April 2020

Sustainability and impact report

A dialogue with investors

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Impact Report

Endnotes

  1. Putnam Sustainable Leaders Fund changed its benchmark in August 2019 to the S&P 500 from the Russell 3000 Growth Index.
  2. See Putnam's engagement policy at https://www.putnam.com/static/pdf/institutional/esg_engagement_policy.pdf
  3. https://materiality.sasb.org/
  4. https://www.putnam.com/individual/how-we-invest/sustainable-investing/ and https://www.putnam.com/individual/how-we-invest/sustainable-investing/
  5. Khan, Mozaffar, George Serafeim, and Aaron Yoon. “Corporate Sustainability: First Evidence on Materiality.” SSRN Electronic Journal, 2015. http://www.sustainablefinance.ch/upload/cms/user/CorporateSustainability_Firstevidenceonmateriality_Khan_ Serafeim_Yoon_February2015.pdfdoi:10.2139/ssrn.2575912
  6. Pages 4-5 https://www.ipcc.ch/site/assets/uploads/2018/02/SYR_AR5_FINAL_full.pdf
  7. https://sustainabledevelopment.un.org/#
  8. AES Environmental Performance Update 2018 (https://s2.q4cdn.com/825052743/files/doc_downloads/sustanaibility/2018/02-07-18-Environmental-Performance_FINAL.PDF)
  9. http://www.nexteraenergy.com/pdf/Executive_Digest_Final.pdf
  10. All #s in this paragraph from Ameren's public investor relation presentation/site: https://s21.q4cdn.com/448935352/files/doc_presentations/2020/03/Investor-Meetings-Mar.-30-Apr.-1-FINAL.pdf
  11. http://english.ckgsb.edu.cn/sites/default/files/files/Board%20Diversity_20160201.pdf
  12. McKinsey, Women Matter Time to accelerate, October 2017, for 2008 data, and Putnam for 2019 calculation.
  13. https://www.wcwonline.org/pdf/CriticalMassExecSummary.pdf
  14. Hong and Page, Groups of diverse problem solvers can outperform groups of high-ability problem solvers https://www.pnas.org/content/101/46/16385
  15. https://www.mayoclinic.org/healthy-lifestyle/nutrition-and-healthy-eating/in-depth/added-sugar/art-20045328
  16. https://onlinelibrary.wiley.com/doi/full/10.1111/1541-4337.12151
  17. Both refined white sugar and brown sugar are produced from sugarcane or sugar beet plants through an extraction, purification, and heating process. A centrifuge machine is then used to separate sugar crystals from molasses. Relative to brown sugar, white sugar has additional processing that removes any remaining molasses and forms even smaller sugar crystals. Unrefined brown sugar simply undergoes less processing than white sugar and retains some of its molasses content creating a natural brown color. While brown sugar has slightly higher amounts of calcium, iron, and potassium and slightly fewer calories per serving than white sugar, these differences are insignificant.
  18. https://www.cdc.gov/nutrition/data-statistics/know-your-limit-for-added-sugars.html
  19. https://www.healthline.com/nutrition/too-much-sugar#section10
  20. https://jamanetwork.com/journals/jamainternalmedicine/fullarticle/1819573
  21. https://www.ahajournals.org/doi/10.1161/CIRCULATIONAHA.109.192627
  22. Cliff bar nutritional info and American heart Association (https://www.heart.org)
  23. Snickers website: www.marschocolate.com/snickers/snickers-original-single
  24. https://www.heinz.com/product/00013000001243
  25. McCormick investor presentation: https://www.ir.mccormick.com/static-files/7d05db22-a686-4a0f-90fd-0e67433b31368
  26. https://www.cambridge.org/core/services/aop-cambridge-core/content/view/B2C8C168FFA377DD2880A217DB6AF26F/S1368980014001943a.pdf/is_cooking_at_home_associated_with_better_diet_quality_or_weightloss_intention.pdf
  27. https://care.diabetesjournals.org/content/26/12/3215
  28. https://ncbi.nlm.nih.gov/pmc/articles/PMC2901047/
  29. https://www.healthline.com/nutrition/10-benefits-of-low-carb-ketogenic-diets#section10
  30. https://www.questnutrition.com/products/quest-low-carb-protein-bar-chocolate-brownie
  31. https://www.shopatkins.com
  32. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5577881/#SP1
  33. https://josephpoore.com/Science%20360%206392%20987%20-%20Accepted%20Manuscript.pdf
  34. https://www.pnas.org/content/111/33/11996
  35. https://news.gallup.com/poll/238328/snapshot-few-americans-vegetarian-vegan.aspx
  36. https://www.medicalnewstoday.com/articles/322827#which-is-better-for-building-muscle
  37. Colin Campbell and Thomas Campbell The China Study: The Most Comprehensive Study of Nutrition Ever Conducted and the Startling Implications for Diet, Weight Loss, And Long-term Health
  38. https://www.nielsen.com/us/en/insights/article/2018/plant-based-food-options-are-sprouting-growth-for-retailers/
  39. https://www.nielsen.com/us/en/insights/article/2017/plant-based-proteins-are-gaining-dollar-share-among-north-americans/
  40. https://www.nielsen.com/us/en/insights/article/2018/plant-based-food-options-are-sprouting-growth-for-retailers/
  41. https://www.nomadfoods.com/wp-content/uploads/2020
  42. https://www.nomadfoods.com/wp-content/uploads/2020
  43. https://www.nature.com/articles/s41598-019-46590-1
  44. https://www.nature.com/articles/srep14625
  45. https://www.nature.com/articles/srep14625
  46. In a study of 2800 Austrian households, participants wasted 9.3% of total fresh food purchased as compared to 1.6% of total frozen food purchased, adding up to 37.48kg of fresh food thrown away per household per person each year as compared to 6.46kg for frozen food. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5868547
  47. https://centmapress.ilb.uni-bonn.de/ojs/index.php/fsd/article/view/247
  48. https://www.ncbi.nlm.nih.gov/pubmed/28728684
  49. https://www.ahajournals.org/doi/epub/10.1161/JAHA.119.012865
  50. https://professional.heart.org/idc/groups/ahamah-public/@wcm/@sop/@smd/documents/downloadable/ucm_505473.pdf
  51. https://www.fdic.gov/news/news/press/2018/pr18077.html
  52. https://www.worldbank.org/en/news/press-release/2018/04/19/financial-inclusion-on-the-rise-but-gaps-remain-global-findex-database-shows
  53. https://publicpolicy.wharton.upenn.edu/live/news/1895-financial-exclusion-why-it-is-more-expensive-to-be
  54. https://www.worldbank.org/en/news/press-release/2015/04/17/world-bank-group-coalition-partners-make-commitments-accelerate-universal-financial-access
  55. https://usa.visa.com/about-visa/financial-inclusion.html
  56. https://usa.visa.com/dam/VCOM/download/corporate-responsibility/visa-2018-corporate-responsibility-report.pdf
  57. https://www.mastercard.us/en-us/about-mastercard/corp-responsibility/financial-inclusion.html;
  58. https://usa.visa.com/dam/VCOM/download/corporate-responsibility/visa-2018-corporate-responsibility-report.pdf
  59. https://www.mastercard.us/content/dam/mccom/global/documents/financial-inclusion/catalyzing-microbusinesses-for-economic-growth-09172019.pdf
  60. https://usa.visa.com/about-visa/financial-inclusion.html
  61. https://newsroom.mastercard.com/press-releases/the-rockefeller-foundation-and-mastercard-announce-grants-to-benefits-data-trust-totaling-7-5-million/
  62. https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.11016.html
  63. https://cidadaniafinanceira.bcb.gov.br/forum/Documents/2016/Apresentacoes/II_Forum_CF_MGI_Tim_Kudo.pdf
  64. https://www.worldbank.org/en/topic/smefinance
  65. https://www.fdic.gov/news/news/press/2018/pr18077.html
  66. https://www.healthaffairs.org/doi/pdf/10.1377/hlthaff.2019.01451
  67. https://www.milliman.com/insight/2019-Milliman-Medical-Index
  68. www.cms.gov/resarch-statistics-data-and-systems/statistics-trends-and-reports/nationalhealthexpenddata/ nationalhealthaccountshistorical.html
  69. https://khn.org/news/cost-of-diabetes-drugs-often-overlooked-but-it-shouldnt-be/
  70. https://www.cdc.gov/chronicdisease/resources/publications/factsheets/diabetes-prediabetes.htm
  71. On average, individuals using Livongo's various solutions have achieved ADA recommended ranges for HbA1c blood glucose levels, reductions in blood pressure associated with 22% reduction in coronary heart disease and 41% reduction in stroke, and 7% total weight loss after 12 months of using the solution.https://www2.livongo.com/
  72. https://www.diabetes.org/resources/statistics/cost-diabetes
  73. https://khn.org/news/cost-of-diabetes-drugs-often-overlooked-but-it-shouldnt-be/
  74. https://s21.q4cdn.com/672268105/files/doc_presentations/2020/03/InvestorDay2020.pdf
  75. Rui P, Kang K. National Hospital Ambulatory Medical Care Survey: 2017 emergency department summary tables. National Center for Health Statistics. Available from: https://www.cdc.gov/nchs/data/nhamcs/web_tables/2017_ed_web_tables-508.pdf.
  76. Health Care Cost Institute and hfma.org/topics/news/2019/02/63247.html
  77. \https://corporate.walmart.com/media-library/document/2020-investment-community-meeting-transcript/_ proxyDocument?id=00000170-5dc5-d590-ad71-7dcf3f370000
  78. https://corporate.walmart.com/newsroom/business/20161003/the-grocery-list-why-140-million-americans-choose-walmart
  79. https://www.sec.gov/Archives/edgar/data/104169/000010416916000079/wmtform10-kx1312016.htm
  80. https://investor.docusign.com/investors/home/default.aspx
  81. https://www.un.org/sustainabledevelopment/development-agenda/
  82. https://outreach.un.org/ngorelations/content/sdgs-report-2018