Climate Change Data

Putnam Investments

Climate Impact & Sustainability Data (2022-2023, 2024-01)

Reporting Period: 2022-2023

Environmental Metrics

Total Carbon Emissions:228,498 MTCO2e (2021); 226,373 MTCO2e (2022)
Scope 1 Emissions:41,036.87 MTCO2e
Scope 2 Emissions:166,487.54 MTCO2e
Scope 3 Emissions:151,821.86 MTCO2e
Renewable Energy Share:Not disclosed
Total Energy Consumption:823,455,891 kWh (2021); 808,162,456 kWh (2022)
Water Consumption:6,008,788 m3 (2021); 5,662,434 m3 (2022)
Waste Generated:40,122 MT (2021); 41,240 MT (2022)
Carbon Intensity:0.00279 MTCO2e/sf (2022)

ESG Focus Areas

  • Climate Risk Resilience
  • Decarbonization
  • Diversity, Equity, and Inclusion (DEI)
  • Energy Efficiency
  • Renewable Energy

Environmental Achievements

  • Achieved 78 ENERGY STAR Certifications in 2022
  • Completed lighting retrofit projects at 62 industrial properties, with a cumulative anticipated savings of $1.17 million
  • Producing 31.5 megawatts (MW) of solar on rooftops
  • Completed a building-level resilience assessment at 836 U.S. assets and developed our Firm-wide resilience strategy

Social Achievements

  • Four of our recent SEO summer interns joined the Firm as full-time Analysts
  • Renewed financial commitment to the PREA Foundation
  • Relaunched partnership with Project REAP
  • Named a Pensions & Investments (P&I) 2022 Best Place to Work in Money Management and a GlobeSt. Commercial Real Estate’s Best Place to Work 2023

Governance Achievements

  • Established DEI Council and developed Firm-wide DEI Framework
  • Annual GRESB reporting for nine funds and separate accounts
  • Participation in GRESB for 11 years and UN-supported PRI for 12 years

Climate Goals & Targets

Long-term Goals:
  • Net Zero by 2050 for landlord-controlled GHG emissions
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Incomplete or inaccurate ESG data from third-party reporting
  • Tenant-controlled consumption data limiting real-time access
Mitigation Strategies
  • Aligned with ESG teams at property management partners to streamline data sharing
  • Added consulting support for regular ESG performance data updates
  • Developed an ESG Data Management Guide
  • Enhanced ESG survey for asset-level data
  • Piloted shadow metering project
  • Exploring rollout of automated data collection methods

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Vendor Diversity Questionnaire

Climate-Related Risks & Opportunities

Physical Risks
  • Wildfire
  • Sea level rise
  • Flooding
  • Air quality
Transition Risks
  • Evolving energy and sustainability regulations
Opportunities
  • Renewable energy projects
  • Energy efficiency improvements

Reporting Standards

Frameworks Used: GRI 2021 Standards, GRESB, TCFD, UN PRI

Certifications: LEED, ENERGY STAR, Fitwel, IREM CSP, BREEAM

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Clarion aligns with eight UN SDGs

Sustainable Products & Innovation

  • LEED Volume program for industrial developments

Awards & Recognition

  • 2022 P&I Best Place to Work
  • 2023 GlobeSt. Best Place to Work
  • 2023 ENERGY STAR Partner of the Year
  • 2023 Fitwel Best in Building Health Award

Reporting Period: 2024-01

Environmental Metrics

ESG Focus Areas

  • Climate Change

Environmental Achievements

  • Headquarters moved to a LEED Silver certified building in Boston (2021), later achieving LEED Platinum certification (2022)
  • Transportation-related emission reduction initiatives launched (1999)

Governance Achievements

  • ESG Leadership Committee established (2020)

Climate Goals & Targets

Environmental Challenges

  • Transition risks associated with decarbonization policies and greenhouse gas emission reduction targets
  • Physical risks associated with acute and chronic weather-related events
Mitigation Strategies
  • Integrate financially material climate-related risks and opportunities in fundamental research processes
  • Include climate risk assessments in risk oversight processes
  • Apply active stewardship efforts (engagement and proxy voting)
  • Increase internal expertise regarding climate risks

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Acute weather-driven events (droughts, floods, or fires)
  • Chronic shifts in weather patterns
Transition Risks
  • Legal and regulatory actions
  • Technology changes
  • Market responses
  • Reputational considerations
Opportunities
  • Technology opportunities that may arise from changes required for the low-carbon economy transition

Reporting Standards

Frameworks Used: TCFD