Truist Financial Corporation ESG Profile (TFC): Is It Sustainable?

Our (TFC) ESG Review

$33.05

Symbol	TFC
Price	$33.05
52 Week High 📈	$52.22
52 Week Low 📉	$25.56
Earnings Per Share 💵	4.49
Dividend Yield 🔁	6.427221

Truist Financial Corporation is a bank holding company based in Charlotte, North Carolina. It was formed on December 31, 2019, from the merger of BB&T Corporation and SunTrust Banks, Inc.

As of June 30, 2020, Truist had US$482 billion in assets and US$351 billion in deposits. It is the 6th largest US bank by assets and the 8th largest by deposits. Truist has 2,254 branches across 16 states and Washington, D.C., and a workforce of approximately 60,000 people.

Truist’s Environmental, Social, and Governance (ESG) program seeks to embed sustainable practices across the company and promote positive social and environmental outcomes.

Truist’s sustainability strategy focuses on three areas: climate change, affordable housing, and financial inclusion. The company has set goals to reduce its greenhouse gas emissions by 50% by 2030, increase its lending to low- and moderate-income households by 50% by 2025, and increase its small business lending by 50% by 2025.

What We Like

Truist is one of the nation's leading sustainable banks
The company offers a wide range of products and services that can be used to support sustainable initiatives
The company has a strong commitment to environmental, social, and governance (ESG) principles

What We Don't Like

The company has been fined in the past for unethical practices
Some of the company's products and services have been criticized as being environmentally harmful

TFC ESG Summary

This is a summary of 's ESG scores from Sustainalytics, MSCI, and ESG Enterprise.

ESG Rating Agency	Score or Rating
Sustainalytics	53
MSCI	a
ESG Enterprise	BBB

Sector: Financial Services

Industry: Banks—Regional

Employees: 52,848

Business Description

Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts. The company also provides funding; asset management; automobile lending; bankcard lending; consumer finance; home equity and mortgage lending; insurance, such as property and casualty, life, health, employee benefits, workers compensation and professional liability, surety coverage, title, and other insurance products; investment brokerage; mobile/online banking; and payment, lease financing, small business lending, and wealth management/private banking services. In addition, it offers association, capital market, institutional trust, insurance premium and commercial finance, international banking, leasing, merchant, commercial deposit and treasury, government finance, commercial middle market lending, small business and student lending, floor plan and commercial mortgage lending, mortgage warehouse lending, private equity investment, real estate lending, and supply chain financing services. Further, the company provides corporate and investment banking, retail and wholesale brokerage, securities underwriting, and investment advisory services. As of December 31, 2020, the company operated through 2,781 banking offices. The company was formerly known as BB&T Corporation and changed its name to Truist Financial Corporation in December 2019. Truist Financial Corporation was founded in 1872 and is headquartered in Charlotte, North Carolina.

Company
Exchange	NYQ
Address	214 North Tryon Street

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FAQ

How much is (TFC) stock?

The current stock price of (TFC) is $33.05.

What is (TFC)'s ESG Score?

(TFC) has an ESG score of 53, BBB, and a as rated from Sustainalytics, ESG Enterprise, and MSCI, respectively.