Social Governance

MetLife Announces DEI Commitments

Published on: 29 March 2022 05:19 PM
by KnowESG

MetLife, a global insurance provider, announced its 2030 diversity, equity and inclusion (DEI) commitments to address the needs of the underreserved and underrepresented through a series of investments, products and services, supply chain, volunteering and community efforts.

The commitments will accelerate MetLife's climate and sustainability efforts, in line with its business policies and informed by the United Nations Sustainable Development goals. 

MetLife President and CEO Michel Khalaf said: "MetLife’s purpose calls on us to build a more inclusive and equitable world for all our stakeholders. 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's 2030 commitments include the following:

  • Provide $1 billion in investments to firms owned by disabled persons, women, and minorities to advance their operations. 

  • Achieve $5 billion in spend with diverse suppliers. MetLife will evaluate the economic impact of this spending yearly.

  • $150 million commitment in funding to assist underreserved and underrepresented communities.

  • Commit 8,00,000 employee volunteer hours for DEI or underreserved communities.

  • Provide the underserved with solutions and insights to address their needs.

  • Support research concerning DEI issues.

In total, MetLife has committed over $2.5 billion by 2030.

MetLife Global Chief Diversity, Equity and Inclusion Officer Dr Cindy Pace said: "Every MetLife employee plays an important role in achieving our DEI objectives. 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.”

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