Franklin Templeton launches CSR report
Franklin Templeton has launched its Corporate Social Responsibility (CSR) Report to enhance global citizenship framework and goals on environment, social, governance (ESG) investing, environment, diversity and inclusion (D&I).
The report highlighted the firm’s six dimensions of CSR, which included in addition to ESG investing, the environment and D&I, employee experience, community engagement, and responsible corporate practices.
Additionally, the firm set out its specific goals for fiscal year 2021 focused on three areas: environmental, social and governance investing, the environment and diversity and inclusion which included the following:
- ESG investing: In March 2021, the firm launched its Stewardship and Sustainability Council to guide the continued evolution of ESG infrastructure and best practices. It also published its Stewardship Report, which details its active ownership approach, such as proxy voting and engagement activities.
- D&I: The firm plans to publicly disclose gender and ethnicity representation data as per the U.S. Department of Labor’s Employment Information Report, known as EEO-1. It also plans to invest in female and Black entrepreneurs and expand strategies to increase the attraction, recruitment and development of underrepresented employees, including a focus on further building inclusive leadership capabilities.
- Environment: As it continues to work to reduce its emissions, Franklin Templeton will expand its Scope 3 emissions reporting, set emissions targets and launch an Environmental Committee to advance existing green initiatives.
Kristin Kosmides, head of global citizenship, who led Legg Mason’s CSR function from 2008 until its acquisition by Franklin Templeton in July 2020, said: “We are proud to continue to develop our CSR reporting as we grow in this critical space, expanding and adapting our corporate citizenship platform and initiatives along the way.
“In addition to helping us coalesce around our shared values, the joining of these two companies has allowed us to solidify our approach and work together to build an even stronger corporate citizenship framework.”
Recommended for you
Almost 70 per cent of asset managers are planning to control costs via product rationalisation, according to a global survey by Northern Trust, as they seek to offer clients a best-in-class experience.
Fund managers should work collaboratively with data providers to minimise greenwashing risks in their products as a positive ESG score can be a “gamechanger” for a fund’s demand with advisers.
Asset manager Janus Henderson has made two acquisitions in the ETFs and emerging markets space as it takes strategic steps to meet client needs.
Self-reporting issues to ASIC could lead to a reduced charge for a fund manager but it may not exempt them from enforcement action altogether, according to ASIC chair Joe Longo.
