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1、Published June 2024FY 2023Corporate Social Responsibility ReportThe value of partnership Our business is based on partnership,and we believe that valuable partnerships require responsible partners.Our corporate social responsibility(CSR)efforts are an expression of that philosophy.In a time of econo

2、mic,geopolitical,social and environmental changes,we believe that partnership among responsible stakeholders can help move our industry,our communities and our world forward.This report details our ongoing CSR efforts over the last yearand into the next.Contents IntroductionStewardship and Sustainab

3、le InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentFranklin Templeton FY 2023 Corporate Social Responsibility Report2ContentsReporting boundaries/dates:Franklin Templetons FY 2023 Corporate Social Responsibili

4、ty Report provides data for fiscal year 2023(October 1,2022September 30,2023)unless otherwise noted.For additional information about this report,please see page 30.“Franklin Templeton”for the purpose of this report covers Franklin Resources,Inc.and its material subsidiaries and specialist investment

5、 managers except for Brandywine Global,Clarion Partners,ClearBridge Investments,Lexington Partners,Martin Currie,Royce Investment Partners and Western Asset unless specifically cited.This report does not include information about Putnam Investments,which Franklin Templeton acquired effective January

6、 1,2024,unless specifically cited.Published June 2024.Edited July 2024.About Franklin Templeton4A message from CEO Jenny Johnson5Our corporate social responsibility reporting6Our six dimensions of corporate social responsibilityStewardship and Sustainable Investing7Environment11Diversity,Equity and

7、Inclusion15Employee Experience19Community Engagement23Responsible Corporate Practices27About this report30GRI and SASB Indexes31 Contents3Franklin Templeton FY 2023 Corporate Social Responsibility Report IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experie

8、nce Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentWe are a global investment management organization.Our mission is to help people all over the world achieve the most important financial milestones of their lives.Our values Put clients first Build relationships Achie

9、ve quality results Work with integrityThrough our specialist investment managers,we bring extensive asset management capabilities in fixed income,equity,multi-asset solutions and alternatives.We offer our services and products under various brand names,including,among others:Franklin Templeton,Benef

10、it Street Partners,Brandywine Global,Clarion Partners,ClearBridge Investments,K2 Advisors,Lexington Partners,Martin Currie,Putnam Investments,Royce Investment Partners and Western Asset.About Franklin Templeton1.As of January 1,2024,with the completion of our acquisition of Putnam Investments.1,500+

11、investment professionals160+countries where clients are served10,000+employees in over 30 countries76years of investment experience$1.6tnin assets under managementBy the numbers1 Introduction4Franklin Templeton FY 2023 Corporate Social Responsibility Report ContentsStewardship and Sustainable Invest

12、ingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentIn my annual letter to Franklin Resources shareholders,I highlighted the power of partnerships.We see this in our firms approach to corporate social responsibility(CSR

13、),which is successful through partnerships with our many stakeholders including our clients,shareholders,employees and others.These partners help inform and evolve the building blocks or“dimensions”of CSR at Franklin Templeton.This past year,Franklin Templeton once again conducted a materiality asse

14、ssment to learn what matters most to our partners.Through this engagement,we reaffirmed our approach to CSR based on six dimensions:Stewardship and Sustainable Investing;Environment;Diversity,Equity and Inclusion;Employee Experience;Community Engagement;and Responsible Corporate Practices.We have ac

15、hieved many accomplishments working together throughout our CSR journey.Over the past year,Franklin Templeton was ranked#50up from#73 in Barrons“Top 100 US Sustainable Companies in 2024”list,which evaluates the 1,000 largest US companies by market capitalization.2 And we were recognized in Pensions&

16、Investments“2023 Best Places to Work in Money Management,”along with our specialist investment managers Clarion Partners and ClearBridge Investments.3In January,we were delighted to welcome employees from Putnam Investments with its long tradition of investment excellence.As Boston is an important l

17、ocation for us,we look forward to continuing their long-standing civic and philanthropic commitment in the region.Looking aheadThroughout our 76-year history,Franklin Templeton has been guided by Benjamin Franklins principle of“doing well by doing good.”This principle,alongside collaboration and con

18、tinuous improvement,will be paramount in our CSR journey ahead.Amid the backdrop of the geopolitical landscape and market volatility,we continue to navigate the ever-evolving industry and regulatory environment.As we publish this report,Franklin Templeton is celebrating June Impact Days,our global m

19、onth of service,with a theme focused on“I ACT”in IMPACT.This call to action builds on an 18-year tradition of harnessing the time,talent and compassion of our employees to partner with our local communities and many charitable organizations around the world.Our CSR principles and work are more reaso

20、n Franklin Templeton is a powerful partner for today and tomorrow.I invite you to read our FY 2023 CSR Report,which includes detailed disclosure indexes,and I welcome your feedback via CSR.Sincerely,Jenny Johnson President Chief Executive Officer A message from CEO Jenny Johnson2.Barrons recognized

21、Franklin Templeton in February 2024;more details here.Ranking is based on the period of January to December 2023.Franklin Templeton did not provide compensation for the ranking.3.Pensions&Investments recognized Franklin Templeton in December 2023;more details here.Submitted in June 2023,ranking is b

22、ased on the FY 2022 data period.Franklin Templeton did not provide compensation for the ranking.Introduction5Franklin Templeton FY 2023 Corporate Social Responsibility Report ContentsStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsib

23、le Corporate PracticesGRI/SASB Indexes EnvironmentOur corporate social responsibility reporting Stakeholder engagement and materialityAs a global investment management organization,we manage and address a broad range of environmental,social and governance issues.To inform this report,Franklin Temple

24、ton recently conducted a materiality assessment to refresh the process completed in 2019 and to identify and prepare for future opportunities and risks.In early 2024,we engaged internal and external stakeholders in a process to evaluate corporate social responsibility(CSR)materiality from both the i

25、mpact and financial perspective.Through extensive surveys and interviews,industry benchmarking and a review of primary international reporting frameworks,we reaffirmed our six dimensions of CSR shown here.Our six dimensions of CSRStewardshipand SustainableInvestingEnvironmentEmployeeExperienceRespon

26、sibleCorporatePracticesDiversity,Equityand InclusionCommunityEngagementCorporate social responsibility is a key component of our strategy to deliver better outcomes.CSR is grounded in our corporate values of putting clients first,building relationships,achieving quality results and working with inte

27、grity.Our six CSR dimensions are interconnected and mutually supportive.Introduction6Franklin Templeton FY 2023 Corporate Social Responsibility Report ContentsStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGR

28、I/SASB Indexes EnvironmentStewardshipand SustainableInvestingAt Franklin Templeton,we believethat stewardship is an essentialelement of active management,serving as a key driver of long-termperformance and providing importantinsights into how the companiesin which we invest our clients capitalcan ef

29、fectively produce sustainablelong-term results.Franklin Templeton FY 2023 Corporate Social Responsibility Report7Stewardship and Sustainable Investing Contents IntroductionDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes Environme

30、ntOur approach to Stewardship and Sustainable InvestingWe recognize sustainability as one of the deep waves transforming global capital markets.As such,we developed a firm-wide Sustainable Investment Strategy to ensure that we are effective leaders in good stewardship and that we exercise our fiduci

31、ary duty to act with prudence,loyalty and care when investing our clients assets,providing vehicles of choice.We grounded this strategy on an economic model based on the effective consideration of the material impacts on financial,human and natural capital and their implications for performance.Clie

32、nts entrust us with their capital and rely upon repeatable risk-adjusted returns for a wide range of vitally important goalsfrom retirement security to education,health,housing and savings.We believe that stewardship is an essential element of active management,that may serve as a key driver of long

33、-term performance and providing important insights into how the companies in which we invest our clients capital can effectively produce sustainable long-term results.As one of the worlds largest asset managers,we understand the power of stewardship.We use our substantial market presence to foster p

34、roductive dialogue with the companies we invest in,which allows us to advance their progress and ultimately contribute to the functioning of global financial systems.Through these long-standing and deep connections across the financial system and capital markets,we can gain better insights when buil

35、ding portfolios for our clients and encourage change across capital markets to maximize the productivity of financial,human and natural capital.Governance of sustainable investment Our overall structure is designed to encourage investment autonomy for our specialist investment managers(SIMs)while en

36、abling collaboration and the sharing of best practices across the enterprise.Fiduciary duty and fulfilling our clients mandates are the objectives of the governance structures we have put in place,which serve to ensure each component of the firm has all the tools available to deliver the best outcom

37、e for each clients objective.At Franklin Templeton,overall responsibility for sustainability rests with the firms Board of Directors,where the Corporate Governance Committee has formal oversight for the program,as stated in the committee charter.In addition,we have established three governance bodie

38、s over stewardship and sustainable investing activities:the Sustainable Investment Governance Committee,the Stewardship and Sustainability Council and the Global Public Policy Council.These bodies are composed of leaders and senior stakeholders from across the firm,representing all aspects of Frankl

39、in Templetons business.Sustainable Investment Governance Committee(SIGC)To implement our firm-wide approach,the SIGCwhich reports to the Executive Committee and is chaired by the Global Head of Sustainabilityis a senior-level decision-making body charged with the oversight of progress on the firms S

40、ustainable Investment Strategy,sustainability-related resource allocation and final determination on sustainability issues when opinions and approaches differ.It also provides a forum for consideration of initiatives,thought leadership and partnerships.The committee comprises senior representatives

41、from across all aspects of the business,including investments,distribution,legal,enterprise risk,the Executive Committee,communications and sustainability.The committee ensures integration,clarity and coordination among the teams responsible for integrating sustainability considerations within their

42、 respective processes.Stewardship and Sustainable Investing8Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentStewardship and Sustain

43、ability CouncilTo make the most of the wealth of expertise across our specialist investment teams,we established our firm-wide Stewardship and Sustainability Council(SSC)in 2021 to bring those teams together for dialogue and the sharing of best practices related to sustainable investing.The SSC incl

44、udes investment professionals from across Franklin Templeton,representing both public and private markets.Global Public Policy CouncilTo ensure we are engaging with legislators and regulators across the markets,where we invest client assets,we established our Global Public Policy Council to focus on

45、 legislative and regulatory issues driving investment,with sustainability as a core theme.Including our CEO and CFO and chaired by our Deputy General Counsel/Global Head of Public Policy,the council closely monitors the global regulatory environment,sets the firms top policy priorities and articulat

46、es key messaging to the public and regulators.They are informed by our internal Global Public Policy Forum of business groups and investment teams who regularly review global public policy,legislation and tax concerns.Independent investment decision-making processes Our individual SIMs each employ a

47、n independent investment process that empowers them to evaluate sustainability factors from multiple perspectives,varying by asset class,regional focus and individual mandates.With over 20 different investment teams,relevant sustainability factors can vary greatlywhether by geography,asset class or

48、specialization.This enables us to meet the needs of a wide range of clients.Our SIMs benefit from centralized support,with the data,analytical tools,opportunities for collaboration and resources to meet clients needs.We have built out our team of in-house staff to enhance the sustainability data sou

49、rces available to our investment teams,which we consider essential tools to guide our stewardship efforts and fulfill our reporting obligations.We continue to develop and refine our use of risk and impact datasets to support our commitments toward the Net Zero Asset Managers initiative and the Task

50、Force on Climate-Related Financial Disclosures(TCFD).Stewardship and engagement Asset stewardship is an essential part of our role in protecting and advancing our clients financial interests.Effective stewardship is long-term,collaborative and integrated,and it includes engagement with the companies

51、 and other issuers of the securities we invest in,as well as the exercise of voting rights.That is why we engage directly with approximately 500 securities issuers annually,and in 2023 we voted on over 97,000 ballots.4 Stewardship activities also include dialogue with regulators,policymakers and sta

52、ndard setters,where we use our insights as investors to advocate for more efficient and well-regulated markets.Voting and engagement are directly integrated into each investment teams responsibilities,forming part of their investment thesis.Franklin Templetons Stewardship Team supports our investmen

53、t teams with in-depth research,engagement and recommendations.Operationally,the Stewardship Team is responsible for the administration of our proxy voting process and works with each investment team to implement their voting policies.4.Engagement and voting statistics apply to Franklin Templetons in

54、vestment teams covered by the central Franklin Templeton policy framework on stewardship,representing 45%of Franklin Templetons total assets under management.Investment teams out of scope of this policy framework include Brandywine Global;Clarion Partners;ClearBridge Investments;Lexington Partners;M

55、artin Currie;Royce Investment Partners and Western Asset.Several of these investment teams independently report comparable statistics as part of their respective reports,which can found here.Stewardship and Sustainable Investing9Franklin Templeton FY 2023 Corporate Social Responsibility Report Conte

56、nts IntroductionDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentClimate disclosure We are a Capital Market signatory to CDP(formerly known as“Carbon Disclosure Project”),and we have disclosed our environmental impact t

57、hrough CDP since 2008.Our latest climate questionnaire response can be found here.Additionally,we have publicly supported the TCFD since 2021,believing that the economic consequences of climate change are best understood with a robust reporting framework that promotes comparable disclosure of materi

58、al risks for the ultimate benefit of investors.Review our corporate TCFD report here.NZAM and goal progress Franklin Templeton and three of its managers5 became signatories to the Net Zero Asset Managers initiative(NZAM)in July 2021,which marks our commitment to enabling clients who seek such strate

59、gies to implement their goals.It also reflects our readiness to prepare our own business for the net zero transition.Our initial targets for 2030 are publicly available on the Net Zero Asset Managers website.As an NZAM signatory,we have committed to reporting the scale of assets under management in

60、client strategies that consider alignment with net zero transition,the methodology by which we analyze that alignment and the targets by which we measure progress.Read here for further details on how we implement our commitment.In line with our commitment to NZAM,we have established several net zero

61、 working groups and educational sessions,facilitated by our Global Sustainable Strategy Team,that promote the sharing of best practices and thought leadership among our investment teams in analyzing the risks and opportunities presented by net zero for our clients portfolio investments.As of Novembe

62、r 2022,5%of firm assets are categorized as being managed in line with net zero,principally those with an existing sustainability focus(e.g.,funds categorized under Article 8/9 of the European Unions SFDR).Importantly,we are guided by the most fundamental of our legal duties to our clients,which is o

63、ur fiduciary obligation.We do not intentionally invest or conduct stewardship activities on climate-related topics in a way that undermines our fiduciary obligations or our ability to deliver long-term returns.Investment industry partnerships To lead by example,we work with a wide range of organizat

64、ions that promote best practices for sustainable investing and analyzing sustainability-related risks.We are signatories to,or members of,many such organizations,including:UN Principles for Responsible Investment ASCOR Initiative Representatives Ceres Investor Network on Climate Risk and Sustainabil

65、ity IFRS:Investor Advisory Group of the International Sustainability Standards Board(ISSB)Net Zero Asset Managers initiative(NZAM)Climate Action 100+International Corporate Governance Network(ICGN)Council of Institutional Investors(CII)Official Monetary and Financial Institutions Forum(OMFIF)Human C

66、apital Management Coalition(HCMC)Rankings and ratingsWe are proud of the results of our efforts as recognized by a range of organizations,including:Ranked#50 among Barrons 100 Most Sustainable US Companies 2024 MSCI ESG Rating of A6Thought leadership Visit our Insights page for a curated selection o

67、f topic papers on issues such as stewardship,water scarcity,food innovation,proxy voting with purpose,biodiversity and more.Additional resourcesWe invite you to review the Franklin Templeton Stewardship Report and other sustainability reports from our SIMs and investment groups posted here.5.Brandyw

68、ine Global,ClearBridge and Martin Currie each became signatories in their own right.6.MSCI ESG ratings aim to measure a companys management of financially relevant ESG risks and opportunities.Rating of A is based on a scale of AAA-CCC.For more information,visit MSCIs website under Sustainable Invest

69、ing,ESG Ratings.Stewardship and Sustainable Investing10Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentEnvironmentThe health of our

70、 planet and the well-being of futuregenerations depend on humanitys ability to preserveour environment and its natural resources today.At Franklin Templeton,we are doing our part to addresssystemic threats to the environment by disclosing and reducing our footprint and encouraging environmentally re

71、sponsible behavior throughout our operations.Franklin Templeton FY 2023 Corporate Social Responsibility Report11 Environment Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexe

72、sOur Environmental Policy Statement outlines our core goal of continually improving our environmental impact.Increased reporting on carbon and climateAs we have since 2008,we once again completed environmental disclosure through CDP(formerly known as“Carbon Disclosure Project”)and maintained a score

73、 of B in 2023above average for firms reporting in North America and globally.Additionally,we secured third-party verification of our greenhouse gas inventory for scope 1,scope 2 and select categories of scope 3.We have also publicly supported the Task Force on Climate-Related Financial Disclosures(T

74、CFD)since 2021.We believe that the economic consequences of climate change are best understood with a robust reporting framework that promotes standardized disclosure of material risks for the ultimate benefit of investors.The latest corporate TCFD report is available here.7.Our emissions inventory

75、and reporting to CDP in 2023 is based on fiscal year 2022 emissions.Scope 1,scope 2 and partial scope 3(purchased goods and services,capital goods and business travel)emissions were verified by an external third party.8.The 2019 baseline year reflects our business and organizational boundaries at th

76、at time;we continually evaluate to consider adjustments to the baseline year in the future.Leadership in Energy and Environmental Design(LEED)Building Research Establishment Environmental Assessment Methodology(BREEAM)German Sustainable Building Council(DGNB)PlatinumWarsaw and Poznan,PolandGoldDubli

77、n,Ireland London and Leeds,United Kingdom Luxembourg Warsaw,PolandPlatinumFrankfurt,Germany GoldBucharest,Romania Progress against target Franklin Templeton is committed to reducing scope 1 and 2 emissions by 50%by 2030 from a 2019 baseline.8 While we continued in 2023 to grow as a business,we also

78、succeeded in reducing these emissions by 16%compared with a 2019 base yearthrough office consolidations and energy-reduction initiatives at firm-owned and leased facilities.Green certificationsWe are proud to have various green certifications for our owned and leased offices around the globe(see tab

79、le below).Other major projects are underway to further reduce our real estate emissions.In New York City,we will be consolidating nine offices into a single location with less overall square footage,and in Stamford,Connecticut,we are consolidating three offices into one.In Baltimore,we recently move

80、d to a new office location with a reduced footprint.All these locations will be LEED Silver certified or above.In our most recent emissions inventory,7 scope 1 and scope 2 market-based emissions totaled 11,655 and 22,096 tCO2e(metric tons of carbon dioxide equivalent),respectively,representing a 16%

81、reduction from a 2019 baseline.Efficiency activitiesAll our real estate development and renovation projects include a goal of sustainability.We follow environmentally conscious business practices and maintain environmentally friendly building features across our global corporate footprint,aiming to

82、minimize the impact of our business functions and to reduce the environmental footprint of our facilities.Emissions reduction efforts include higher-efficiency upgrades to infrastructure and lighting,office consolidations,operational reductions and renewable energy initiatives.Environment12Franklin

83、Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB IndexesAt our headquarters in San Mateo,California,we have upgraded our ge

84、nerators and building management system controls and further enhanced our water-efficient landscaping practices.This campus operates Bloom Energy fuel cells that represent an annual savings of 3.9 million kilowatt-hours.At our data center in California,we employed a more energy-efficient approach to

85、 design and invested in energy-efficient building improvements and hot and cold air management,reducing the need for energy-intensive cooling.Several of our buildings(Rancho Cordova and Stockton,California;St.Petersburg,Florida;and Poznan,Poland)include cool roof technology to reflect warming sunlig

86、ht.Our building in Poznan was designed to LEED standards and certified as LEED Platinum,the highest rating available.We achieved significant optimization by modifying the HVAC system in this office.Our overall effort to efficiently manage the building led to a 40%year-over-year reduction in building

87、 electricity usage from 2022 to 2023.Overall,we monitor air quality and energy usage in our offices,use environmental management systems where feasible and monitor environmental regulations to ensure we meet or exceed all requirements.The real estate department has established a plastic elimination

88、policy,green purchasing guidelines and a green leasing sustainability checklist for selecting office spaces.We strive to use sustainable materials and supplies,maximize recycling programs in our facilities and look for new ways to reduce water use in our daily operations.Furniture finds second lifeF

89、ollowing upgrades in three US offices,100%of the firms no-longer-needed furniture was diverted from the landfill through a partnership with an organization that resells,donates and recycles decommissioned office furniture and equipment.We focused on repurposing as much unused furniture as possible,d

90、onating to organizations that would benefit.This effort is expected to continue in future projects around the globe.Clarion PartnersOur real estate specialist investment manager Clarion Partners,one of the largest owners and developers of warehouse logistics properties in the US,achieved LEED certif

91、ication for 39 industrial warehouse development projects under the US Green Building Councils(USGBC)LEED v4 for Warehouse and Distribution Volume program.9 In addition to these certifications,Clarion Partners has more than 21 million square feet of further industrial development under review by USGB

92、C that is expected to achieve LEED certification.9.As of April 30,2024.Certain rating programs and industry awards require payment of submission,review or rating fees.LEED Building Design+Construction Certifications are issued at the time of building development or major renovation and last in perpe

93、tuity.Properties must pay registration and review fees to pursue LEED certifications.We also completed energy-efficient LED lighting upgrades at many of our facilities including in the US(Rancho Cordova and San Mateo,California,and Fort Lauderdale and St.Petersburg,Florida);in the Europe,Middle East

94、 and Africa region(Edinburgh,London and Leeds in the UK,along with Bucharest and Cape Town);and in the Asia-Pacific region(Chennai,Delhi,Hyderabad and Mumbai,India,along with Hong Kong,Seoul,Singapore,Tokyo and Melbourne).In our Edinburgh office,an HVAC upgrade converted our buildings main heating s

95、ource from gas boilers to air source heat pumps and new,energy-efficient air handling units and chillers.We also adjusted the time of system operation and installed occupancy sensors.In Hyderabad,India,we use solar water heaters.Environment13Franklin Templeton FY 2023 Corporate Social Responsibility

96、 Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB IndexesEarth Hour,Day and Month 2023In 2023,we ramped up for Earth Day by participating in Earth Hour on March 25,turning o

97、ff lights and signs at all locations from 8:30 p.m.to 9:30 p.m.local time.Then,in April,we marked the 53rd anniversary of Earth Day with the theme“Invest in Our Planet.”We sponsored tree planting through a donation to WeForest,a nonprofit dedicated to locally led reforestation and conservation,and f

98、eatured the organization in an employee matching gifts campaign for the month.From April 17 to April 23,many employees avoided using disposable items for the whole week.We also sponsored a“How to Go Green”wellness webinar where employees learned how to preserve the environment and promote good healt

99、h.Additional employee engagementThroughout the year,we invited initiatives from employees who are passionate about environmental responsibility.Our Global Green Team encourages all employees to conserve resources to further awareness and progress.Our employees green initiatives are wide-ranging and

100、include:Our long-running oyster gardening program,which helps to filter the Chesapeake Bay in Baltimore,Maryland.Tree planting by employees in partnership with a national nonprofit organization dedicated to planting and nurturing trees across Canada.Litter cleanup in Tokyos Marunochi district and Fo

101、rt Lauderdale Beach in Florida.The race against plasticIn Stockholm,Sweden,Franklin Templeton employees joined another firm and over 30 clients for annual fundraising sporting events.Combined with a contribution from Franklin Templeton,the team raised over$6,000 for a nonprofit dedicated to protecti

102、ng our oceans.Environment14Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB IndexesFranklin Templeton FY 2023 Corp

103、orate Social Responsibility Report15DE&I is part of our growth storythinking moreholistically and with diverse perspectives isa driver of business success.Evolving all aspectsof diversity makes our firm a better place towork and a more resilient business.Integralto strong firm performance,we continu

104、e toembed and expand DE&I policies and actionsin all our practices.Diversity,Equityand InclusionDiversity,Equity and Inclusion Contents IntroductionStewardship and Sustainable Investing Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentInaugural DE&I

105、Report At Franklin Templeton,our approach to DE&I is that it is more than just the right thing to do.DE&I is an opportunity rather than a problem to be solved.An inclusive culture enables us to better reach and meet our clients goals.We published our first DE&I Report,“Unlocking Our Growth Strategy.

106、”An important milestone in our journey,the report signals our commitment to diversity,equity and inclusion.We invite you to read the report here to learn about our progress as an organization and our strategy for building on that progress as we move forward.Making progressWe are building a future wh

107、ere diversity,equity and inclusion are integral to our business strategy.We are committed to driving sustainable change that aligns with our core values and business objectives.Our Executive Committee and Chief Diversity Officer,who leads the Office of DE&I,along with three Regional DE&I Executive C

108、ouncils,provide senior leadership accountability,cultural perspectives and alignment with our global strategies.The three regional councils Americas;Europe,Middle East and Africa(EMEA);and Asia Pacific(APAC)address specific diversity needs within each region and ensure that our focus and initiatives

109、 are culturally relevant and responsive to their local markets.Franklin Templeton DE&I philosophy and enterprise goalsDiversity,Equity and InclusionBuild an inclusive culture to innovate and drive firm growth for investorsand clients.Business partner of choiceEstablish asset management as the indust

110、ry of choice for diverse talent and external stakeholders through strategic partnerships and equity initiatives.Industryof choiceEstablish Franklin Templeton as an employer of choice for top talent by increasing diversity at all levels of the firm.Employer of choiceDiversity,Equity and Inclusion16Fr

111、anklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable Investing Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentAccountability mattersDiversity,equity and inclusion are not the responsibilit

112、y of any one person or departmenttheyre an integrated enterprise-wide initiative and a formal part of how we organize ourselves.To ensure accountability at every level and to increase inclusive leadership skills,each of our employees is expected to set and pursue a DE&I goal as part of their annual

113、performance measures.These goals,which are selected based on the DE&I competencies weve established,serve as a tangible demonstration of our commitment to fostering an inclusive culture.Working for a more inclusive industryThe Franklin Templeton Institute,a center for thought leadership and a forum

114、to influence our industry,includes DE&I as a core area of study and exploration.The institutes Global DE&I web page hosts topic papers;webinars;and a byline from our Chief Diversity Officer,titled“Dimensions&Insights.”In 2023,we explored business growth resulting from DE&I practices centered on dive

115、rse workforces,consumers and communities,plus inclusive innovations in blockchain and digital assets.Franklin Templetons DE&I approach also extends to our specialist investment managers(SIMs).Among many internally facing programs,some in collaboration with Franklin Templeton,SIMs such as ClearBridge

116、,Western Asset and Martin Currie collaborate with talent pipeline diversity programs including Toigo Foundation,Big Brothers Big Sisters,Cornell Women in Investing and others.ClearBridge has recently hired candidates introduced through these partnerships.PartnershipsIn addition to building our own D

117、E&I infrastructure,we have forged strategic partnerships to influence macro change across the industry,such as with Nex Cubed to co-found the HBCU Founders Initiative,which supports entrepreneurs at historically Black colleges and universities.Other partnerships include Catalyst,a global organizatio

118、n that helps build inclusive and equitable workplaces for women,and Diversity Project UK,which aims to increase inclusion in the investment industry there.We are proud members of the Financial Alliance for Racial Equity(FARE),a partnership among leading financial service organizations,associations a

119、nd HBCUs.Franklin Templeton is one of 27 member organizations in a diversity-driven collaboration called the Equity Collective,which is an industry-leading group Our eight employee-led business resource groups(BRGs)continue to help foster a culture of inclusion by providing employees with a greater

120、sense of shared experiences and opportunities to impact business results.Our BRGs work to enhance the understanding of diversity in the workplace and in our broader communities and to enrich Franklin Templetons culture of mutual respect.Goals and strategic imperativesFranklin Templeton has establish

121、ed three strategic imperatives to organize and prioritize our DE&I efforts:People,Practices and Public Commitment.Under the heading of people,we work to empower diverse perspectives at every level and increase the diversity of our workforce.This means not only attracting,developing and retaining und

122、errepresented talent,but also creating and maintaining a diverse leadership pipeline.Our second imperative focuses on practices that foster an inclusive culture through workplace behaviors and processes.We integrate equitable practices at all levels of our firm because we believe an inclusive cultur

123、e fosters innovation and drives our growth.Publicly,we use our platform as one of the worlds largest asset managers to positively impact the diversity,equity and inclusiveness of our industry.We do this through strategic partnerships to influence change;implementing practices to reach the evolving i

124、dentities of our clients;and launching initiatives to provide opportunities to underserved entrepreneurs,businesses and suppliers.Diversity,Equity and Inclusion17Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable Investing Employee Expe

125、rience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes Environmentof wealth management and asset management businesses that have come together to educate,empower and develop the next generation of diverse leaders in the finance industry.We sponsor the Envestnet Institute on Campu

126、s(EIOC)program,which provides the asset management industry with a diverse pool of workforce-ready interns and entry-level employees.We also have partnerships with Rock the Street,Wall Street,a program to bring gender and racial equity to the capital markets and spark the interest of high school gir

127、ls in careers in finance,and the Toigo Foundation,whose impact starts on the education front with students earning their MBAs as Toigo Fellows and continues reaching a broad base of minority and women finance professionals.Key achievements Established global DE&I governance and transitioned to a reg

128、ional approach with three Regional DE&I Executive Councils(Americas,APAC and EMEA).Set firm-wide goals,measures and key performance indicators across the strategic pillars of People,Practices and Public Commitment.Launched DE&I action planning in priority business lines.Began building out our approa

129、ch to inclusive leadership development.Engaged a cross-functional team in the development of a global approach to voluntary employee self-identification.Published the inaugural Franklin Templeton DE&I Report.Became signatories of the CFA DE&I Code and the Diversity Project Europe.Top Score in 2023 D

130、isability Equality Index(DEI)American Association of People with Disabilities(AAPD)and Disability:INStonewallAPAC 100 Women in Finance(100WF)Status:Highly CommendedAPAC 100 Women in FinanceAwards and recognitionCitywireGender Diversity Award Recognition for leading LGBTQ+inclusive employers Diversit

131、y,Equity and Inclusion18Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable Investing Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentEmployeeExperience To remain an industry leader,our

132、goal is to hire and develop the very best talent.To retain that talent,we continuously strive to engage employees through an open,supportive and inclusive workplace so that employees at all levels feel that their careers at Franklin Templeton are more than just a job.Franklin Templeton FY 2023 Corpo

133、rate Social Responsibility Report19 Employee Experience Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Community EngagementResponsible Corporate PracticesGRI/SASB Indexes EnvironmentFrom our welcoming,inclusive and flexible culture to our global and diverse

134、business,Franklin Templeton offers a wide range of opportunities for individuals to reach their potential while contributing to the success of our organization.Not only is employee retention key to our continued success,but we also care deeply about all our colleagues.We continuously develop and evo

135、lve strategies and initiatives with this in mind.Employee engagement and feedbackWe regularly gauge employee sentiment to make sure that we live our corporate values and cultivate our inclusive culture.Through the employee lifecycle,from the onboarding process through a departing employees exit surv

136、ey,we seek to learn from our colleagues and understand their experiences.Open lines of communication occur through one-on-one discussions,team meetings,town halls,internal social media communities and sentiment check-ins,including an annual employee sentiment survey.The annual sentiment survey and r

137、egular“take the pulse”checks of our workforce give us real-time insight into firm-wide trends and a better understanding of our employees perspectives.We also encourage employee input through dialogue between employees and their leaders through town halls,live forums and ongoing discussion about goa

138、ls and objectives.Leaders and employees also engage directly on a variety of topics in our Courageous Conversation events.Experience,exposure and education Continuous learning is key to long-term success,so our approach to professional development focuses on three pillars:experience,exposure and edu

139、cation.Our employees gain valuable professional experience learning through on-the-job activities.Through wider exposure to the organization,employees can benefit from opportunities to network,develop mentoring relationships and obtain feedback.We work to give all new employees a strong start.Throug

140、h our New Employee Learning Series,new hires can access a wide range of resources about our firm and industry,including our culture and values.Structured educational opportunities are available to all employees and leaders for core and specific competency development.We help leaders build the necess

141、ary skills to be successful through a variety of leadership training opportunities.Our Strategic Leader Program equips leaders with the mindset,knowledge and skills needed to lead strategy,culture and people in a dynamic,evolving,global organization that is rooted in our values.We will soon introduc

142、e the Inclusive Leadership Learning Path,which is intended to help leaders build new capabilities to foster a more inclusive environment.We are evolving our global education assistance program to encourage employees to use external learning resources to take advantage of todays new ways of learning

143、and further invest in our workforce.Mentoring is key to a positive employee experience,so in addition to informal mentoring opportunities,we also offer a range of formal mentoring channels.We support professional and personal development through functional teams,business resource groups,online socia

144、l communities,internships,sponsorships and volunteer projects.We recently celebrated the 40th anniversary of our Futures Program.Established in 1983,this two-year rotation program gives recent college graduates exposure to multiple areas of the firm.Each participant,or Futures Associate,is assigned

145、a management mentor.Many of our past Futures Associates are now long-term employees,including leaders in the firm.Our focus on employee experience helped Franklin Templeton and two of our specialist investment managersClarion Partners and ClearBridge Investmentsrank among the Best Places to Work in

146、Money Management announced by Pensions&Investments.Employee Experience20Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Community EngagementResponsible Corporate PracticesGRI/SASB Indexes Envir

147、onmentAt the intersection of our DE&I and mentoring efforts,we participate in the McKinsey Connected Leaders Academy,which advances racial equity by investing in future leaders.This program has development tracks for Asian,Black/African American,Hispanic and Latino leaders.We also recently launched

148、a DE&I mentorship pilot that matches a cross section of high-potential talent with executive-level leaders across the global organization.Sales-focused employees and external business partners around the world benefit from award-winning,tailored learning provided by the Franklin Templeton Academy.Th

149、e curriculum focuses on investment concepts and business-building practices.In the last five years through 2023,our Academy has trained more than 215,000 industry professionals in 30 countries and 16 languages.Recognizing our achievements Recognizing and celebrating individual successes and team ach

150、ievements helps to reinforce our employees positive impacts on firm initiatives,their teams and colleaguesand in their communities.Throughout the year,we highlight the personal and professional achievements of teams and colleagues and promote peer recognition in various communications.The We Are Fra

151、nklin Templeton program empowers all our employees to formally recognize each other for contributions to the firms success and demonstration of our core values.Our BENiversary program recognizes and celebrates our employees years of service at every five-year milestone,with a special award and recog

152、nition ceremony for 20 years of service.We also celebrate exceptional employee contributions through two annual awards that are showcased during our year-end All Employee Meeting.The Charles B.Johnson Award spotlights employees who live the firms core values and provide exceptional client service,an

153、d the Harmon E.Burns Award recognizes employees for extraordinary community service.Total rewards Our support for the whole person is reflected in our competitive mix of financial and nonmonetary rewards designed to recognize contributions and commitment,including:Fair,equitable and competitive comp

154、ensa-tion that rewards employees at all levels of the organization for performance and contributions to the firms success.Business resource groups that promote inclusion,foster networking,collaboration and support new employees.Comprehensive health and wellness benefits to support and care for emplo

155、yees and their familiesRetirement savings,stock purchase and other incentive programs to help employees plan for the future.Ways to get involved and give back to our communities through the Involved global volunteer program,matching gifts and the volunteer paid time off benefit.Flexible work environ

156、ment and inclusive culture.Support for pursuing certifications,continu-ous learning focus and an education assistance program available to full-time and part-time employees.Holiday and time off family-friendly benefits,employee programs that support work-life integration,global paid caregiver leave

157、and a minimum of 12 paid weeks of family parental leave(birth/adoption/surrogacy).Employee Experience21Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Community EngagementResponsible Corporate

158、PracticesGRI/SASB Indexes EnvironmentNew ways of working Helping our employees be their best means ensuring a work and life balance.We have incorporated this belief into our culture and the way we work.And we work to build on our belief in balance with new ways of working.We continue to introduce di

159、gital tools to support productive ways of working,provide easier access to skill development and help employees avoid burnout.Scheduling tools encourage setting aside focused time to get work done with reminders to take breaks during the workday.The effort is supported with action by our leaders,inc

160、luding our CEOs annual“no meetings”week,leaders and colleagues sharing stories of their hobbies and adventures,activity challenges and our month-long community involvement Impact Days.We continue to embrace flexibility,which supports our employees pursuit to be their best by ensuring a work and life

161、 balance.We reinforce our robust wellness programming with messaging from our leadership emphasizing the importance of self-care during the workday and after hours.Looking ahead This year,through external research and internal employee focus groups,we developed our employee value proposition(EVP):Sa

162、y hello to progress.Yours and ours.The three messaging pillars of our EVP are:As we build our strategic plans for 2024,we look forward to seeing our EVP in action.We are committed to listening to feedback and to enhancing the employee experience.Franklin Templeton Recognized in Pensions&Investments

163、Best Places to Work in Money Management AwardsWellness We take a holistic approach to well-being support,which is offered to employees at all levels.The concept of well-being goes beyond physical health to include five interrelated and interdependent aspects,or pillars,of wellness:emotional,physical

164、,financial,social and purpose.An enterprise-wide wellness program provides daily tips for healthy habit building,live and virtual coaching,wellness workshops,financial education,smoking cessation and guidance for embracing diversity,reducing stress,caregiving,finding emotional balance and more.Emplo

165、yees can take part in enterprise challenges with peer participation to be more active and focus on their well-being.Our program includes fun healthy habit challenges and provides tools and resources to support mindfulness and meditation,as well as emotional intelligence and resilience.Additionally,i

166、n 2023,we added a new fitness and wellness instructor,offering a variety of both live and on-demand classes for all employees to participate.Help us shape the future of the global asset management industry.Experience a welcoming and inclusive culture to help you reach your professional and personal

167、potential.Be part of a firm that respects your time and ways of working.Employee Experience22Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Community EngagementResponsible Corporate PracticesG

168、RI/SASB Indexes EnvironmentCommunityEngagement At Franklin Templeton,we are proud of our commitment to support our communities where we live and work.Each year,we support hundreds of organizations around the world through charitable giving.We also support the volunteer work and activities of our emp

169、loyees worldwide.Franklin Templeton FY 2023 Corporate Social Responsibility Report Community Engagement Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee ExperienceResponsible Corporate PracticesGRI/SASB Indexes Environment23The Franklin Templeton Char

170、itable FoundationTo formalize decades of charitable giving,we established the Franklin Templeton Charitable Foundation in 2021 with a focus primarily on youth and educationand secondarily on health and human services.The foundation provides community grants,funding for disaster relief and special ca

171、mpaigns and support for our employee giving programs.Through our community grants initiative,we have core partnerships with dozens of global and regional charitable organizations,many that are longtime partnerships,including JA(Junior Achievement)Worldwide,Jumpstart for Young Children,LifeMoves and

172、many more.Employee volunteerism and giving We encourage our employees to make a difference in their communities,and our global volunteer program,known as Involved,amplifies their combined power.Involveds worldwide network of 30 chapters helps sustain our culture of community engagement and positive

173、action.And,with every employee offered one paid day off each year for volunteer work,Franklin Templeton employee volunteers collectively take part in hundreds of community service projects annually.We also support employees in their personal charitable efforts with matching gifts of up to$1,000 per

174、employee per year.And our Donations for Doers program rewards employees for volunteerism.For every 20 volunteer hours logged,employees can direct$250 to the eligible charity they choose up to twice annually.Every June,our Involved program sponsors Impact Days,Franklin Templetons global month of serv

175、ice.Last year,our Corporate Social Responsibility team invited colleagues around the world to participatein person or virtuallyin the firms tradition of service for the 17th year.Employees came together to support several worldwide projects:a global canned food drive with a structure build contest;a

176、 virtual mapping project to help map missing areas for humanitarian efforts;and a company-wide exercise and wellness campaign to unlock a firm-sponsored donation to a selected charity.Locally based projects included fundraisers for multiple causes,clothing and food drives,tree planting,home repair a

177、nd maintenance and community cleanups.Across our annual Impact Days,Franklin Templeton employees in nearly 50 offices and remote work locations around Global Involved Impact Days108 90 50events and opportunitiescharities supportedoffices and remote work locationsnearlythe world took part in 108 even

178、ts and individual opportunities supporting 90 charities.Involved holidays During the holiday season,employees in offices around the world showed their support for those in need.Through varied charitable projects,employees donated,collected and sorted gifts to distribute to children and families,host

179、ed a coat drive and helped facilitate a holiday gathering for residents in a homeless shelter.Nonprofit Board Leadership Program We encourage our interested employees in the United States to volunteer their time and service as members of nonprofit boards through our Nonprofit Board Leadership Progra

180、m.This program not only connects interested Franklin Templeton employees with nonprofit board service opportunities in their communities,but it also provides aspiring and current board members with resources and training for effective nonprofit board leadership,including group learning,shared forums

181、 and access to literature and resources on nonprofit governance best practices.Community Engagement24Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee ExperienceResponsible Corporate Pra

182、cticesGRI/SASB Indexes EnvironmentHarmon E.Burns Award Every year since 2007,we have honored an employee who shows exceptional commitment to their community with the Harmon E.Burns Award.Named for longtime Franklin Templeton executive Harmon Burns,who was known for his generosity and championing of

183、our culture of service,each years award goes to a winner chosen by internal judges from a wide range of nominations.We celebrate the winner and two runners-up at our annual,year-end employee meeting and then donate to their chosen organizations.In 2023,we honored our employee Prerna Nemali with the

184、Harmon E.Burns Award for her extraordinary commitment to community service.Based in our Hyderabad office in India,in 2014,Prerna founded her own nonprofit:With You,Spreading Smiles.Under her leadership,With You has grown to an organization of 80 volunteers today.It provides critically important serv

185、ices and support to a wide range of underserved communities,from orphans and underprivileged students to older adults,homeless people and individuals with disabilities.Mann Deshi Foundation Franklin Templeton formed a new partnership with the Mann Deshi Foundation,providing grant funding for its Bus

186、iness School on Wheels program.The partnership provides digital literacy,financial literacy and entrepreneurship development training to thousands of women in Mhaswad,Maharashtra,India.Our CEO Jenny Johnson unveiled a co-branded bus in a ribbon-cutting ceremony in February 2024.Junior Achievement(JA

187、)WorldwideFranklin Templeton is a longtime partner of JA Worldwide in support of its mission to prepare young people to succeed in the global economy.Through funding from our charitable foundation and more than 80 employee volunteers,the program delivers learning experiences to young students across

188、 the US,Canada,Hong Kong and Brazil.JA locations around the world work with our local offices to tailor the programming.Some experiences include“My Money,My Business”high school classroom instruction in Sao Paulo,Brazil,as well as student field trips to JA Finance Parks in Maryland,New Jersey and So

189、uth Florida US locations.“People think charity takes money and time.It does not.Its just 15 minutes in our day.Look around and find so many people in need.Interact with people.Find out what they need.Whatever way you can contribute to those in need,do it.”Prerna Nemali 2023 Harmon E.Burns Award Winn

190、er Community Engagement25Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee ExperienceResponsible Corporate PracticesGRI/SASB Indexes EnvironmentHumanitarian reliefIn 2023,devastating wil

191、dfires caused extensive damage and tragic loss of life in Canada and Maui,Hawaii.Through our charitable foundation,Franklin Templeton made donations to help with humanitarian aid and efforts in the regions and activated matching gifts campaigns.In addition,the charitable foundation coordinated donat

192、ions and matching gifts for regions in conflict and crisis to support emergency aid where most needed.And since we are not able to respond to all disasters,we donated to select humanitarian organizations,including Americares,to support their relief work around the world.Rise Against HungerFranklin T

193、empleton employees have taken part in Rise Against Hunger events for several years.The organizations goal is to end hunger,rooted in the belief that“it starts with a meal.”We hosted meal-packing events in our US locations in New York City and San Mateo,California.Collectively,employees assembled 20,

194、000 meals that were shipped to international communities in need.Jumpstart for Young ChildrenWe are proud to support Jumpstart for Young Children and its vision of every child entering kindergarten prepared to succeed.Jumpstart delivers high-quality learning programs to children in underserved commu

195、nities and helps drive systemic change through teaching,advocacy and leadership.In addition to providing annual funding,Franklin Templeton takes part in Jumpstarts annual Read for the Record Day,which brings adult volunteers together with millions of children across the United States and Canada.In 2

196、023,Franklin Templeton employees from seven offices read Jenny Torres Sanchezs With Lots of Love to more than 1,200 students,and the firm donated 2,000 copies of the book to students and schools.Community Engagement26Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents Introduc

197、tionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee ExperienceResponsible Corporate PracticesGRI/SASB Indexes Environment Doing the right thing has been the bedrock of our business since our founding.Today,we remain a trusted partner to our clients and stakeholders throu

198、gh our firm-wide commitment to honesty,accountability and ethical behavior in all we do.ResponsibleCorporatePracticesFranklin Templeton FY 2023 Corporate Social Responsibility Report27Responsible Corporate Practices Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclu

199、sion Employee Experience Community EngagementGRI/SASB Indexes EnvironmentOur Code of Ethics and Business Conduct is the foundation of our culture of trust and respect.Accountability for compliance starts with our executive leadership,extends throughout our organization and includes all employees.Our

200、 Board of Directors affirms governance practices and policies that cultivate and reinforce an environment of effective compliance.With support from senior management,our Regulatory Compliance Group oversees policies and programs and ensures that we have appropriate processes and procedures in place

201、to comply with evolving rules and requirements wherever we operate.We conduct regular internal audits and reviews and have established a corporate ombudsman and a confidential compliance and ethics hotline operated by a third party.Our centralized Financial Crime Compliance(FCC)team has responsibili

202、ty for financial controls,such as anti-money laundering(AML),anti-corruption,anti-terrorism financing and sanctions.In the past year,we expanded the AML policy and program to apply to our specialist investment managers,which includes requiring employees to complete our annual FCC training.Read our A

203、ML statement Risk management Clients trust us to maintain appropriate measures to manage risk of various kinds,from investment risk to enterprise risk and more.As responsible stewards of our clients assets,we promote and maintain a culture and operating model where risk management is every employees

204、 responsibility.More formally,our Enterprise Risk Management Committee(ERMC),composed of senior leaders representing all areas of our business,ensures that we proactively identify,assess,manage and monitor the firms most significant,or key,riskswhether they stem from strategic and ongoing business a

205、ctivities or from new and emerging sources.The ERMC works with support from the Enterprise Risk Management(ERM)team and program,and it reviews and discusses all key risks at least annually with the Board of Directors(or a board committee)and provides updates on the status of the ERM program to the A

206、udit Committee.The ERM program and its standards are overseen by the ERMC,with further reporting to both our Executive Committee and Board of Directors(or a board committee).Because we are asset managers,investment risk is a fundamental element of our business.Effective management of investment risk

207、 is central to meeting our clients objectivesas well as our firms.Our centralized Investment Risk team,comprising 100+risk professionals across the globe,is responsible for firm-wide governance and oversight of the investment risk framework,standards and reporting to ensure appropriate review and ch

208、allenge of our specialist investment teams across our global firm.The Investment Risk team also escalates issues to the CEO,CFO/COO and provides regular updates and reporting to both the Audit Committee and the boards of our individual investment funds.Global compliance Our Global Compliance team an

209、d program perform monitoring and reporting functions that set firm-wide and local standards.As our firm continues to grow around the world,we continue to expand and strengthen our Global Compliance team to make sure that we follow international and local regulatory requirements in all the countries

210、where we operate.In some still-evolving markets,our team has even worked with local regulators to share global best practices in developing effective regulation.and our anti-corruption policy overview.Franklin Templeton was not named in a money laundering incident for FY 2023.The teams sanctions pro

211、gram includes five pillars:Learn more about our sanctions program.Establishing and implementing policies and procedures.Independent testing.Designation of an AML Compliance Officer.Ongoing training.Understanding the nature and purpose of our customer relationships,with risk profiles and ongoing moni

212、toring.Responsible Corporate Practices28Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementGRI/SASB Indexes EnvironmentCybersecurity and data privacyMaintai

213、ning the confidentiality,integrity and availability of our services and safeguarding our customers data is one of our highest priorities.Our Chief Security Officer and Chief Risk and Transformation Officer oversee our information security program and report to the Executive Committee,Board of Direct

214、ors and Audit Committee at least annually.Our cybersecurity program is designed to continuously adapt to rapidly evolving technological capabilities,threat landscapes and regulatory requirements.Our cybersecurity program is designed to and aligns with industry standard frameworks.And our security op

215、erations teams deploy their extensive capabilities to identify,assess,detect and respond to cybersecurity risks and recover from potential incidents.We employ sophisticated prevention and detection measures to protect our systems,and we test their effectiveness through regular assessments,audits and

216、 reviews,conducted both internally and by independent third parties.Because all employees have a role in mitigating risk and preventing cyber-related issues,our Corporate Information Security Policy and Program includes annual training,at a minimum,for employees and contractors to preserve,improve a

217、nd account for the confidentiality and integrity of the firms information.In addition to ongoing security awareness training,we use the high profile of Cybersecurity Awareness Month to increase security education and communications for employees,contractors and clients.We also continue to enhance an

218、d increase employee awareness of phishing tactics and trends through a progressively challenging testing program.Franklin Templeton has a Global Privacy Office under the direction of the Chief Privacy Officer.This office owns the firms Corporate Privacy Policy and global privacy program,which is des

219、igned to formulate and enforce a global approach to data privacy that ensures we comply with applicable data privacy laws and regulations across the globe;minimize privacy risks to our clients,employees and the firm;and ensure that privacy practices are aligned with our values.Our approach to safegu

220、arding confidential informationincluding how our transfer agent manages our shareholders“nonpublic personal information”is outlined in our privacy notice,which is posted on our website and provided to new shareholders.The privacy notice includes information about what personal information we collect

221、,how we use it,privacy rights(such as access,deletion and rectification),our disclosure policy,employee confidentiality and system security approach.We continue to monitor and enhance our third-party risk management oversight process to address existing and new outsourced service providers.Transpare

222、nt and fair information to customersFranklin Templeton delivers a consistent,coordinated client experience.We offer a variety of channels to engage and inform customers,including an interactive website,online tools,routine publications,email communications,social media posts and a news site.Customer

223、s have access to dedicated email and telephone lines for additional support.We aim to provide information and assistance that is timely and accurate as a gateway to investment excellence.Related disclosures can be found in the SASB Index on page 47.Human rightsAs part of our firm-wide commitment to

224、accountability,honesty,integrity and ethics,we are committed to upholding basic human rights.Franklin Templeton has a zero-tolerance approach to modern slavery and human trafficking if identified within any part of our business.Read our Human Rights Policy Statement here.Please visit the Corporate S

225、ocial Responsibility page of our website for additional information.Responsible Corporate Practices29Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementGRI/

226、SASB Indexes EnvironmentAbout this reportThis Corporate Social Responsibility(“CSR”)report covers certain activities of Franklin Resources,Inc.and its consolidated subsidiaries(the“Company”)for fiscal year 2023(October 1,2022 through September 30,2023),unless otherwise noted.For the purpose of this

227、report,references to“Franklin Templeton”cover Franklin Resources,Inc.and its material subsidiaries and specialist investment managers except for Brandywine Global,Clarion Partners,ClearBridge Investments,Lexington Partners,Martin Currie,Royce Investment Partners and Western Asset unless specifically

228、 cited.This report does not include information about Putnam Investments,which the Company acquired effective January 1,2024,unless specifically cited.This report does not address the performance or operations of our suppliers,contractors or partners.The information contained in this report has not

229、been subject to external assurance from third parties unless specifically cited.Many of the targets,goals,impacts and programs described in this report are aspirational,and as such,no guarantees or promises are made that these goals and projects will be met or successfully executed.In this report we

230、 may use certain terms that the Global Reporting Initiative,Sustainability Accounting Standards Board or others refer to as“material”to reflect the issues or priorities of Franklin Resources,Inc.and its stakeholders.Used in this context,however,these terms are distinct from,and should not be confuse

231、d with,the terms“material”and“materiality”as defined by,or construed in accordance with,securities or other laws and regulations.Accordingly,issues or priorities considered material for purposes of this report may not be considered material in the context of our financial statements,reporting with t

232、he US Securities and Exchange Commission(“SEC”),or our other public statements.This report includes certain non-financial data and information that may be collected and measured using a variety of acceptable methods.The use of alternative acceptable measurement techniques to those used by the Compan

233、y could result in materially different measurements of the non-financial data and information presented in this report.This report contains forward-looking statements that are provided under the“safe harbor”protection of the Private Securities Litigation Reform Act of 1995,including statements regar

234、ding our targets,goals,impacts,programs,and other business plans,initiatives and objectives.Forward-looking statements include all statements that do not relate solely to historical or current facts and involve a number of known and unknown risks,uncertainties and other important factors that may ca

235、use actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements.Such risks,uncertainties and other important factors include,without limitation,the degree of support of our stakeholders for our CSR initiatives or other

236、challenges to the success of our CSR initiatives,and those described in our recent filings with the SEC,including,without limitation,in Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended Se

237、ptember 30,2023 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.If a circumstance occurs after the date of the applicable report that causes any of our forward-looking statements to be inaccurate,whether as a result of new information,future developments or otherwis

238、e,we undertake no obligation to announce publicly the change to our expectations,or to make any revision to our forward-looking statements,to reflect any change in assumptions,beliefs or expectations,or any change in events,conditions or circumstances upon which any forward-looking statement is base

239、d,unless required by law.30 Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate PracticesGRI/SASB IndexesFranklin Templeton FY 2023 Corporate Social Responsibility Report EnvironmentThis report was dev

240、eloped in reference to the Global Reporting Initiative(GRI)Sustainability Reporting Standards as well as the Sustainability Accounting Standards Board(SASB)Standards for the Asset Management and Custody Activities sector.The following indexes provide data for fiscal year 2023(October 1,2022September

241、 30,2023)unless otherwise noted.GRI and SASB IndexesGRI/SASB Indexes31Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate Practices Env

242、ironment31Disclosure#DisclosureReferences and ResponsesThe Organization and Its Reporting Practices21Organizational details,location,location of operations,ownershipFranklin Resources,Inc.(FRI)is a global investment management organization with subsidiaries operating as Franklin Templeton and is pub

243、licly traded on the New York Stock Exchange(NYSE:BEN).Through its specialist investment managers,the company offers specialization on a global scale,bringing extensive capabilities in fixed income,equity,alternatives and multi-asset solutions.With more than 1,500 investment professionals,and offices

244、 in major financial markets around the world,the California-based company has over 75 years of investment experience.For a description of our ownership,see:2024 Proxy Statement,p.25.One Franklin Parkway,San Mateo,CA 94403.We operate in 32 countriesArgentina,Australia,Austria,Bahamas,Belgium,Brazil,C

245、anada,Chile,China,France,Germany,India,Ireland,Israel,Italy,Japan,Luxembourg,Malaysia,Mexico,Netherlands,Poland,Romania,Singapore,South Africa,South Korea,Spain,Sweden,Switzerland,Turkey,United Arab Emirates,United Kingdom,United States.Our top five markets include:United States,Japan,Australia,Unit

246、ed Kingdom and Germany.Disclosure#DisclosureReferences and Responses22Entities included in the organizations sustainability reportingFranklin Templetons FY 2023 Corporate Social Responsibility Report provides data for fiscal year 2023(October 1,2022September 30,2023)unless otherwise noted.For additi

247、onal information about this report,please see page 30,“About this report.”“Franklin Templeton”for the purpose of this report covers Franklin Resources,Inc.and its material subsidiaries and specialist investment managers except for Brandywine Global,Clarion Partners,ClearBridge Investments,Lexington

248、Partners,Martin Currie,Royce Investment Partners and Western Asset Management unless specifically cited.This report does not include information about Putnam Investments,which Franklin Templeton acquired effective January 1,2024,unless specifically cited.See2023 10-K.23Reporting period,frequency and

249、 contact pointOctober 1,2022 through September 30,2023 unless otherwise specified in report.Annual.The publication date of this report is June 2024.Contact CSR.24Restatements of informationNot applicable.25External assuranceAs part of the firms carbon disclosure reporting process annually,Franklin T

250、empleton obtains third-party assurance for emissions at the corporate level.Senior leaders and the Corporate Governance Committee(of the firms Board of Directors)are updated on this process.The assurance certification can be found at within the CDP 2023 Climate Change Response for Franklin Resources

251、,Inc.FY 2022 emissions(Scope 1,Scope 2 and partial Scope 3Business Travel)included in the 2023 CDP submission received assurance by an external third party.The assurance level is limited.GRI 2:General Disclosures(per GRI 2021 Standards)GRI 1:Foundation(per GRI 2021 Standards)Disclosure#DisclosureRef

252、erences and ResponsesReporting Principles and RequirementsGlobal Reporting Initiative(GRI)IndexGRI/SASB Indexes32Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community En

253、gagementResponsible Corporate Practices EnvironmentGRI Index(continued)GRI 2:General Disclosures(continued)Disclosure#DisclosureReferences and ResponsesActivities and Workers26Activities,value chain,and other business relationshipsFor a description of our activities,brands,products,and services,see:

254、About us.Financial services products are regulated by governmental entities in each jurisdiction in which our products are offered and are subject to various regulatory requirements.For a description of the markets we serve,see:2023 10-K,Business,Our Business Structure pp.38.For our total number of

255、operations,see:2023 10-K,Properties p.27.For our net revenues,see:2023 10-K,Results of Operations pp.3237.For a description of our value chain see 2023 10-K,Business p.5.For information on changes in our share capital structure,see:2023 Annual Report,Diversification and discipline benefit shareholde

256、rs and clients p.4.27EmployeesTotal number of employees by region:RegionEmployees as of September 30,2023Asia2,430Canada243EMEA1,593Latin America151US(Including US Offshore)4,637Overall*9,054Disclosure#DisclosureReferences and ResponsesTotal number of employees by employment type(full-time and part-

257、time),by gender:Full TimePart TimeGrand TotalFemale3,545763,621Male5,395105,405Prefer Not to Say2727Unknown11Grand Total*8,968869,054*Metrics are as of 9/30/2023 and represent permanent employees.Includes Legg Mason Specialist Investment Manager employees(Brandywine Global,Clarion Partners,ClearBrid

258、ge Investments,Martin Currie,Royce Investment Partners and Western Asset)and Lexington Partners.28Workers who are not employeesSee GRI 27.Governance29Governance structure and compositionFor a description of our governance structure,see:2024 Proxy Statement,Corporate Governance p.14;2024 Proxy Statem

259、ent,Information About the Board and Its Committees pp.1623.210Nomination and selection of the highest governance body2024 Proxy Statement,p.5.211Chair of the highest governance bodyThe CEO and the Chair are two separate individuals.See 2024 Proxy Statement,p.21.GRI/SASB Indexes33Franklin Templeton F

260、Y 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate Practices EnvironmentGRI Index(continued)GRI 2:General Disclosures(continued)Disclosure#DisclosureRefer

261、ences and Responses212Role of the highest governance body in overseeing the management of impactsAccording to its Corporate Governance charter,the Corporate Governance Committee of the Board of Directors is responsible for assisting the board in overseeing the companys corporate responsibility and s

262、ustainability programs related to environmental,social and governance(“ESG”)matters(including reviewing stockholder engagement efforts related to ESG matters),except to the extent reserved to the full Board or another committee of the Board.213Delegation of responsibility for managing impactsSee Cor

263、porate Governance charter for committees responsibility for oversight of CSR and ESG matters.See Stewardship&Sustainable Investing p.8 for roles and responsibilities;See 2024 Proxy Statement,pp.2223 for responsibility of management of impacts.Relevant senior executives report regularly(up to five ti

264、mes a year)to the Corporate Governance committee of the Board of Directors who has responsibility for oversight of CSR and ESG matters.214Role of the highest governance body in sustainability reportingThe Corporate Governance Committee of the Board of Directors,which has oversight of ESG and CSR acc

265、ording to its charter,receives updates on the CSR report before publishing,which includes the organizations material topics.215Conflicts of interestSee Code of Ethics and Business Conduct,p.5.216Communication of critical concernsSee Code of Ethics and Business Conduct,p.5.Disclosure#DisclosureRefere

266、nces and Responses217Collective knowledge of the highest governance bodyAt least quarterly,the Corporate Governance Committee of the Board of Directors,which has oversight of ESG and CSR matters according to its charter,receives updates on CSR and sustainability initiatives and informational session

267、s.As needed,external consultants are brought in to provide the committee with additional information around sustainability oriented topics.218Evaluation of the performance of the highest governance body2024 Proxy Statement,p.24 and pp.3036.219Remuneration policies2024 Proxy Statement,p.24 and pp.303

268、6.220Process to determine remuneration2024 Proxy Statement,pp.2864.221Annual total compensation ratio2024 Proxy Statement,pp.2864.222Statement on sustainable development strategy2023 Stewardship Report;FY2023 CSR ReportLetter from CEO and President,p.5.GRI/SASB Indexes34Franklin Templeton FY 2023 Co

269、rporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate Practices EnvironmentDisclosure#DisclosureReferences and Responses226Mechanisms for seeking advice and raising c

270、oncernsOur Code of Ethics and Business Conduct describes our values and standards of behavior for all employees.Employees are encouraged to seek advice from the following with any questions or concerns:Speak with your supervisor.Speak with your local Human Resources Department.Speak with your local

271、Legal and Compliance resources.Contact the Compliance and Ethics Hotline(including option to submit report online).Contact the Franklin Ombudsman.Contact the General Counsel,the Director of Internal Audit or the Franklin Resources,Inc.Audit Committee,including to report any suspected,attempted,or ac

272、tual fraud.Franklin Templeton will not allow retaliation to be taken against an employee who has made such a report in good faith.227Compliance with laws and regulationsFranklin Templeton reported no significant instances of non-compliance with laws and regulations,nor any significant associated fin

273、es,in 2023.Disclosure#DisclosureReferences and ResponsesStrategy,Policies and Practices223Policy commitmentsSee Code of Ethics and Business Conduct and Anti-Corruption Policy Overview.Franklin Templeton has a zero-tolerance approach to modern slavery and human trafficking if identified within any pa

274、rt of our business.See Responsible Corporate Practices section p.29.To manage the investments of our clients that maximizes their investments and assesses the economic,geopolitical risks and environmental considerations,see our Sustainable Investing and Stewardship Policies.Read our Human Rights Pol

275、icy Statement here.224Embedding policy commitments See GRI 223.225Processes to remediate negative impactsSee Code of Ethics and Business Conduct.Consistent with our commitment to the Code of Ethics and Business Conduct,Franklin Templeton has established a company-wide Compliance and Ethics Hotline a

276、ccessible to all employees.GRI Index(continued)GRI 2:General Disclosures(continued)GRI/SASB Indexes35Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResp

277、onsible Corporate Practices EnvironmentDisclosure#DisclosureReferences and ResponsesIMVB Covenant of the Dutch Pension FederationInstitutional Investors Council Malaysia(IIC)Institutional Investors Group on Climate Change(IIGCC)Interfaith Center on Corporate Responsibility(ICCR)International Corpora

278、te Governance Network(ICGN)Investment Association(IA)Italian Stewardship Principles for the exercise of administrative and voting rights in listed companiesAssogestioniJapan Stewardship Code(Principles for Responsible Institutional Investors=Japans Stewardship Code)Korean Stewardship Code(Principles

279、 on the Stewardship Responsibilities of Institutional Investors)Malaysian Code for Institutional Investor(MCII)Net Zero Asset Managers initiative(NZAM)Official Monetary and Financial Institutions Forum(OMFIF)Operating Principles for Impact ManagementPartnership for Biodiversity Accounting Financials

280、(PBAF)Pensions for PurposePrinciples for Responsible Investment(PRI)Responsible Investment Association(RIA)CanadaResponsible Investment Association Australasia(RIAA)SIFMA AMG(The Securities Industry and Financial Markets Association Asset Management Group)Singapore Stewardship Principles(SSP)Sustain

281、able Development GoalsSweden:Guidelines for fund management companies shareholder engagement,issued by Swedish Investment Fund Association in Feb 2002 and revised in May 2019.The Access to Medicine IndexThe Forum for Sustainable and Responsible Investment(USSIF)The Taskforce on Climate Related Finan

282、cial Disclosures(TCFD)The Urban Land Institute(ULI)Greenprint CenterTransition Pathway Initiative(TPI)UK Stewardship CodeFRCUK Sustainable Investment and Finance Association(UKSIF)USGBC(US Green Building Council)Ceres Valuing Water Finance InitiativeWaterfront PartnershipDisclosure#DisclosureReferen

283、ces and Responses228Membership associationsWe actively engage with forums and associations to collaborate and stay abreast of CSR and sustainability related best practices,issues and developments.Asian Corporate Governance Association(ACGA)Asia Investor Group on Climate Change(AIGCC)ASIFMA AMG(Asia

284、Securities Industry&Financial Markets Association)(Asset Management Group)Australia:Principles of Internal Governance and Asset StewardshipBoard Director Training Institute of JapanBoston College Center for Corporate CitizenshipCanadian Coalition for Good Governance(CCGG)CDP(formerly Carbon Disclosu

285、re Project)Ceres Investor Network on Climate Risk and SustainabilityClimate Action 100+Confederation of British Industry(CBI)Confluence PhilanthropyCouncil for Inclusive Capitalism(CIC)Council of Institutional Investors(CII)Ethical IntelligenceEuropean Fund and Asset Management Association(EFAMA)Eur

286、opean Securities and Markets Authority(ESMA)European Sustainable Investment Forum(Eurosif)FAIRR(Farm Animal Investment Risk and Return)Financing a Just Transition AllianceFindatex(Financial Data Exchange Templates)Foro de Inversin Sostenible de Espaa(Spainsif)Forum per la Finanza Sostenible(ItaSIF)G

287、lobal Impact Investing Network(GIIN)GPCA(Global Private Capital Association)Gratitude RailroadGRESB(formerly Global Real Estate Sustainability Benchmark“now cover real assets,including infrastructure,name is simply“GRESB”)Hong Kong,Hong Kong principle of responsible ownership,Securities and Future C

288、ommissionHuman Capital Management Coalition(HCMC)IAA(Investment Adviser Association)IFRS Sustainability Alliance ISSB International Sustainability Standards(incl,SASB standards)GRI Index(continued)GRI 2:General Disclosures(continued)GRI/SASB Indexes36Franklin Templeton FY 2023 Corporate Social Respo

289、nsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate Practices EnvironmentDisclosure#DisclosureReferences and ResponsesStakeholder Engagement229Approach to stakeholder engagementWe enga

290、ge with a broad spectrum of stakeholders,including clients,investors,employees,membership associations,industry bodies and charitable partners.The Corporate Social Responsibility office identified a list of key stakeholders who impact and/or are impacted by Franklin Templetons business and communiti

291、es.For more information,see:Our Corporate Social Responsibility Reporting,Stakeholder Engagement and Materiality,p.6.230Collective bargaining agreementsLess than 1%of Franklin Templeton employees are represented by unions,in various countries outside of the U.S.Franklin Templeton determines the work

292、ing conditions and terms of employment for employees in accordance with all applicable laws and regulations.GRI 3 Material Topics(per GRI 2021 Standards)31Process to determine material topicsStakeholder Engagement and Materiality,p.6.In early 2024,we engaged internal and external stakeholders in a p

293、rocess to evaluate CSR materiality at Franklin Templeton.Through extensive surveys and interviews,industry benchmarking and a review of primary international reporting frameworks,we reaffirmed Franklin Templetons six dimensions of CSR as listed in 32.32List of material topicsFranklin Templetons mate

294、rial topics,which we refer to as“our six dimensions of CSR,”are:Stewardship and Sustainable Investing.Environment.Diversity,Equity and Inclusion.Employee Experience.Community Engagement.Responsible Corporate Practices.Disclosure#DisclosureReferences and Responses228(continued)Membership associations

295、Diversity,equity and inclusion memberships and associations include:10,000 Black Interns100 Women in FinanceAscendAssociation for Wholesaling DiversityBlack CapitalBlack Professionals ScotlandRenamed Black Professionals UKBoys and Girls ClubsCareer ReadyCatalyst:Workplaces that work for womenCEO Act

296、ion for Diversity&InclusionCFA Diversity,Equity,and Inclusion CodeCharte de le Diversit Letzebuerg(The Diversity Charter)Diversity JobsEnvestnet InstituteFARE(Financial Alliance for Racial Equity)Gain(Girls Are INvestors)Greater Baltimore Committee(and the Baltimore Womens Advisory Board)Investment

297、20/20Leonard CheshireMamo Pracuj FoundationNational Black MBA Association(NBMBAA)Nex Cubed Historically Black Colleges&Universities Founders ProgramOut&EqualSeramountStonewall Workplace Equality IndexTeam ImpactThe Diversity Project EuropeThe Diversity Project UKThe Equity CollectiveThe Robertson Tr

298、ustToigo FoundationWomen in Finance(UK and Luxemburg Charters)GRI Index(continued)GRI 2:General Disclosures(continued)GRI/SASB Indexes37Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee

299、Experience Community EngagementResponsible Corporate Practices EnvironmentDisclosure#DisclosureReferences and Responses2013Defined benefit plan obligations and other retirement plansUS employees*receive an$.85 match for every dollar they contribute up to IRS limits.FY 2023 participation rate=93%*and

300、 FY 2023 match funding:$53,344,263.Employee can contribute up to 50%of their paycheck,100%of cash bonus.Employer contributes 85%of employees contribution.*We continuously refine our retirement plans globally to be competitive in the local markets.*The 401(k)Plan metrics are for US Franklin Templeton

301、 and participating SIMsClearBridge,Brandywine Global,and Martin Currie.The participation rate for Franklin Templeton and participating SIMs is determined by the number of eligible employees that participate in the Plan.2014Financial assistance received from governmentNot applicable.GRI 3 Material To

302、pics:Indirect Economic Impacts(per GRI 2021 Standards)33Management of material topicsStakeholder Engagement and Materiality,p.6.For information about our management approach for this topic,see:Community Engagement pp.2326.2031Infrastructure investments and services supportedStakeholder Engagement an

303、d Materiality,p.6.For information about our management approach for this topic,see:Community Engagement pp.2326.As an example of infrastructure investments and services,Franklin Templeton has a longtime partnership with a charitable organization in India to install water treatment plants.Over the co

304、urse of the partnership,the program has resulted in installation of 362 plants benefiting over 600,000 people.Disclosure#DisclosureReferences and ResponsesGRI 3 Material Topics:Economic Performance(per GRI 2021 Standards)33Management of material topicsStakeholder Engagement and Materiality,p.6.For i

305、nformation on our management approach for this topic see:2023 Annual Report,CEO Letter pp.13;2023 10-K,Business pp.315,Risk Factors pp.1626,Managements Discussion and Analysis of Financial Condition and Results of Operations pp.3054,Quantitative and Qualitative Disclosures About Market Risk pp.5556.

306、GRI 201:Economic Performance(per GRI 2016 Standards)2011Direct economic value generated and distributedDirect economic value generated(GAAP values):Revenues,$7,849.4 million.Economic value distributed:Operating costs:$6,747.1 million.Employee wages and benefits:$3,494.0 million.Payments to providers

307、 of capital:Interest expense$123.7 million;dividends$611.4 million.Payments to government by country:Not available.Community investments:Community Engagement,p.23.2012Financial implications and other risks and opportunities due to climate changeFor information on our risks and opportunities from cli

308、mate change,see:Franklin Templetons FY 2023 TCFD Corporate Report.GRI Index(continued)GRI/SASB Indexes38Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDiversity,Equity and Inclusion Employee Experience Community EngagementR

309、esponsible Corporate Practices EnvironmentDisclosure#DisclosureReferences and Responses2052Communication and training about anti-corruption policies and proceduresA link to Franklin Templetons Anti-Corruption Policy Overview,which was amended effective December 16,2022,is available and communicated

310、to 100%of employees and FRI subsidiaries.The policy is available to 100%of employees through various intranet sites,communicated periodically(email communication-Nov 2022;annual event post on Franklin Templeton employees site for International Anti-Corruption day-Dec 2023)and link also included in a

311、nnual training for all employees.This is communicated to new SIMs(i.e.,to Putnam,new subsidiarys employees-Feb 2024)and policy updates shared with SIMs Compliance teams to be shared with the employees.High risk business relationships that do not have their own anti-corruption program will receive co

312、pies of our policy and a link to our statement,and contracts will contain respective anti-corruption clause.Please see also the information shared with vendors/suppliers:https:/ training for our Board took place in October 2022.Additionally,in December 2023,Anti-Corruption training was provided to e

313、xternal directors of Malaysia(2)and Saudi Arabia(2)Boards.99%of Franklin Templeton and SIMs employees have completed Anti-Corruption training.2053Confirmed incidents of corruption and actions takenFranklin Templeton had no reported incidents of corruption in 2023.GRI 3 Material Topics:Anti-Competiti

314、ve Behavior(per GRI 2016 Standards)33Management approachStakeholder Engagement and Materiality,p.6.For information about our management approach for this topic,see:Responsible Corporate Practices,pp.2729;Code of Ethics and Business Conduct.Disclosure#DisclosureReferences and ResponsesGRI 205:Anti-Co

315、rruption(per GRI 2016 Standards)33Management of material topicsStakeholder Engagement and Materiality,p.6.For information about our management approach for this topic,see:our Anti-Corruption Policy Overview;Responsible Corporate Practices,pp.2729;Code of Ethics and Business Conduct,p.6.2051Operation

316、s assessed for risks related to corruptionAn assessment of corruption related risks is conducted on 100%of FRI operations(incl.SIMs)annually.Different risks(i.e.,government officials,third party,G&E,T&E)are assessed for all operations.Our corruption risks include business relationships with governme

317、nt entities in high risk countries,and introducer/finder relationships.See our Anti-Corruption Policy Overview for more information.GRI Index(continued)GRI/SASB Indexes39Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable InvestingDivers

318、ity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate Practices EnvironmentDisclosure#DisclosureReferences and Responses2074Country-by-country reportingThe entities included in our audited consolidated financial statements are generally resident in their local jurisd

319、ictions for tax purposes,with a few exceptions due to regulatory or operational reasons.Details are included with our tax returns filings.For material jurisdiction information,see:2023 10-K,Note 13 p.85.The covered period in question is for each fiscal year.These disclosures are part of the CBCR tha

320、t we complete and file with the Companys consolidated US federal tax returns annually.GRI 3 Material Topics:Energy(per GRI 2021 Standards)33Management approachStakeholder Engagement and Materiality,p.6.For information about our management approach for this topic,see:Environment,pp.1114;CDP 2023 Clim

321、ate Change Response,C0.3,C2(Risks and opportunities),C3(Business strategy),C4(Targets and performance);Environmental Policy Statement.Energy and Emissions data within this report represents FY 2022 data submitted in the most recent CDP submission(2023);once available,the FY 2023 data will be availab

322、le on the companys CSR website.GRI 302:Energy(per GRI 2016 Standards)3021Energy consumption within the organizationConsumption of fuel(excluding feedstock)HHV(higher heating value)49,528 MWhConsumption of self-generated non-fuel renewable energy 0 MWhTotal energy consumption(renewable and non-renewa

323、ble)82,527 MWhConsumption of purchased or acquired heat,cooling and consumption of purchased/acquired steam 0 MWhElectricity,heating,cooling and steam sold0 MWhTotal energy consumption(renewable and non-renewable)132,054.21 MWhGHG Protocol:ADCCEE(2022),AIB(2022),Defra(2022),Environment Canada(2022),

324、Green-e(2022),IEA(2022),IPCC(2022),USEPA(2022),USEPA Emission Factors Hub(last modified:March 2020)Disclosure#DisclosureReferences and Responses2061Legal actions for anti-competitive behavior,anti-trust,and monopoly practicesFranklin Templeton had no anti-competitive litigation actions this year.GRI

325、 3 Material Topics:Tax(per GRI 2021 Standards)33Management of material topicsStakeholder Engagement and Materiality,p.6.For information about our management approach for this topic,see:2023 10-K,Regulation p.9,Legal and Regulatory Risks pp.2426,Note 14 pp.8889;2024 Proxy Statement,Compensation Discu

326、ssion&Analysis p.28.GRI 207:Tax(per GRI 2021 Standards)2071Approach to taxAs a company,we firmly believe in adhering to the tax rules and regulations in the jurisdictions that we operate or plan to operate in.We comply with the tax filing requirements when/where required.2072Tax governance,control,a

327、nd risk managementTax risks are assessed as part of our quarterly tax provision cycles.Tax strategies and plans are developed in partnership with the relevant business teams or stakeholders.We hold discussions with stakeholders prior to execution of any plans.Our Tax team operates based on the estab

328、lished control process.The Internal Audit and Risk teams test the control process periodically.Concerns about tax behavior may be reported to our Ethics Hotline,whose contact information is located on the company intranet available to all employees.For more information about tax and assurance,see:20

329、23 10-K,Report of Independent Registered Public Accounting Firm pp.5960,Note 13 pp.8587.GRI Index(continued)GRI 3 Material Topics:Anti-Competitive Behavior(continued)GRI/SASB Indexes40Franklin Templeton FY 2023 Corporate Social Responsibility Report Contents IntroductionStewardship and Sustainable I

330、nvestingDiversity,Equity and Inclusion Employee Experience Community EngagementResponsible Corporate Practices EnvironmentDisclosure#DisclosureReferences and ResponsesGRI 3 Material Topics:Emissions(per GRI 2021 Standards)33Management of material topicsStakeholder Engagement and Materiality,p.6.For

331、information about our management approach for this topic,see:Stewardship and Sustainable Investing,pp.710;Environment,pp.1114;CDP 2023 Climate Change Response,C0.3,C2(Risks and opportunities),C3(Business strategy),C4(Targets and performance);Environmental Policy Statement;Sustainable Investing.Energ

332、y and Emissions data represents FY 2022 data submitted in the most recent CDP submission(2023);once available,the FY 2023 data will be available on the companys CSR website.GRI 305:Emissions(per GRI 2016 Standards)3051Direct(Scope 1)GHG emissionsGross direct(Scope 1)GHG emissions in metric tons of C

333、O2 equivalent:11,655 MtCO2e.Gases included in the calculation;whether CO2,CH4,N2O,HFCs,PFCs,SF6,NF3,or all:CO2,CH4 and N2O were included.Biogenic CO2 emissions in metric tons of CO2 equivalent:None.Base year for the calculation:2019.Rationale for choosing it:Acquisition of Legg Mason.Emissions in the base year:11,804 MtCO2e.Context for any significant changes in emissions that triggered recalculat