Sustainability at MetLife means living our purpose—Always with you, building a more confident future—for the long term. We are adapting to meet the needs of a rapidly changing world, strengthening our commitment to address critical challenges such as climate change, gender and racial inequity, and disadvantaged communities.
Sustainability is central to our business strategy and directs every aspect of our operations. With the UN SDGs as our guide, we are deploying the full strength of our people, products, services and investments to be a greater force for good in the world. It’s what inspired us in the past, fuels our strategy today and will set us apart in the future.
Monitoring and managing environmental, social and governance (ESG) issues, including those involving DEI, is fully integrated into all parts of MetLife’s operations and management. Recognizing the increased importance of ESG matters to both MetLife’s business and stakeholders, MetLife's Board of Directors (Board) in 2021 enhanced its framework for oversight of ESG strategy and execution to ensure that MetLife’s sustainability efforts are coordinated across all parts of the enterprise.
The Board oversees the assessment and management of various ESG matters, including ESG risks, risks associated with the enterprise investment portfolio and policies concerning climate change. MetLife’s management provides regular updates to the full Board and its committees on various ESG matters, including DEI, climate action, philanthropy, responsible investments and regular updates on cybersecurity and privacy. The oversight of certain ESG matters falls within the responsibilities of various Board committees. ESG performance is reflected in aspects of executive officer performance assessments, which impacts their total compensation.
In addition to oversight by the Board and its committees, MetLife has a robust management-level risk oversight structure. MetLife’s leaders prioritize sustainability, and it is part of their annual performance objectives through a shared sustainability goal for MetLife’s executive leadership team. In addition, all employees are responsible for living MetLife’s purpose and driving progress toward MetLife’s sustainability commitments. MetLife’s risk and control framework operates under a ‘‘Three Lines of Defense’’ model where each employee is responsible for risk management. ESG risks, including climate risks, are within the purview of multiple senior management committees, as they underpin all aspects of risk management at MetLife.