Aligning Our Impact With the Sustainable Development Goals

2020 SUSTAINABILITY REPORT : Collapsed

SUSTAINABILITY SINCE 1868

Aligning Our Impact With the Sustainable Development Goals

2 min read Jun 22, 2021

As we continue to integrate sustainability across MetLife, our priorities remain clear: to fulfill our purpose, we must take tangible actions now in order to deliver on our promises in the long-term. In 2020, we made great strides across our priorities, including launching our 2030 environmental goals; elevating our longstanding commitment to racial equity and inclusion with new goals and initiatives; developing new, targeted products; leveraging our investment capabilities to drive solutions in communities and for the environment; expanding financial health globally with MetLife Foundation; and supporting our workforce by implementing flexible work options, enhanced benefits, and mental health programs.

In 2020, we also became the first U.S.-based insurer to join the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative, which calls for companies to align their operations and strategies with 10 universal principles in the areas of human rights, labor, the environment, and anti-corruption. Moving forward, we will partner with the UNGC to not only elevate our efforts but also use the principles as important guides to prioritize and focus our work.

Working Toward Achieving the Sustainable Development Goals

The United Nations Sustainable Development Goals (UN SDGs) provide a shared blueprint for achieving peace and prosperity for people and the planet, now and into the future. Our sustainability strategy is closely aligned with the UN SDGs to contribute toward meaningful change around the world. While we support all 17 UN SDGs, we have prioritized five goals in particular, given their relevance to our business.

Click on a goal TO LEARN MORE

  • Enhanced benefits to support employees during the pandemic, including free diagnostic testing and cash protection for MetLife employees hospitalized through Q1 2021.
  • Developed new support service for employers in the U.K. to help with home working and staff well-being in June 2020.
  • Donated healthcare-related materials to hospitals and communities.
  • Committed $25 million through MetLife Foundation to assist in COVID-19 relief and recovery.
  • Developed a comprehensive BeWell platform for employees globally to focus on financial, social, physical and mental health.
  • Became the first U.S.-based insurer to sign the United Nations Women’s Empowerment Principles (WEPs).
  • Worked with external initiatives such as the U.N. Women Global Innovation Coalition for Change, Catalyst’s Gender and Diversity KPI Alliance, CEO Champions for Change, and CEO Action for Diversity and Inclusion.
  • MetLife Foundation empowers women and girls with STEM education and financial empowerment through partnerships with Girls Who Code (U.S.), Laboratoria (Chile and Mexico), and Trickle Up (Bangladesh, Mexico, and Vietnam).
  • As of December 31, 2020, women represented 52% of the Company’s workforce and 42% of managers.
  • Launched a partnership between MIM and Girls Who Invest (GWI) to increase the number of women in portfolio management and executive leadership in asset management.
  • MIM-managed responsible investments including green investments, infrastructure, municipal bonds, affordable housing, and impact investments total over $74 billion.
  • Engaged with approximately 400 Diverse Business Partners annually, achieving over $3.4 billion in spend since inception of our Supplier Inclusion and Development Program.
  • Launched a mandatory inclusion education course for all employees.
  • Paid out approximately $30 billion in claims and benefits to customers.
  • Through scholarships and training programs, MetLife Foundation partners like Generation (India), Pursuit (U.S.), and Laboratoria (Chile) help young people grow their skills and gain family-sustaining employment, building careers and financial health.
  • Committed an additional $5 million through MetLife Foundation to advance racial equity in the U.S. over the next three years, in addition to the existing grant funding focused on communities of color.
  • Launched EXCELERATE, a talent stewardship program to accelerate the progression of mid-level Black and Latino employees to officer-level roles.
  • Endorsed the COVID-19 5-Point Action Agenda, a commitment to promote inclusion and denounce bias against diverse communities.
  • MetLife Foundation partnered with Inclusive Fintech 50 to identify high-potential startups providing innovative health solutions to populations hard hit by the pandemic.
  • Promoted 22% of participants in MetLife’s leadership development program for women at the assistant vice president level within two years.
  • Established 11 new 2030 Environmental Goals, including commitments to plant 5 million trees by 2030 and originate $20 billion of new MIM-managed green investments by 2030.
  • Integrated climate risk into MetLife’s risk management framework.
  • Enhanced MIM’s global environmental policy which includes Board-level oversight.
  • MetLife issued the U.S. insurance industry’s first “green” funding agreement-backed note—a $750 million issuance.
  • MIM Agricultural Finance Group debt portfolio encompasses more than 10 million acres of certified sustainable timberlands as security1.
  • Achieved Carbon Neutrality for the fifth consecutive year.
  1. Measured as of December 31, 2020, using collateral securing loans in the MIM Agricultural Finance’s Timberland and Forest Products portfolio. The collateral had one or more of the following certifications at origination: American Tree Farm System (ATFS), Forestry Stewardship Council (FSC), Programme for the Endorsement of Forest (PEFC), and Sustainable Forestry Initiative (SFI).

Learn more about our commitments

Want the full report?

Download for comprehensive insights and strategies.