Franklin Templeton Office Furniture Finds Second Life at Community Organizations

Rhea-AI Summary

Franklin Templeton has successfully diverted 100% of its no-longer-needed office furniture from landfills during recent office upgrades in San Mateo, Rancho Cordova, and Stamford. This initiative was made possible through a partnership with Green Standards, a non-profit focused on furniture reuse. The company's approach involved repurposing, recycling, and reselling furniture items.

Key highlights:

• 100% of unused furniture was diverted from landfills
• Metal furniture is recycled into new materials
• Wood furniture is recycled for agricultural use or alternative city ground cover
• In Stamford, 86% of furniture was reused or recycled, 12% resold, and 2% donated

This effort aligns with Franklin Templeton's commitment to sustainability and reducing its environmental footprint. The company plans to continue these practices in future global projects.

100% Saved from Landfills

NORTHAMPTON, MA / ACCESSWIRE / July 29, 2024 / Have you ever wondered what happened to your old office chair?

With the recently completed upgrades of offices in San Mateo, CA, Rancho Cordova, CA and Stamford, CT, 100% of the company's no-longer-needed office furniture was diverted from the landfill, thanks to a partnership between Franklin Templeton's Corporate Real Estate group and Green Standards, a non-profit focused on furniture reuse.

"We focused on repurposing as much unused furniture as possible, and we were fortunate to find organizations that had a use for our donations," said Joseph Killian, Director, Real Estate and Facilities at Franklin Templeton.

The company committed to recycling 100% of the furniture that would have otherwise ended up in the landfill. This primarily involved reuse and recycling, as well as resale. Franklin Templeton views sustainability as its responsibility and prioritizes finding second lives for items or ensuring environmentally conscious disposal of unused assets.

According to 2018 estimates from the US Environmental Protection Agency, up to 8.5 million tons, or 17 billion pounds, of office assets end up in US landfills annually. The partnership with Green Standards, whose mission is to reuse, recycle and donate used furniture, has helped Franklin Templeton to reduce its environmental footprint and make positive impacts on communities.

As part of the California and Connecticut projects, Green Standards removed furniture from the firm's campuses, diverting 100% of it from landfill. After removal, for the furniture that could not be repurposed was sorted by material. Metal is recycled to create new materials. Wood is recycled to produce animal bedding for agricultural use ground into smaller pieces for alternative city ground cover or incorporated into new wood products.

"It has been rewarding working on the Stamford 100 project. We reused or recycled 86% of the furniture for the refresh project, resold 12% and donated 2%. I am very proud of the initiative," said Jocelyn Rose, Facility Manager for Franklin Templeton in Stamford, CA.

These efforts will continue with current and future projects around the globe.

Important Information

This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. It does not constitute legal or tax advice. The views expressed are those of the investment manager and the comments, opinions and analyses are rendered as at publication date and may change without notice. Franklin Templeton has certain environmental, social and governance (ESG) goals or capabilities; however, not all strategies are managed to "ESG" oriented objectives. Integrating ESG considerations into the investment process is not a guarantee that better performance will be achieved. All investments involve risks, including possible loss of principal. Data from third party sources may have been used in the preparation of this material and Franklin Templeton has not independently verified, validated or audited such data. Franklin Templeton accepts no liability whatsoever for any loss arising from use of this information and reliance upon the comments, opinions and analyses in the material is at the sole discretion of the user.

View additional multimedia and more ESG storytelling from Franklin Templeton on 3blmedia.com.

Contact Info:
Spokesperson: Franklin Templeton
Website: https://www.3blmedia.com/profiles/franklin-templeton
Email: info@3blmedia.com

SOURCE: Franklin Templeton

View the original press release on accesswire.com

FAQ

How did Franklin Templeton (BEN) handle unused office furniture in its recent office upgrades?

Franklin Templeton diverted 100% of its unused office furniture from landfills during recent office upgrades in San Mateo, Rancho Cordova, and Stamford. The company partnered with Green Standards to repurpose, recycle, and resell furniture items.

What percentage of Franklin Templeton's (BEN) office furniture was saved from landfills in 2024?

100% of Franklin Templeton's no-longer-needed office furniture was saved from landfills during their office upgrades in 2024.

How did Franklin Templeton (BEN) recycle wood furniture from its offices?

Franklin Templeton recycled wood furniture by grinding it into smaller pieces for use as animal bedding in agriculture, alternative city ground cover, or incorporation into new wood products.

What were the recycling statistics for Franklin Templeton's (BEN) Stamford office project?

For the Stamford office project, Franklin Templeton reused or recycled 86% of the furniture, resold 12%, and donated 2%.

Who did Franklin Templeton (BEN) partner with for their office furniture recycling initiative?

Franklin Templeton partnered with Green Standards, a non-profit organization focused on furniture reuse, for their office furniture recycling initiative.