MetLife has announced that it has committed to originating $500 million in impact investments by 2030. In addition to allocating 25% of the investments to addressing climate change, MetLife will focus on promoting financial health for underserved people, including advancing racial and gender equity in low-income and ethnically diverse communities.
MetLife highlighted the intended investment in its annual Sustainability Report, which discussed the company’s commitment to fostering a more diverse, equitable and inclusive workplace and society.
In 2020, MetLife became the first US insurer to sign the United Nations Women’s Empowerment Principles, which have guided the company’s strategies to close gender gaps in the areas of leadership, workplace, marketplace and community. As of the end of 2020, women represented 52% of MetLife’s workforce, 33% of its board of directors, 30% of its executive group, and 42% of its managers.
“As a global insurer and purpose-driven company, we strive to create a more confident and sustainable future for all of our stakeholders,” said Michel Khalaf, president and CEO of MetLife. “Building on our 153-year legacy of creating financial security, we are strengthening our commitments to the environment and climate, equity and inclusivity, health and wellbeing, and economic growth for disadvantaged communities.”
The report also covers the company’s efforts to create positive change in the more than 40 markets where it operates. Highlights from 2020 include:
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“We believe sustainability must be central to our business strategy and a guiding force behind every aspect of our operations,” said Jon Richter, chief sustainability officer at MetLife. “The full scope of our people, products and services, investments, and community efforts help us serve as a force for good in the world.”