MetLife, Inc.
Climate Impact & Sustainability Data (2017, 2018, 2019, 2020, 2021, 2022, 2023)
Reporting Period: 2017
Environmental Metrics
ESG Focus Areas
- Responsible Investing
- Ethics and Integrity
- Customer Experience
- Employee Well-being
- Supplier Inclusion
- Environmental Sustainability
- Financial Inclusion
Environmental Achievements
- Achieved carbon neutrality for the second year in a row.
- Implemented 60 energy efficiency projects in 17 countries.
Social Achievements
- Designed offices with best-in-class employee wellness standards.
- Provided Wellness for Life program access to employees in over 30 countries.
- Simplified the performance assessment process.
- Conducted business with 600 diverse business partners, representing 11.1% of MetLife’s total supplier spend.
- MetLife Foundation contributed $45 million to improve financial inclusion and build stronger communities.
Governance Achievements
- Elevated the Chief Risk Officer role to MetLife’s Executive Group.
- Undertook a global employee communications effort to further ingrain the importance of ethics and integrity into the culture.
- Required five training courses on topics such as anti-money laundering, mobile security, and social media security.
Climate Goals & Targets
- By 2020, reduce energy consumption by 10% (from 2012 baseline)
- By 2020, reduce location-based carbon emissions by 10% (from 2012 baseline)
- By 2020, require 100 of MetLife’s top suppliers to disclose their GHG emissions
Environmental Challenges
- Climate change risks (extreme weather, energy supply disruptions, carbon legislation)
- Maintaining ethical culture and strong security practices
Mitigation Strategies
- Monitored and managed climate-related risks through global risk management framework.
- Implemented employee training courses to protect MetLife’s integrity and reputation.
- Updated the Code of Conduct with practical guidance and launched Code of Conduct training for all employees.
Supply Chain Management
Responsible Procurement
- Supplier Inclusion and Development program
- Rule of One (at least one diverse supplier in every RFP)
Climate-Related Risks & Opportunities
Physical Risks
- Impacts from extreme weather events
Transition Risks
- Disruptions in energy supply
- Carbon legislation
Reporting Standards
Frameworks Used: GRI
Third-party Assurance: Quantis (for greenhouse gas emissions)
UN Sustainable Development Goals
- Goal 1 (No Poverty)
- Goal 3 (Good Health and Well-being)
- Goal 5 (Gender Equality)
- Goal 7 (Affordable and Clean Energy)
- Goal 8 (Decent Work and Economic Growth)
- Goal 9 (Industry, Innovation and Infrastructure)
- Goal 10 (Reduced Inequalities)
- Goal 11 (Sustainable Cities and Communities)
- Goal 12 (Responsible Consumption and Production)
- Goal 13 (Climate Action)
- Goal 16 (Peace, Justice and Strong Institutions)
MetLife contributes to the SDGs through business operations and global initiatives.
Awards & Recognition
- J.D. Power award for customer service
- Expatriate Management and Mobility Award for Employee Benefits Service Provider of the Year
- America’s Top Corporations for Women’s Business Enterprises
Reporting Period: 2018
Environmental Metrics
ESG Focus Areas
- Responsible Investments
- Risk Management and Ethics
- Customer Experience
- Employee Well-being
- Environmental Stewardship
- Financial Health
Environmental Achievements
- Maintained carbon neutral status
- Reduced U.S. energy consumption by more than 30 percent since 2007
- Reduced global energy use by 22 percent since 2012
- Achieved LEED Platinum certification for global headquarters in New York City and Investments headquarters in New Jersey, and LEED Gold in Tokyo.
- Joined the Climate Leadership Council as a founding member
Social Achievements
- Paid approximately $48 billion in claims and benefits to policyholders
- Committed nearly $4 billion to Responsible Investments in the United States and more than $3 billion in other countries
- MetLife Foundation fulfilled its five-year commitment to provide $200 million in grants to improve financial inclusion worldwide
- Launched 360Health, providing customers with end-to-end health solutions
- Launched PlanSmart Financial Wellness program
- Increased minimum wage, established minimum life insurance benefit, and set minimum contribution to company pension plan for U.S. employees
- Announced a $10 million Workforce of the Future Development Fund
- MetLife employees volunteered more than 99,000 hours
Governance Achievements
- Announced separation of CEO and Chairman roles
- Enhanced focus on operational risk by expanding the Enterprise Risk Committee
- Updated enterprise risk appetite statements
- Trained senior leaders and piloted a course for new employees on managing risk
Climate Goals & Targets
- By 2020, reduce global energy consumption by 10 percent (from a 2012 baseline)
- By 2020, reduce location-based carbon emissions by 10 percent (from a 2012 baseline)
- By 2020, require 100 of our top suppliers to disclose their greenhouse gas (GHG) emissions and reduction activities
- Support a culture of MetLife volunteerism with a 150,000-hour commitment to MetLife communities over three years (through 2020)
- Achieve 10 percent growth with diverse suppliers year-over-year through 2020
- Implement a diverse supplier mentorship program to achieve 15 percent program growth by 2020
Environmental Challenges
- Climate change related disruptions to operations and supply chain
- Rising cybersecurity risks
- Evolving privacy regulations
Mitigation Strategies
- Risk management programs embedded in all business and strategic decision-making
- Strengthened key risk committees
- Investment in employee training programs on ethical business practices and security
- Global Privacy Policy with strict controls over personal information
- Collaboration with information technology risk and security program
Supply Chain Management
Supplier Audits: 96 suppliers engaged in the CDP Supply Chain Program
Responsible Procurement
- Supply Chain Sustainability Program
- Sustainability criteria embedded in procurement process
- Encouragement of continuous supplier improvement
- Incentivization of environmental stewardship
Climate-Related Risks & Opportunities
Physical Risks
- Natural disasters
Transition Risks
- Regulatory changes
Opportunities
- Investments in renewable energy
Reporting Standards
Frameworks Used: GRI
UN Sustainable Development Goals
- Goal 1
- Goal 3
- Goal 5
- Goal 7
- Goal 8
- Goal 9
- Goal 10
- Goal 11
- Goal 12
- Goal 13
- Goal 16
MetLife contributes to the SDGs through its business operations and global initiatives.
Sustainable Products & Innovation
- 360Health
- PlanSmart Financial Wellness
Awards & Recognition
- Dow Jones Sustainability Index (North America)
- America’s 100 Most JUST Companies
- Top 100 Innovators in Diversity & Inclusion
Reporting Period: 2019
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced Scope 1 emissions from 19,780 metric tons CO2e in 2015 to 13,613 metric tons CO2e in 2019
- Increased renewable energy certificates from 101,648 in 2015 to 164,048 in 2019
- Increased waste diversion (recycled) from 60% in 2015 to 56% in 2019
Social Achievements
- Launched employee satisfaction surveys with 82% participation in 2019 and 75% satisfaction rate
- Provided 8 weeks of fully paid parental leave for primary caregivers and 2 weeks for secondary caregivers
- Diverse supplier spend of $270,063,739 in 2019
Governance Achievements
- 98% of employees received training on the Code of Business Ethics in 2019
- 100% of suppliers covered by a supply chain code of conduct in 2019
Climate Goals & Targets
- Not disclosed
- Not disclosed
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: 100%
Responsible Procurement
- Supplier Code of Business Ethics
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Greenhouse Gas Protocol Corporate Accounting and Reporting Standard
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Climate Change
- Diversity, Equity, and Inclusion
- Financial Health
- Community Development
- Environmental Stewardship
Environmental Achievements
- Achieved carbon neutrality for five consecutive years across global corporate office portfolio, vehicle fleet, and employee business travel.
- Launched 11 new 2030 Environmental Goals, including planting 5 million trees and originating $20 billion in new MIM-managed green investments.
- Reduced energy consumption by 18% in 2020 due to work-from-home shift.
- Replaced plastic water bottles in all U.S. offices.
Social Achievements
- Launched Global Diversity, Equity, and Inclusion Leadership Council.
- Launched EXCELERATE talent sponsorship program.
- MetLife Foundation committed $5 million over three years to advance racial equity in the U.S.
- Provided over $250 million in COVID-19 relief to customers and communities.
- Expanded mental health counseling and launched BeWell platform for employees.
- 60,000 employee volunteer hours globally.
Governance Achievements
- Became the first U.S.-based insurer to join the UN Global Compact.
- Created a Supplier Code of Business Ethics.
- Integrated climate risk into MetLife’s risk management framework.
Climate Goals & Targets
- Maintain carbon neutrality annually for global offices, fleet, and business travel
- Achieve green or healthy building certification for 40% of global office portfolio by 2030
- Reduce location-based GHG emissions by 30% from 2019 to 2030
- Originate $20 billion of new MIM-managed green investments by 2030
- Originate $500 million of new MetLife impact investments by 2030 (25% allocated to climate change)
- Reduce water consumption by 10% by 2025
- Reduce energy consumption and greenhouse gas emissions by 20%, improve waste diversion by 10% by 2025
Environmental Challenges
- COVID-19 pandemic and its impact on operations, workforce, and customers.
- Racial inequality and the need for greater racial equity.
- Climate change risks across operations, investments, and supply chain.
Mitigation Strategies
- Developed new ways to serve and support customers virtually.
- Adjusted sick leave and vacation policies, expanded mental health resources, and launched BeWell platform.
- Launched new DEI initiatives, including mandatory training and the Global DEI Leadership Council.
- Launched 2030 Environmental Goals and integrated climate risk into risk management framework.
- Made $100 million in impact investments supporting diverse communities and racial equity.
- MetLife Foundation committed $25 million to COVID-19 relief and recovery.
Supply Chain Management
Supplier Audits: 91% response rate to CDP’s Supply Chain Program
Responsible Procurement
- Supplier Inclusion & Development program
- Supplier Code of Business Ethics
- ESG criteria embedded in procurement process
Climate-Related Risks & Opportunities
Physical Risks
- Weather-related natural catastrophes
Transition Risks
- Regulatory changes
- Market shifts
Opportunities
- Development of energy-efficient products and services
- Investment in renewable energy projects
Reporting Standards
Frameworks Used: GRI, SASB, TCFD, UNGC
Certifications: LEED, ENERGY STAR, Fitwel
UN Sustainable Development Goals
- Goal 3: Good Health and Well-being
- Goal 4: Quality Education
- Goal 7: Affordable and Clean Energy
- Goal 8: Decent Work and Economic Growth
- Goal 11: Sustainable Cities and Communities
- Goal 12: Responsible Consumption and Production
- Goal 13: Climate Action
- Goal 15: Life on Land
MetLife leverages its products, services, workforce, investments, and community engagement to contribute to these goals (see pages 120-123).
Sustainable Products & Innovation
- Green bonds
- Energy-efficient real estate investments
- Renewable energy projects
Awards & Recognition
- ENERGY STAR Partner of the Year
- CDP Supplier Engagement Leader Board
- Global Real Estate Sustainability Benchmark 5-star ratings
- Numerous other awards and recognitions (see page 164)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Climate Change
- Diversity, Equity and Inclusion (DEI)
- Financial Health
- Community Development
- Responsible Investing
Environmental Achievements
- Reduced GHG emissions by 21% between 2020 and 2021
- Maintained carbon neutrality for the sixth consecutive year
- Originated $6.1 billion in new MIM-managed green investments
- Planted more than 200,000 trees worldwide
Social Achievements
- Achieved top-quartile performance for DEI across diverse categories in the U.S. and for female officers globally
- Launched Upwise™, a free mobile app for financial wellness
- Expanded 360Health solutions to Bangladesh
- Expanded BeWell program for employee well-being
- Completed MetLife Foundation's three-year, $5 million commitment to racial equity
Governance Achievements
- Enhanced Board framework for oversight of ESG strategy and execution
- ESG performance reflected in executive officer performance assessments
- 98% of employees completed Code of Business Ethics training
- Joined WEConnect International to support women-owned businesses
Climate Goals & Targets
- Achieve net zero GHG emissions for global operations and general account investment portfolio by 2050 or sooner
- Originate $20 billion in new MIM-managed green investments by 2030
- Originate $500 million in new MetLife impact investments by 2030
- Reduce location-based GHG emissions by 30% from 2019 to 2030
- Achieve green or healthy building certification for 40% of global office portfolio
Environmental Challenges
- Climate change impacts on business operations, investments, customers, and supply chain
- Financial inequities within underserved populations
- Maintaining top-quartile performance in DEI
Mitigation Strategies
- Integrated climate risks into investment underwriting standards
- Developed inclusive solutions for underserved communities (Upwise™, PlanSmart™)
- Established a comprehensive suite of public-facing DEI goals for 2030
- Global DEI governance structure for accountability and transparency
Supply Chain Management
Supplier Audits: 123 suppliers engaged in disclosing climate risks (94% response rate)
Responsible Procurement
- Supplier Code of Business Ethics
- Sustainability criteria in procurement process
- Prioritizing lower-impact products
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes
- Market shifts
Opportunities
- Development of energy-efficient products and services
- Green investments
Reporting Standards
Frameworks Used: GRI, SASB, TCFD, UNGC
Certifications: ISO 14064-3 (GHG emissions)
Third-party Assurance: QuantiS
UN Sustainable Development Goals
- Goal 3: Good Health and Well-being
- Goal 5: Gender Equality
- Goal 8: Decent Work and Economic Growth
- Goal 10: Reduced Inequalities
- Goal 13: Climate Action
MetLife's initiatives contribute to these goals through products, services, investments, workforce practices, and community engagement.
Sustainable Products & Innovation
- Upwise™
- 360Health
Awards & Recognition
- Dow Jones Sustainability Index
- Energy Star Partner of the Year
- Bloomberg Gender-Equality Index
- HACR Award for Corporate Inclusion
- J.D. Power Award for Customer Service
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Responsible Investments
- Workforce Diversity
- Environmental Sustainability
- Community Engagement
- Supply Chain Management
- Risk Management
Environmental Achievements
- Reduced total energy consumption from 301,374 MWh in 2018 to 174,132 MWh in 2022.
- Increased waste recycling from 57% in 2019 to 54% in 2022.
- 10 LEED certified buildings and 3 Fitwel certified buildings.
Social Achievements
- Global female management increased to 42.3% in 2022 from 41.2% in 2021.
- U.S. ethnically and racially diverse management increased to 26.6% in 2022 from 25.2% in 2021.
- 85% employee participation in the annual MyVoice survey, with 78% indicating a favorable response to job satisfaction.
- Provided 8 weeks of fully paid parental leave for primary caregivers and 2 weeks for secondary caregivers.
Governance Achievements
- 98% of employees participated in Code of Business Ethics training.
- 100% of suppliers covered by a Supply Chain Code of Conduct.
Climate Goals & Targets
- Not disclosed
- Not disclosed
- Not disclosed
Environmental Challenges
- Data incidents concerning unauthorized access, loss, disclosure, or misdirection of personal information.
- Reducing carbon emissions and improving energy efficiency.
Mitigation Strategies
- Incident response team to minimize impact of data incidents and investigate root causes.
- Increased use of renewable energy certificates and energy efficiency measures.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Supply Chain Code of Conduct
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: ISO 14064-3 (GHG emissions verification)
Third-party Assurance: Quantis
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Economic performance
- Employment
- Indirect economic impacts
- Training and education
- Anti-corruption
- Diversity and equal opportunity
- Anti-competitive behavior
- Non-discrimination
- Energy
- Public policy
- Emissions
- Marketing and labeling
- Waste
- Customer privacy
- Supplier environmental assessment
- Financial wellness
- Health and well-being
- Climate change
Environmental Achievements
- Achieved carbon neutrality in 2023 for the eighth consecutive year for global owned and leased offices, global vehicle fleets (Scope 1 and 2 emissions), and employee business travel (Scope 3 Category 6).
- Reduced emissions by 44% across our offices and business travel between 2019 and 2023.
- Planted more than 1.6 million trees around the world since 2020.
- Achieved green and healthy buildings at 48% of our global offices by square footage.
Social Achievements
- Expanded MetLife 360Health to Nepal and the UAE.
- Expanded 360Future in Asia, helping customers in China and Korea prepare for retirement.
- Helped colleagues realize the value of employee benefits programs through the BeWell platform.
- MetLife Foundation partner, Planet Water Foundation, provided access to clean water in Mexico.
Governance Achievements
- Achieved above-median results on officer gender diversity globally and top-quartile results on ethnic and racial diversity for officers (U.S. only).
- Achieved 36% representation of women on MetLife’s Board of Directors as of December 31, 2023.
- Spent approximately $3.9 billion since the inception of our Supplier Inclusion and Development Program in 2003.
Climate Goals & Targets
- Net Zero greenhouse gas (GHG) emissions for our operations and General Account (GA) investment portfolio by 2050 or sooner.
- Not disclosed
- Not disclosed
Environmental Challenges
- Data limitations in tracking certain ESG metrics across the global enterprise.
- Challenges in obtaining complete and reliable data for financed emissions calculations.
Mitigation Strategies
- Commitment to improving data collection, calculations, and management over time.
- Utilizing estimations based on industry averages where data is incomplete.
Supply Chain Management
Supplier Audits: 100% of suppliers covered by a Supply Chain Code of Conduct
Responsible Procurement
- Supplier Code of Business Ethics
- Environmental sustainability questions in RFPs and supplier onboarding
Climate-Related Risks & Opportunities
Physical Risks
- Natural catastrophes
Transition Risks
- Regulatory changes
- Market shifts
Opportunities
- Development of energy-efficient products and services
- Green investments
Reporting Standards
Frameworks Used: GRI Standards Core option, SASB Standards, TCFD, UNGC
Certifications: ISO 14064-3
Third-party Assurance: Quantis
UN Sustainable Development Goals
- 3—Good Health & Well-Being
- 5—Gender Equality
- 8—Decent Work & Economic Growth
- 10—Reduced Inequalities
- 13—Climate Action
MetLife's sustainability efforts focus on these SDGs through products, services, workforce, investments, and community engagement.
Sustainable Products & Innovation
- MetLife 360Health
- 360Future
- PlanSmart
- Met99
- Simplified Issue Medical Care
- PNB MetLife Genius Plan
- My Child Education Protection Plan
- Women’s Protect and Intuition
- Rural Term Insurance
- Mini Accident Insurance
- Life Invest
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Dental Insurance (Brazil and U.S.)
- Vida Pension 57 Mujer
- Pet Insurance
- Unit-linked Insurance Products
Awards & Recognition
- Fortune magazine’s World’s Most Admired Companies
- JUST Capital’s America’s 100 Most JUST Companies
- Bloomberg—Gender Equality Index
- Fortune Magazine’s 100 Best Companies to Work For
- Dow Jones Sustainability Index—North America
- ENERGY STAR Partner of the Year—Sustained Excellence Award
- and many others listed in the report