MetLife Invests $36B in Impact-Related Projects to Push Sustainability
(3BL Media/Justmeans) – Several global companies now pursue sustainability goals such as building stable markets, protecting the environment and improving social inclusion. Some of these companies are leading from the front by ensuring that their business strategy is aligned with universal values in order to create a positive environmental and social impact.
MetLife is working to make a positive impact by skillfully managing ESG issues, as highlighted in its newly-released annual corporate responsibility report, Global Impact. The report focuses on MetLife’s leadership on social impact investing as well as its accomplishments in the areas of workplace diversity and financial inclusion.
Investing in Communities
MetLife invested $26.2 billion in impact-related infrastructure, including $16 billion in municipal bonds that help support affordable housing, education and health needs; $9.3 billion to provide essential services such as airports, roads and ports; and $900 million in renewable energy infrastructure.
The company has additionally made green investments to the tune of $9.7 billion, which include ownership stakes in 37 wind and solar farms, 56 LEED-certified properties and $2.6 billion in renewable energy projects. It has also made investments of $1.8 billion to directly support community needs and housing for low-income families.
MetLife was recognized by Deloitte and the Alliance for Board Diversity for having one of the most diverse boards of any company in the Fortune 500. As of December 31, 2016, 31 percent of its Board members were women, and 23 percent were ethnically or racially diverse. The company was named to the first-ever Bloomberg Financial Services GenderEquality Index, reflecting its commitment to gender equality across operations.
MetLife and MetLife Foundation made $48 million in grants, including $30 million for financial inclusion efforts that help low-income individuals and families get access to safe and affordable financial products and services. MetLife employees volunteered more than 90,000 hours around the world, up by more than 25 percent from last year.
MetLife became the first U.S-based insurer to achieve carbon neutrality. It was recognized with a Climate Leadership Award from the U.S. EPA for its ambitious GHG emission reduction goals. It received grade of “A-” from CDP for reporting and management of climate issues. The company also mobilized 8,000 employees through Our Green Impact, MetLife’s employee engagement program to address environmental issues.
Mike Zarcone, MetLife executive vice president and head of Corporate Affairs, said that for nearly 150 years MetLife has managed its business with a commitment to being a responsible corporate citizen.