ESG In Putnam operations

Community engagement, environmental impact, and governance standards

Supporting our community is integral to our corporate culture. Employees can use two paid days off each year to volunteer for charitable work. Putnam supports several non-profits that promote financial literacy and diversity within the asset management profession, including Invest in Girls, BLK Capital, and the Robert Toigo Foundation.

Putnam works to minimize our environmental impact within our leased office space in Boston and Andover through initiatives around energy consumption and water conservation. Putnam's Boston headquarters, at 100 Federal Street, is both Energy Star labeled (indicating performance above 75% of similar buildings nationwide on ETA set energy performance standards) as well as Silver LEED certified by the U.S. Green Building Council. In 2018, Putnam instituted more environmentally friendly meeting practices, eliminating single-use plastic items.

In 2018, Putnam instituted ESG-friendly spaces, eliminating single-use plastic items.

Our parent company, Great-West Lifeco, has been recognized as a leader in carbon and climate risk management, earning an A- (leadership) rating in 2019 from the CDP. The CDP's 2018 Climate Change Questionnaire identifies global leaders in the management of carbon, climate change risks, and low-carbon opportunities.

Governance underpins our code of ethics and ongoing management practice. Putnam's governing board comprises Putnam executives; officers of Putnam's parent company, Great-West Lifeco; and a number of independent directors with no material relationship with the company. Putnam's Board of Trustees for the Putnam funds is responsible for the general oversight of each fund's business and for helping to protect the interests of shareholders.

Putnam is a subsidiary of Great-West Lifeco Inc. and a member of the Power Corporation Group of Companies. You can find out more about corporate social responsibility at Great-West Lifeco, Inc. and Power Financial.