Interim targets on the way to Net Zero
(By 2030 unless otherwise indicated)
Net Zero Commitment
MetLife is committed to Net Zero greenhouse gas (GHG) emissions for its global operations and General Account investment portfolio by 2050 or sooner. 1
This ambition is part of our overall business strategy to create long-term value for employees, customers, shareholders and the communities where we operate. For MetLife, this means working toward an inclusive, resilient, and thriving environment for present and future generations.
As a purpose-driven company, we continue to adapt to meet the needs of a rapidly changing world. MetLife’s Net Zero commitment builds on our longstanding history of environmental stewardship. This includes addressing climate change and supporting a just transition to a low-carbon economy, which requires collective action from diverse stakeholders.
Our commitment is supported by a holistic approach, interim targets and key initiatives intended to help improve the environment.
Our Net Zero Approach
MetLife's approach to Net Zero is guided by four pillars focused on where we are best positioned to support a long-term transition while creating value for our stakeholders:
01
Reduce GHG emissions in alignment with the aims of the Paris Agreement
02
Collaborate with our stakeholders to collectively work toward a Net Zero future
03
Finance solutions to drive progress toward a low-carbon economy
04
Evolve our approach to changes in the market and incorporate the latest climate science into our strategy
GLOBAL OPERATIONS
Reduce Scope 1, 2, and 3 business travel emissions by 50%2
GLOBAL OPERATIONS
Two-thirds of suppliers to set emissions reduction goals aligned with climate science3
GENERAL ACCOUNT INVESTMENTS
Engage emitters responsible for at least 50% of public corporate portfolio financed emissions on climate annually4
GENERAL ACCOUNT INVESTMENTS
Reduce GHG emissions for managed real estate equity investments by 50%5
Enhancing data accuracy and completeness
MetLife has voluntarily produced and publicly disclosed an inventory of GHG emissions from our operations for many 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. To support our Net Zero commitment for MetLife’s General Account, we are focused on developing financed emissions disclosures where reliable data and methodologies are available and enhancing its accuracy and completeness over time.
Creating positive climate impact in an evolving landscape
Beyond our Net Zero commitment and interim emission reduction targets, our sustainability strategy centers on five of the 17 UN Sustainable Development Goals (SDGs) that are most relevant to our business, including climate action.
In addition, we leverage the strength of our people, products, services and investments to make progress in areas such as human health, water stewardship and biodiversity.
WE ARE WORKING TOWARD:
- Maintaining carbon neutrality annually for our global offices, vehicle fleets and employee business travel by supporting high-quality carbon offset projects that align with UN SDGs to the extent possible and supporting renewable electricity technologies by purchasing Renewable Energy Credits (RECs).6
- Prioritizing green and healthy buildings in our global office portfolio (aiming for at least 40% of our square footage), including healthy and sustainable amenities for our colleagues.7
- Engaging employees, customers and our other diverse stakeholders on environmental stewardship.
- Originating $25 billion of new General Account green investments and $500 million of impact investments (with 25% allocated to climate change priorities).7
- Contributing $5 million to drive climate-related partnerships and solutions.7
- MetLife Foundation granting $10 million to environmental causes.8
- Planting 5 million trees, prioritizing areas vulnerable to natural disasters, to help improve the health of local ecosystems and communities and preserve biodiversity.7
Explore our Sustainability Resource Center
Read our latest Sustainability Report
for more information on MetLife’s initiatives and progress.
1 The Net Zero commitment applies to GHG emissions from MetLife, Inc.’s global owned and leased offices and vehicle fleets, employee business travel, supply chain and assets in MetLife’s General Account investment portfolio, which includes the general accounts of MetLife, Inc.’s wholly owned insurance company subsidiaries, where reliable data and methodologies are available. While reliable methodologies and data sets pertaining to certain greenhouse gas emissions are not available at this time, MetLife is committed to identifying and measuring relevant climate data as methodologies and standards evolve. Emissions are tracked in accordance with the Greenhouse Gas Protocol, unless otherwise directed by regulators. Additional information about MetLife’s General Account investment portfolio is available here.
2 Applies to GHG emissions from MetLife, Inc.’s global owned and leased offices (fuel, gas and electricity consumption) and global vehicle fleet (Scope 1 and 2 emissions), and employee business travel (Scope 3 Category 6), where reliable data and methodologies are available, unless otherwise directed by regulators. Target has a base year of 2019 and target year of 2030. Emissions are tracked in accordance with the Greenhouse Gas Protocol, unless otherwise directed by regulators.
3 “Two-thirds” based on spend; target measures MetLife suppliers that make public commitments to reduce GHG emissions by 2025 or later, aligned with the aims of the Paris Agreement. This applies to upstream GHG emissions from the production of products purchased or acquired by MetLife, Inc. (Scope 3 Category 1) and from the production of capital goods purchased or acquired by MetLife, Inc. (Scope 3 Category 2), where reliable data and methodologies are available, unless otherwise directed by regulators. Emissions are tracked in accordance with the Greenhouse Gas Protocol, unless otherwise directed by regulators.
4 Applies to MetLife, Inc.’s financed GHG emissions associated with its General Account public corporate portfolio (Scope 3 Category 15), where reliable data and methodologies are available. Emissions are tracked in accordance with the Partnership for Carbon Accounting Financials (PCAF) standards, unless otherwise directed by regulators. While reliable methodologies and data sets pertaining to certain GHG emissions are not available at this time, MetLife is committed to identifying and measuring relevant climate data as methodologies and standards evolve. Additional information about MetLife’s General Account investment portfolio is available here.
5 Applies to GHG emissions directly generated and associated with power consumed on site (including Scope 1 and 2 emissions and excluding Scope 3 tenant emissions) for owned and controlled real estate investments within MetLife, Inc.’s General Account (Scope 3 Category 15), where reliable data and methodologies are available. Excludes emissions from the operation of leased assets (Scope 3 Category 13). Target has a base year of 2019 and target year of 2030. Emissions are tracked in accordance with the GHG Protocol, unless otherwise directed by regulators. While reliable methodologies and data sets pertaining to certain GHG emissions are not available at this time, MetLife is committed to identifying and measuring relevant climate data as methodologies and standards evolve. Additional information about MetLife’s General Account investment portfolio is available here.
6 MetLife’s carbon neutrality efforts apply to global owned, leased offices and global vehicle fleet (Scope 1 and 2 emissions) and employee business travel (Scope 3 Category 6).
7 MetLife initiative to take place between 2020 and 2030.
8 MetLife Foundation initiative to take place between 2020 and 2030.