significant and meaningful progress we’ve made in both areas, including:
1) Building better communities
● $178.6 million: In total giving by Truist in 2020
● $1.25 billion: Value in social bond issued to support initiatives in affordable housing, nonprofit services, and more
2) Accelerating financial inclusion
● $79.8 million: Value of 934 grants awarded to promote building career pathways, driving economic mobility, and supporting small businesses, especially for Black, Hispanic, and Latinx communities.
3) Advancing diversity, equity, and inclusion
● $579 million: Purchases from small and diverse businesses, including $134 million from women-owned businesses and $411 million from minority-owned businesses.
Building on our previously announced senior leadership objectives, Truist announced a goal to increase hiring from historically Black colleges and universities from 3% to 5% by 2023. We’ve also committed to increasing spending with diverse suppliers to at least 10% by the end of 2022.
4) Enhancing ESG oversight
- Enhanced board oversight of ESG issues at Truist.
- We’ve created a climate risk management and ESG working group
- Created four new roles to enhance climate oversight and capabilities
- Head, Climate Risk Management
- Senior Director, Environmental Sustainability
- Managing Director, Energy Transition, Truist Securities
- Managing Director, Renewable Energy, Truist Securities
Climate Change and Environmental Sustainability
● $2.4 billion: In clean energy and sustainable-related financing
● 35%: Pledged reduction in carbon emissions by 2030
● $534.4 million: In solar funding, impacting more than 15,000 households
We’re excited about the strong foundation we’ve set in place for our CSR and ESG work, and we’re looking forward to building on these achievements in 2022 and beyond.
Get inspired
For more information on CSR and ESG efforts at Truist, visit: truist.com/purpose/community
