In 2020, MetLife became the first US insurer to sign the United Nations Women’s Empowerment Principles, which guide the company’s strategies to bridge gender gaps in leadership, workplace, market and community. At the end of 2020, women made up 52% of MetLife’s workforce, 33% of the board of directors, 30% of senior management and 42% of executives.
“As a global insurer and purpose-driven company, we strive to create a more confident and sustainable future for all of our stakeholders,” said Michel Khalaf, President and CEO of MetLife. “Building on our 153-year legacy of creating financial security, we are strengthening our commitment to the environment and climate, equity and inclusivity, health and well-being, and economic growth for disadvantaged communities.”
The report also highlights the company’s efforts to make positive change in the more than 40 markets in which it operates. The highlights from 2020 include:
- Through award credits and contributions, MetLife and the MetLife Foundation have provided more than $ 250 million in relief to help mitigate the effects of COVID-19.
- MetLife and MetLife Investment Management invested more than $ 659.6 billion in total assets under management by policyholders and customers.
- The MetLife Foundation has allocated an additional US $ 5 million over three years to promote black educational and career opportunities, black ownership and racial justice initiatives, and the existing US $ 10 million in annual grants to support the Racial justice and diverse communities added.
- The company also launched EXCELERATE, a talent stewardship program that aims to promote middle-level black and Latino employees to executive positions.
- As part of 11 new environmental goals, the company has committed to reducing site-based greenhouse gas emissions by an additional 30% between 2019 and 2030 and making new green investments totaling $ 20 billion by 2030.
- MetLife’s operations have been carbon neutral since 2016 and its green investments currently exceed $ 28.7 billion.
- The company has put in place a sustainable funding framework to further align its investment and business priorities and has issued a $ 750 million green funding agreement that secured the US insurance sector’s first green funding agreement-backed note.
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“We believe sustainability must be a core part of our business strategy and a guiding force behind every aspect of our business,” said Jon Richter, chief sustainability officer at MetLife. “The full scope of our people, products and services, investments and community efforts help us be a force for good in the world.”