Supplier Management
Supplier Management
Our Supplier Code of Business Ethics expresses our desire to work with suppliers that model MetLife’s principles and standards. This includes our commitment to conduct business ethically and lawfully in markets where we operate across our supply chain, and we expect the same of our suppliers. We expect suppliers to comply with all applicable national, state and local employment, equal opportunity, labor, immigration and wage and hour laws, including those relating to humane treatment, child labor, minimum wage, overtime compensation, mandated benefits and safe work environments. We also expect suppliers to prioritize respect for basic human rights within organizations, including rights to health and safety, life and liberty and equality. We encourage suppliers to actively participate in the MetLife Supply Chain Sustainability program.
MetLife’s Global Procurement organization supports our Net Zero goal and interim commitments through supplier engagement and greenhouse gas emissions disclosure across the four major MetLife regions (U.S.; Europe, the Middle East and Africa; Asia; and Latin America). MetLife has set public supply chain climate goals for itself since 2015, including its latest supply chain interim target as part of its Net Zero commitment.
Third-Party Risk Management (TPRM)
MetLife’s TPRM program protects sensitive MetLife and customer information. We require third parties to comply with our TPRM program, including participating in a risk assessment prior to providing goods or services and in ongoing monitoring of our business relationship. Through our TPRM program, we evaluate the risk of third-party engagements and suppliers before assigning them a risk rating and managing them accordingly.
Fostering Supplier Diversity
As part of our 2030 DEI Commitments, MetLife has committed to spending $5 billion with diverse suppliers by 2030 and to annually report the economic impact of our diverse supply chain, which we do through our Economic Impact Report.
MetLife’s Supplier Inclusion and Development program, which is integrated within Global Procurement to help us interact with sourcing professionals and business stakeholders, supports the inclusion of diverse suppliers in our supply chain, as well as supporting and sponsoring their business development.2
We work with several external partners on supplier inclusion and development, including:
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