1. Maintain carbon neutrality annually for our global offices, fleet, and business travel
Carbon neutrality means eliminating or offsetting all greenhouse gas (GHG) emissions across a company’s operations. For MetLife, carbon neutrality applies to GHG emissions from all of MetLife’s owned and leased properties across the world, its fleet of automobiles in the Auto & Home business line (Scope 1 and 2 Emissions), and the company’s employee business travel (Scope 3 Emissions). Scope 1 refrigerant emissions from HVAC systems are not included in our commitment. MetLife achieves carbon neutrality annually through continued implementation of energy efficiency measures across its real estate portfolio, increased use of collaboration tools to reduce employee business travel, and continued support of renewable energy and carbon offset projects for the remainder of its GHG emissions.
2. Reduce location-based GHG emissions by 30% from 2019 to 2030
This applies to the company’s global corporate office portfolio, including MetLife’s owned and leased properties across the world, its fleet of automobiles in the Auto & Home business line (Scope 1 and 2 emissions), and the company’s employee business travel (Scope 3 emissions). Scope 1 refrigerant emissions from HVAC systems are not included in our commitments. These reductions will be achieved through various emissions reduction strategies, including energy efficiency projects, facility upgrades, more fuel-efficient vehicles, the integration of sustainability best practices into new MetLife workspaces, and the increased use of collaboration tools to offset employee travel. Energy efficiency projects and facility upgrades can include lighting retrofits, chiller and boiler replacements, efficient HVAC systems, LED lighting systems, demand metering, occupancy-sensor installations and other projects. These reductions will not be achieved through the purchase of green energy or carbon offsets.
3. Achieve green or healthy building certification for 40% of our global office portfolio (sq. ft)
MetLife has a long history of supporting green building. For example, in 2019, 22 of MetLife’s global offices were certified by the Leadership in Energy and Environmental Design (LEED) program. Additionally, in 2019, MetLife was the first life insurance company to earn Fitwel certifications for its commitment to healthy workplaces. The company was also recognized as an U.S. Environmental Protection Agency ENERGY STAR Partner of the Year in 2019 and 2020 for its energy management. To achieve this goal by 2030, MetLife plans to continue investing in green building features, such as lighting automation technology, furniture made from high recycled content, low VOC building materials, and high-efficiency plumbing, as well as in healthy building components such as indoor air quality testing, healthy dining, fitness offerings, and wellness programming. Green and healthy building certifications may include, but are not limited to, LEED, Fitwel, and ENERGY STAR certifications.
4. Mobilize 100 suppliers to set a GHG emissions reduction target by 2025
As a financial services company, MetLife’s supply chain represents a significant portion of its environmental impact, so it is important to engage key suppliers and encourage reduction of their own GHG emissions. In 2019, over 100 of MetLife’s top suppliers disclosed GHG emissions and emissions-reduction activities, exceeding MetLife’s 2020 target. This new 2025 goal encourages our suppliers to go one step further and set emissions reduction targets. We expect to achieve this goal by continuing to engage suppliers through the CDP Supply Chain Questionnaire and by educating, training and supporting our suppliers on developing emissions reduction targets.
Protecting our Communities
5. Plant 5 million trees prioritizing areas vulnerable to natural disasters
MetLife expects to achieve this goal through a variety of tree planting initiatives, including reforestation programs, community distribution, and employee volunteering. We will prioritize areas that have experienced, or are likely to experience, severe weather impacts, as defined by FEMA Disaster Declaration data and other similar entities in MetLife’s markets of operation. By planting five million trees, we are investing in not only the resilience of our local communities, but a nature-based solution to reduce the impact of climate change.
6. Engage and educate 50,000 stakeholders on environmental stewardship annually
In 2019, over 10,000 MetLife employees took advantage of sustainability education and volunteering opportunities to reduce their environmental impact at work, at home, and in their communities through Our Green Impact, the company’s environmental engagement program. To achieve this goal, MetLife intends to further expand this program and engage more employees, while also engaging other stakeholders, such as our customers, our community members, suppliers, business partners, students, and more. Engagement will be defined as measurable action taken by a stakeholder. This could include attending an in-person event (e.g., Earth Day event or volunteer opportunities), actively participating during a virtual event, or completing an environmentally-focused task. If you would like to learn more about how you can get involved, please contact us at email@example.com.
7. Commit to grant $10 million to environmental causes by MetLife Foundation
The Foundation grants will be an expansion of previous environmental giving by MetLife and MetLife Foundation. Philanthropic grants could be made by the following entities (but not limited to): MetLife Foundation, MetLife Korea Foundation, MetLife Mexico Foundation, as well as MetLife corporate contribution sources. These grants and other contributions will be aligned with environmentally themed United Nations Sustainable Development Goals (SDGs), where possible (e.g., Affordable and Clean Energy, Sustainable Cities and Communities, Responsible Consumption and Production, Climate Action, Life Below Water, and Life on Land). For additional information about the United Nations SDGs, please visit https://www.un.org/sustainabledevelopment/sustainable-development-goals/.
8. Commit $5 million to develop products and partnerships that drive climate solutions
MetLife expects to achieve this goal by designing products and/or developing partnerships with external organizations, including, but not limited to start-ups, institutions, academia, and non-profits, that contribute to climate solutions and align to the United Nations SDGs, where possible.
9. Originate $20 billion of new MIM managed green investments
As of December 31, 2019, MetLife Investment Management (MIM), MetLife’s institutional investment management business, had $18.3 billion of green investments under management. To achieve this goal, MIM intends to originate an additional $20 billion of green investments by December 31, 2030. MIM currently defines green investments to include 1) LEED certified real estate equity investments; 2) commercial mortgage loans secured by LEED and/or ENERGY STAR certified real estate; 3) renewable energy projects, including wind and solar; 4) ESPCs (Energy Savings Performance Contracts; 5) public corporate green bonds; and 6) PACE (Property Assessed Clean Energy) residential and commercial loans.
10. Originate $500 million of new MetLife impact investments, with 25% allocated to climate change priorities
As of December 31, 2019, MIM had $240 million of impact investments under management. To achieve this goal, MIM intends to originate an additional $500 million of impact investments on behalf of MetLife and the MetLife Foundation by December 31, 2030, with at least $125 million going towards climate change priorities. MetLife defines impact investments as investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return. Impact investments will align with the United Nations SDGs, where feasible.
11. Power all MIM managed and controlled real estate investments with 100% renewable electricity
This goal applies to MIM’s managed and controlled real estate equity investments and is intended to be achieved through a combination of steps, including reducing energy demand, exploring on-site renewables, and purchasing unbundled renewable energy certificates (RECs) and instruments. Additional mechanisms to procure renewable electricity could include onsite, direct and sleeved power purchase agreements, green tariffs, multi-year RECs purchases and virtual power purchase agreements. More information can be found here: https://investments.metlife.com/insights/real-estate/investors-expect-and-demand-meaningful-environmental-goals-and-progress.