EmilyHolbrook
(Credit: Pixabay)
Franklin Templeton has released its annual Corporate Social Responsibility (CSR) Report, which shows how the company has reduced its energy consumption 57% since 2007.
In addition to announcing that the firm met its 2021 commitments, the 2022 report details Franklin Templeton’s progress on the firm’s six dimensions of CSR – stewardship and sustainable investing; diversity and inclusion (D&I); environment and climate; employee experience; community engagement; and responsible corporate practices – and outlines new priorities for the 2022 fiscal year. The firm also reported sustainability results using two widely used disclosure frameworks, the Sustainable Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI). Franklin Templeton reported using SASB standards previously and has expanded its reporting to include the GRI Index in this latest report.
The company’s energy reduction initiatives and remote work policies led to a reduction in emissions of approximately 57% since 2007, its baseline year, despite significant expansion of business due to organic growth and acquisitions. In 2021, Franklin Templeton also expanded Scope 3 emissions reporting, set an emissions target, and established an enterprise-level Environmental Committee to further advance green initiatives and drive innovation.
How They Did It
- Buildings utilize sensors and/or timers on lights, low voltage and LED lighting, high efficiency bulbs/tubes, and electronic ballasts to limit energy use.
- The company's equipment replacement process includes evaluation of new products and features that improve energy and water efficiency.
- In its two new data centers in California, the company utilized a new more energy-efficient approach to data center design and also invested in building improvements to increase energy efficiency.
- Franklin Templeton obtains electricity from fuel cells installed at its San Mateo headquarters and Poznan, Poland buildings that powers all campus lighting.
- The company's buildings in Rancho Cordova, Stockton & San Mateo (two new buildings) in California, St. Petersburg, Florida, and Poznan, Poland feature cool roof technology to reflect warming sunlight, which reduces the need for energy-intensive cooling.
- Newly constructed buildings in San Mateo, California utilize solar panels.
- Building management systems have off-peak settings that turn off/reduce lighting and HVAC outside of normal business hours.
- Detailed energy usage data allows staff to audit buildings and make continuous improvements to reduce energy use.
- Low flow water fixtures on plumbing systems and landscaping moisture sensors limit water use. New construction in San Mateo, California and Poznan, Poland also includes low flow water heaters and toilets.
- The St. Petersburg, Florida site uses reclaimed water for all landscaping.
- The company's water management system in India utilizes three on-site water wells for landscape irrigation and includes the company's own water reclamation facility to recycle all water used at the site. In addition, water collection systems channel rain and irrigation runoff water back into the ground. New construction in San Mateo, California and Poznan, Poland use sustainable landscape design including extensive drip irrigation for maximum water retention.
Franklin Templeton also established goals and key priorities for fiscal year 2022 within the following environmental focus areas:
- Stewardship & Sustainable Investing: Franklin Templeton will disclose climate-related risks and opportunities in alignment with the Task Force on Climate-related Financial Disclosures, an industry best practice. The firm will also advance initiatives within our commitment to the Net Zero Asset Managers initiative (NZAMI).
- Environment & Climate: The firm will complete third-party verification for scope 1 and 2 greenhouse gas (GHG) inventory, review and update its GHG inventory process and review building management systems globally for efficiency and emissions reduction opportunities.
