Racial Equity

2020 SUSTAINABILITY REPORT : Collapsed

RACIAL EQUITY

Cultivating an Inclusive Culture and Just Society

3 min read Jun 22, 2021

Racial Equity

This past year has brought increased attention to issues of social justice, diversity, equity, and inclusion, and the urgent need to build a more equitable society. As a purpose-driven company, we are galvanized not only to speak for but, more importantly, to act in support of a more inclusive workplace and just society.

We are committed to being a more inclusive company and to making a positive difference toward racial equity more broadly. We also recognize that despite having made strides, more must be done to uproot systemic injustice and ensure every member of our community feels equal and included.

MetLife President and CEO Michel Khalaf and ACLI President and CEO Susan Neely at a Women and Diversity event in February 2020.

New Global Diversity, Equity, and Inclusion Council

Led by MetLife President and CEO Michel Khalaf, our new Global Diversity, Equity, and Inclusion Leadership Council will drive and execute our DEI strategy across businesses, functions, and regions, provide strategic guidance and insight to improve performance, and visibly promote and champion DEI internally and externally.

Talent Representation

Accelerating Representation of Women of Color:
As a signatory of Catalyst CEO Champions for Change, we have committed to accelerate the representation of women, including women of color, in executive and senior-level positions.

Building a Talent Pipeline:
MetLife launched EXCELERATE, a new talent sponsorship program that pairs Executive Group members with mid-level Black/African American and Hispanic/Latino employees to accelerate their progression to officer-level roles.

To help with COVID-19 relief, MetLife Foundation provided a grant to Bedford Stuyvesant Restoration Corporation to help families and businesses with funds for expenses such as rent, healthcare, and childcare.

Impact Investments That Support Diverse Communities and Racial Equality

MetLife made $100 million1 in impact investments that supported diverse communities and racial equity, as part of a broader focus on improving financial health in low-income communities in the United States.

Pro Bono With the Equal Justice Initiative

MetLife’s Legal Affairs Diversity Committee collaborated with partner law firm Sidley Austin LLP on legal research and preparation support on two Equal Justice Initiative (EJI) capital cases where Sidley represented defendants who were wrongfully sentenced to death.

Financial coach at Bedford Stuyvesant Restoration Corporation, partner of MetLife Foundation.

Grants and Partnerships That Advance Racial Equity

Promoting Black/African American Educational and Career Opportunities: MetLife Foundation announced $5 million in new commitments to advance racial equity in the U.S. over three years, specifically to promote Black/African American educational and career opportunities, Black/African American business ownership, and racial justice initiatives, in addition to the $10 million in annual contributions the MetLife Foundation makes to support diverse communities and racial equity. This included:
  • Immediate support of $1 million to the United Negro College Fund (UNCF), a partner of MetLife and MetLife Foundation since 1945, to finance scholarships at Historically Black Colleges and Universities (HBCUs).
  • An additional $250,000 to the NAACP Legal Defense and Educational Fund, Inc. to support structural changes that expand democracy, eliminate disparities, and achieve racial justice.

Expanding the Sponsors for Educational Opportunity (SEO) program: Contributed $250,000 to nonprofit SEO to expand their SEO Scholars program into a hybrid model (online and in-person), allowing thousands of low-income youth, especially young people of color, to join as a result.

Want the full report?

Download for comprehensive insights and strategies.

1 As of December 31, 2020, at estimated fair value.