In its newly released annual Sustainability Report, MetLife highlights its commitment to originating $500 million in new impact investments by 2030. In addition to allocating 25% of this commitment to addressing climate change, MetLife will focus on promoting the financial health of underserved people, which includes advancing racial and gender equity in low-income and ethnically diverse communities.
The report highlights MetLife’s commitment to fostering a more diverse, equitable, and inclusive workplace and society. In 2020, MetLife was the first U.S.-based insurer to sign the UN Women’s Empowerment Principles, which have informed the company’s action plans to close gender gaps in the areas of leadership, workplace, marketplace, and community.
“As a global insurer and purpose-driven company, we strive to create a more confident and sustainable future for all of our stakeholders,” said MetLife President and CEO Michel Khalaf. “Building on our 153-year legacy of creating financial security, we are strengthening our commitments to the environment and climate, equity and inclusivity, health and well-being, and economic growth for disadvantaged communities.”
The report covers MetLife’s efforts to create positive change across the more than 40 markets where the company operates. Milestones from 2020 include:
- Through premium credits and contributions, MetLife and MetLife Foundation provided more than a quarter billion dollars of relief to help people around the world cope with the impacts of COVID-19.
- Globally, as of year-end 2020, women represented 52 percent of MetLife’s workforce, 33 percent of its Board of Directors, 30 percent of its Executive Group, and 42 percent of managers, and we have and estimated fair value of USD100 million in impact investments that support diverse communities and racial equity.
- MetLife and MetLife Investment Management sustained job growth, wealth creation, and financial stability by investing $659.6 billion in total assets under management for policyholders and clients.
- As part of 11 new environmental goals, MetLife committed to reducing location-based GHG emissions by an additional 30 percent from 2019 to 2030, and originating $20 billion of new green investments such as renewable energy, LEED-certified buildings, and green bonds by 2030. MetLife’s operations have been carbon neutral since 2016 and its green investments now exceed $28.7 billion and include energy-efficient real estate and renewable energy projects.
- MetLife launched a Sustainable Financing Framework to further align its investment and business priorities, and issued a $750 million green funding agreement, securing the U.S. insurance industry’s first green funding agreement-backed note.
“Asia, with its combination of fast-growing and developed markets, presents many exciting prospects for our industry. At MetLife, we believe this opportunity comes with a responsibility to find a sustainable path for growth: through our investments, our products, and participation in our communities, to ensure future generations can continue to prosper,” said MetLife Asia President, Kishore Ponnavolu.
To read the 2020 Sustainability Report and learn more about MetLife’s commitments, visit metlife.com/sustainability.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com
The forward-looking statements in this news release, such as “believe,” “committed to,” “commitment,” and “will,” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to correct or update any of these statements.