MetLife 2023 Sustainability Report: Caring for Our Communities

Rhea-AI Summary

MetLife's 2023 Sustainability Report highlights the company's commitment to community engagement and outreach. MetLife Foundation reached over $1 billion in all-time giving in 2023, with $37.4 million in total grants globally. The report showcases key initiatives:

1. A $30 million multi-year commitment to Upstate New York
2. $8.3 million contributed to environmental causes since 2020
3. 144,000+ volunteer hours across 38 markets
4. $96.1 million to support low-income communities since 2021

The report also details new initiatives addressing wealth and income inequality in the U.S., including the Accelerating Commitment to Equity Innovation Fund ($10 million over two years) and the Community Impact Grant Program ($491,000 in grants to 38 nonprofits).

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NORTHAMPTON, MA / ACCESSWIRE / July 26, 2024 / MetLife, Inc.

MetLife China volunteers join a community event with Sesame Workshop to help children and parents learn about planning and saving.

MetLife Sustainability Report

Our Approach

As one of the world's leading financial services companies, MetLife plays an important role in caring for its communities. All MetLife regions, lines of business and colleagues contribute to community engagement and outreach. MetLife Foundation helps connect MetLife colleagues with nonprofits and opportunities to make a difference through volunteerism, pro-bono work and grantmaking. These efforts contributed to MetLife Foundation reaching over $1 billion in all-time giving in 2023.

Governance

As a separate legal entity, MetLife Foundation has its own Board of Directors, chaired by MetLife, Inc.'s Head of Corporate Affairs. MetLife Foundation's President and Chief Executive Officer reports directly to the Foundation's Board Chair. As a fully integrated role, MetLife Foundation's President and CEO also serves as MetLife, Inc.'s Head of Corporate Giving and Employee Volunteerism, a function overseen by the Governance and Corporate Responsibility Committee of MetLife's Board of Directors.

Highlights:

• $1B+ in MetLife Foundation giving
since 1976.

• $30M multi-year commitment to Upstate New York, to build upon existing efforts in the region to help all New Yorkers thrive.

• $8.3M contributed in grants to environmental causes since 2020.

• $37.4M¹ in total grants globally in 2023.

• 144,000+ volunteer hours across 38 markets in 2023.

• $96.1M to support communities with low incomes since 2021.

ADDRESSING WEALTH AND INCOME INEQUALITY IN THE U.S.

In 2023, MetLife Foundation launched a new initiative to address the growing income and wealth divide in the U.S. The two-year, $10.5 million pledge supports nonprofit organizations and leaders proximate to the issues who are on the front lines supporting people with low income in communities where MetLife has a presence.

• Accelerating Commitment to Equity Innovation Fund (ACE Innovation Fund) is a $10 million commitment over two years that aims to democratize access to capital for nonprofits addressing the income and wealth divide in communities that have been historically disadvantaged. The Foundation selected 24 nonprofits across seven cities to receive up to $400,000 each in grants to implement and accelerate programs that will work to dismantle systemic barriers to the income and wealth gap. MetLife Foundation is partnering with Urban Institute and Community Resource Exchange to measure impact and deliver technical assistance to the cohort of grantees.

• Community Impact Grant Program (CIGP) supports grassroots organizations addressing essential needs of people with low income. MetLife Foundation awarded $491,000 in grants to 38 nonprofit organizations that provide vital services to more than 100,000 people with low income in cities where MetLife has a presence.

The full list of grant recipients for the CIGP and ACE Innovation Fund is available on MetLife Foundation's website.

Download the full MetLife 2023 Sustainability Report

View additional multimedia and more ESG storytelling from MetLife, Inc. on 3blmedia.com.

Contact Info:
Spokesperson: MetLife, Inc.
Website: https://www.3blmedia.com/profiles/metlife-inc
Email: info@3blmedia.com

SOURCE: MetLife, Inc.

View the original press release on accesswire.com

FAQ

How much did MetLife Foundation give in total grants globally in 2023?

MetLife Foundation contributed $37.4 million in total grants globally in 2023.

What is the Accelerating Commitment to Equity Innovation Fund (ACE Innovation Fund) by MetLife?

The ACE Innovation Fund is a $10 million commitment over two years by MetLife Foundation to support nonprofits addressing income and wealth inequality in historically disadvantaged communities.

How many volunteer hours did MetLife (MET) employees contribute in 2023?

MetLife employees contributed over 144,000 volunteer hours across 38 markets in 2023.

What is MetLife Foundation's total all-time giving as of 2023?

MetLife Foundation reached over $1 billion in all-time giving in 2023.

How much has MetLife (MET) contributed to environmental causes since 2020?

MetLife has contributed $8.3 million in grants to environmental causes since 2020.