FOR IMMEDIATE RELEASE
Asset Management Firm Legg Mason Joins Ceres’ Network of Companies
Ceres is pleased to welcome Legg Mason Global Asset Management (Legg Mason) into its network of companies. Legg Mason is one of the largest asset management firms in the world, with $658 billon in assets under management as of May 31, 2010. By joining the Ceres company network, Legg Mason commits to long-term stakeholder engagement, public disclosure of its environmental and social impacts and strategies, and continuous sustainability performance improvement.
Legg Mason has several initiatives in place to address its sustainability plans, performance and disclosure, which are being driven by both its Corporate Citizenship and Corporate Real Estate areas as well as its multi-disciplinary Sustainability Council. The firm will release its second sustainability report this summer. In September 2009, the firm completed the relocation of its headquarters to a LEED certified building in downtown Baltimore, Maryland, USA, and has also integrated sustainable elements into many of it global locations. Legg Mason further engages its employees in its sustainability goals through community outreach, volunteerism, philanthropy and diversity and inclusion.
“Ceres looks forward to working with Legg Mason on its internal and external sustainability performance and impacts,” said Ceres President Mindy Lubber. “As one of the largest asset managers in the world, Legg Mason is uniquely positioned to help push sustainability solutions through the global economy. We are hopeful that a Ceres/Legg Mason partnership can ultimately help to integrate sustainability into asset management practices and investment strategies globally.”
Among other efforts, Ceres will support the creation of comprehensive sustainability policies and the formation of an in-depth stakeholder engagement team that will provide input on Legg Mason’s sustainability strategy and reporting.
“Legg Mason is committed to responsible corporate citizenship,” said Legg Mason Chairman and CEO Mark R. Fetting. “We look forward to collaborating with Ceres to achieve positive, long-term results. This is our commitment in action.”
Founded in 1989, Ceres is a leading network of investors, environmental groups and other public interest organizations working with companies to address sustainability challenges. Ceres also directs the Investor Network on Climate Risk (www.incr.com), comprised of over 90 institutional investors who collectively manage $10 trillion in assets.
About Legg Mason
Legg Mason is a global asset management firm with $658 billion in assets under management as of May 31, 2010. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, USA and its common stock is listed on the New York Stock Exchange (symbol: LM).