Over the next 10 years, MetLife has committed to reduce its location-based greenhouse gas (GHG) emissions by 30% from 2019 levels, originate $20 billion in new MetLife Investment Management (MIM) — managed green investments, and allocate $5 million to develop products and partnerships that drive climate solutions.
MetLife also committed to plant 5 million trees (prioritizing areas vulnerable to natural disasters) and to maintain carbon neutrality annually across its global offices, fleet, and business travel. MetLife Foundation committed to grant $10 million for environmental causes. In addition, MetLife pledged to mobilize 100 of its suppliers to set their own GHG emissions reduction target by 2025.
In 2020, MetLife Global Funding I issued a $750 million green bond, the industry’s first note secured by a green funding agreement. And through its membership in the Carbon Disclosure Project (CDP) Supply Chain Program, MetLife encourages its business partners to take action on climate change. In 2019, more than 100 of its suppliers disclosed their GHG emissions and mitigation activities.
MetLife has long been a proponent of sustainability. For example, in 2016, it was the first US-based insurance company to achieve carbon neutrality, a status it has maintained for four straight years. And just this year, the company became the first US-based life insurer to join the United Nations Global Compact, the world’s largest corporate sustainability initiative. The UN Global Compact 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.