MetLife's Commitment to a Thriving Environment and a More Equitable Future: A Look at the 2023 Sustainability Report

MetLife, a leading global financial services provider, has released its 2023 Sustainability Report, showcasing its commitment to creating a more sustainable and equitable future. The report highlights the company's progress on its environmental stewardship, community engagement, and responsible investment strategies.

Environmental Stewardship: Protecting Nature and Biodiversity

MetLife recognizes the urgency of addressing climate change and its impact on communities and ecosystems. The company's environmental initiatives are focused on reducing its carbon footprint, conserving natural resources, and promoting biodiversity.

MetLife's commitment to reforestation is exemplified by its pledge to plant 5 million trees around the world. Through partnerships with various organizations, the company has already planted over 1.6 million trees since 2020. These efforts are crucial for mitigating climate change, enhancing biodiversity, and reforesting areas affected by deforestation.

Beyond tree planting, MetLife is actively engaged in protecting biodiversity through a partnership with the Australian Wildlife Conservancy (AWC). This collaboration supports AWC's reintroduction program, aiming to restore endangered species to their natural habitats. Additionally, MetLife promotes the health of pollinators through beehive programs at its offices in Cary, North Carolina, Tampa, Florida, and MetLife Stadium in East Rutherford, New Jersey. These initiatives serve as tangible examples of MetLife's dedication to environmental preservation.

Community Impact: Building a Culture of Volunteering

MetLife fosters a culture of year-round volunteering among its employees, with a focus on supporting underserved communities. In 2023, MetLife colleagues dedicated over 144,000 volunteer hours across 38 markets, engaging in over 43,000 acts of volunteering. This commitment aligns with MetLife's 2030 DEI Commitments, aiming to achieve 800,000 employee volunteer hours focused on disadvantaged communities.

The company offers employees in the U.S. and Asia one paid day off per year to volunteer, encouraging active participation in community initiatives. This practice reinforces MetLife's dedication to making a positive impact through employee volunteerism and community support.

Responsible Investments: Driving Social and Environmental Benefits

MetLife's responsible investment strategy aligns with its commitment to both financial return and positive societal impact. The company focuses on investments that create healthier communities and a more sustainable environment. These investments span core areas including infrastructure, green initiatives, municipal bonds, affordable housing, and impact investments.

Infrastructure Investments

MetLife invests in infrastructure projects that create jobs and economic benefits, such as building or upgrading airports, ports, roads, and power generation facilities. For instance, the company invested $44 million in a private infrastructure deal issued by Solek Chile, a leading developer of solar photovoltaic projects, to promote the development of greener and more distributed energy generation.

Green Investments

MetLife's green investments are directed toward companies and projects focused on conserving natural resources, promoting renewable energy, and implementing clean air and water projects. One example is Intersect, a “creative campus-style” office park in California, which features a 2.2 megawatt solar array and a 573 kilowatt-hour battery energy storage system, enabling 74% of its energy needs to be met by on-site production. MetLife also invests in the Commercial Property Assessed Clean Energy (C-PACE) sector, which finances energy-efficient and climate-resilient property improvements.

Municipal Bonds

MetLife's municipal bond investments support infrastructure, education, and community services across 450 communities in 44 states and Washington, D.C. These investments can be used to finance environmental, water, and clean energy projects, as well as projects with positive social outcomes, such as affordable public housing. In 2023, MetLife invested $27 million in Single Family Mortgage bonds issued by Colorado Housing and Finance Authority, which financed home loans for low- and moderate-income families and provided downpayment assistance.

Affordable Housing Investments

MetLife invests in high-quality housing projects that aim to build financial health and bring benefits to communities. These investments involve partnerships with nonprofit organizations that provide affordable rental homes to low-income earners.

Impact Investments

MetLife's Impact Investment program invests approximately $50 million annually, primarily in support of financial health and climate change priorities. These investments aim to mitigate and adapt to climate change, expand racial equity, support women's financial independence, and expand financial health services to underserved populations. MetLife has made impact investments in the Blackstar Stability Distressed Debt Fund and Impact Investment Exchange’s Women Livelihood Bond VI (WLB6), which focus on addressing housing affordability, advancing gender equality, and promoting climate action.

A Vision for a More Sustainable Future

MetLife's 2023 Sustainability Report underscores its commitment to environmental stewardship, community engagement, and responsible investments. These initiatives demonstrate the company's dedication to building a more confident future, not just for its customers but for the world at large. By embracing sustainable practices, supporting community development, and investing in a brighter future, MetLife is setting a powerful example for other businesses to follow. As a global leader in financial services, MetLife's actions have the potential to inspire change and accelerate progress towards a more sustainable and equitable world.