"I do support [Time’s Up],” he explained. “I was so excited to win, but being in the room that night was incredible. It was powerful and there were incredible voices, and I support it. I support change."
Franco also commented on tweets that were written about him during the awards show, including Ally Sheedy's vague, since-deleted tweets that lashed out against the actor, as well as Seth Meyers being chosen as the night's host.
Sheedy's first tweet read, "Why is a man hosting? Why is James Franco allowed in? Said too much. Nite love ya #goldenglobes," with two more following an hour later saying, "OK wait. Bye. Christian Slater and James Franco at a table on @goldenglobes #MeToo... James Franco just won. Please never ever ask me why I left the film/tv business."
The Why Him? star told Colbert that he was aware of what the actress -- whom he directed in the off-Broadway production of The Long Shrift in 2014 -- had written, though he noted he had heard about them second-hand but not read them himself.
“I have no idea what I did to Ally Sheedy... I had nothing but a great time with her [and have] total respect for her," he admitted to Colbert, noting that he couldn't speak for his former co-worker.
Additionally, two more accusers -- actresses Violet Paley and Sarah Tither-Kaplan -- tweeted details of their experiences with Franco's alleged inappropriate behavior as the ceremony took place.
"In my life, I pride myself on taking responsibility for things that I've done. I have to do that to maintain my well-being," Franco told Colbert. "I do it whenever I know that there's something wrong or needs to be changed. I make it a point to do it."
"The things that I heard were on Twitter are not accurate, but I completely support people coming out and being able to have a voice, because they didn't have a voice for so long," he added. "So I don't want to shut them down in any way. I think it's a good thing and I support it."
Colbert also asked if it was possible to have discussions off of social media and how people could come to the truth in order to have a "reconciliation between people who clearly have different views of things." Though Franco did not deny or confirm any allegations, he did offer a sort of apology.
"I can't live if there's restitution to be made. I will make it. So, if I've done something wrong, I will fix it. I have to," Franco offered. "That's how that works. I don't know what else to do,"
"I really don't have the answers and I think the point of this whole thing is that we listen," he continued, circling back to Time's Up. "There were incredible people talking that night. They had a lot to say, and I'm here to listen and learn and change my perspective where it's off, and I'm completely willing and I want to."
On the same day as his late-night interview, Franco made an appearance at the National Board of Review Annual Awards Gala in New York City -- alongside his brother, Dave Franco, who also starred in The Disaster Artist -- where he presented the film's adapted screenplay award.
There was more bad news to be had, however. On Tuesday, The New York Times announced that they were canceling Franco's TimesTalk about his award-winning film, which had been scheduled for Jan. 10.
"The event was intended to be a discussion of the making of the film, The Disaster Artist. Given the controversy surrounding recent allegations, we're no longer comfortable proceeding in that vein," a Times representative told ET in a statement.