MetLife and MetLife Foundation commit more than $2.5 billion to deepen impact across workforce and society
MetLife, Inc. (NYSE: MET) today announced a broad set of 2030 diversity, equity and inclusion (DEI) commitments designed to address the needs of the underserved and underrepresented through a mix of investments, products and services, supply chain, volunteering, and community efforts.
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MetLife's 2030 DEI Commitments are designed to address the needs of the underserved and underrepresented through a mix of investments, products and services, supply chain, volunteering, and community efforts. (Graphic: Business Wire)
The extensive package of DEI commitments augments the global insurer’s robust sustainability efforts, which are anchored to its business strategy and informed by the United Nations Sustainable Development Goals.
“MetLife’s purpose calls on us to build a more inclusive and equitable world for all our stakeholders,” said MetLife President and CEO Michel Khalaf. “The breadth of these commitments demonstrates that we are significantly advancing our DEI efforts on every front. Setting clear expectations for our progress will hold us accountable and sustain our momentum.”
MetLife has pledged to deliver on the following commitments by 2030:
- Originate $1 billion in investments that advance firms owned by women, minorities, and disabled persons. MetLife made a down payment on this commitment with nearly $100 million deployed in 2021.
- Reach $5 billion in spend with diverse suppliers – an increase of $1.6 billion from the amount MetLife’s Supplier Inclusion and Development Program has committed to date. MetLife will also annually report the economic impact of this spend.
- MetLife Foundation has committed $150 million in funding to support underserved and underrepresented communities.
- Commit 800,000 employee volunteer hours with a focus on DEI/underserved communities.
- Provide solutions and insights to address the needs of the underserved. For example, MetLife will build partnerships with experts to provide educational content in Upwise™ – the company’s new digital financial wellness app – to tackle the financial challenges disproportionately impacting diverse communities.
- Support research that advances understanding of DEI issues. For example, MetLife will share insights from the company’s annual Employee Benefit Trends Study and other research initiatives to help employers as they support their increasingly diverse workforces.
- Continue to advance workforce diversity by consistently achieving top quartile positioning across each ethnically and racially diverse category in the U.S. and of female officers globally. Enhance transparency of the link between top quartile positioning and executive leadership performance.
The financial components of these commitments total more than $2.5 billion by 2030.
“Every MetLife employee plays an important role in achieving our DEI objectives,” said MetLife Global Diversity, Equity and Inclusion Officer Dr. Cindy Pace. “By embedding these commitments directly into the work our teams do each day, we’re able to tap into fresh ideas and expertise that will have a meaningful impact on the diverse customers and communities we serve.”
Regular progress updates on the 2030 commitments will be provided through the company’s annual sustainability report. Click here to learn more.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About MetLife Foundation
At MetLife Foundation, we are committed to expanding opportunities for low- and moderate-income people around the world. We partner with nonprofit organizations and social enterprises to create financial health solutions and build stronger communities, while engaging MetLife employee volunteers to help drive impact. Our financial health work has reached more than 17.3 million low- and moderate-income individuals in 42 countries. Learn more at MetLife Foundation.
The forward-looking statements in this news release, using words such as “total” and “will,” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to correct or update any of these statements.
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MetLife has announced a broad set of 2030 DEI commitments designed to address the needs of the underserved and underrepresented through a mix of investments, products and services, supply chain, volunteering, and community efforts.