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.”