This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Truist provides financial services to the fossil fuel industry, including lending and underwriting to companies in the oil, gas, and consumable fuels sector, as well as to equipment and services providers. The bank's own TCFD reports classify these exposures as "carbon-related assets." While Truist has been included in recent fossil fuel finance analyses, specific details on the scale and materiality of its financing to ancillary service companies—such as oilfield equipment manufacturers or drilling contractors—are not publicly detailed in the gathered evidence. The available disclosures confirm the bank's ongoing role in supporting the fossil fuel value chain but lack the transaction-level data needed to quantify its support for the ancillary services segment specifically.
Research Sources
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Related Exclusions
Wondering what we do invest in?
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.