2024 Sustainability Report
Living Our Purpose
Read our latest Sustainability Report for more information on MetLife initiatives and progress.
Net Zero
MetLife is working toward Net Zero greenhouse gas (GHG) emissions for its global operations and General Account (GA) investment portfolio by 2050 or sooner.1
As a financial services provider, MetLife recognizes that environmental challenges can affect the well-being and financial future of our colleagues, our customers, our communities and our shareholders. Protecting human health, preserving natural resources and addressing climate issues help us drive sustainable growth, mitigate risk and create long-term value for our stakeholders. For years, MetLife has applied a range of strategies to reduce emissions generated by its operational footprint. MetLife is working to increase efficiencies, reduce risks and deliver sustainable growth while making progress toward its interim targets, which support its ambition to reach Net Zero GHG emissions across global operations and MetLife's GA investment portfolio by 2050 or sooner,1 as part of delivering long-term value for our stakeholders.
This aspiration builds on our longstanding history of environmental stewardship, which entails working toward an inclusive, resilient and thriving environment for present and future generations. To help reduce emissions to as close to zero as possible in the coming decades, we are focusing on MetLife, Inc.’s global owned and leased offices and vehicle fleets, employee business travel, supply chain and certain assets in MetLife’s GA investment portfolio, which includes the general accounts of MetLife, Inc.’s wholly owned insurance company subsidiaries.
MetLife has voluntarily produced and publicly disclosed an inventory of GHG emissions from our operations for years. While reliable methodologies and data sets pertaining to certain emissions are not available at this time, we are committed to improving our data quality and tracking capabilities as standards and methodologies continue to evolve. Emissions calculations are informed by the GHG Protocol and Partnership for Carbon Accounting Financials (PCAF), unless otherwise directed by regulators. MetLife recognizes reaching Net Zero emissions depends not only on its own actions, but also those of counterparties and jurisdictions, as well as advancements in tools, data and technology.
Interim Targets2
(by 2030, unless otherwise indicated)
Operations
Operations
Reduce Scope 1, 2 and 3 business travel emissions by 50% from 2019 baseline.3
- Reduced emissions by 44% compared to 2019 baseline through measures such as increasing energy efficiency; reducing consumption at offices and data centers; electrifying vehicle fleets; and reducing business travel, where possible.
- Invested in high-performing, healthy and sustainable new workspaces.
Operations
Two-thirds of top suppliers by spend set emissions-reduction goals.4
- Through the Next Horizon period (2020 through 2024), MetLife employees completed more than 500,000 hours of volunteering in communities where MetLife has a presence. We will aim to achieve another 500,000 volunteer hours during the New Frontier period.
MetLife General Account Investments
MetLife General Account Investments
Reduce financed emissions for real estate equity investments by 50% from 2019 baseline.5
- Reduced location-based financed emissions intensity by 18% and absolute financed emissions by 9% since 2019, while growing the portfolio by 7.9 million square feet (learn more about MIM’s MetZeroTM Carbon CascadeTM approach).
- Launched a data improvement campaign focused on data coverage and quality, which includes installing shadow meters and engaging tenants to improve building performance benchmarking.
- Leveraged ENERGY STAR® tools and resources to analyze performance and identify efficiency opportunities at our properties
MetLife General Account Investments
Engage emitters responsible for at least 50% of public corporate debt financed emissions on climate annually.6
- Engaged issuers responsible for 55% of financed emissions in public corporate debt portfolio in 2024 on climate-related issues.
- Deepened credit analyst engagement on climate issues with portfolio holdings globally, including across key sectors such as utilities, basic materials, and oil and gas.